XML 14 R3.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 25, 2022
Sep. 26, 2021
Sep. 25, 2022
Sep. 26, 2021
Income Statement [Abstract]        
Net sales $ 4,468,969 $ 3,827,566 $ 13,341,012 $ 10,738,689
Cost of sales 3,971,699 3,455,723 11,624,991 9,725,362
Gross profit 497,270 371,843 1,716,021 1,013,327
Selling, general and administrative expense 158,068 251,066 461,902 857,217
Operating income 339,202 120,777 1,254,119 156,110
Interest expense, net of capitalized interest 36,895 29,833 111,303 110,818
Interest income (2,673) (1,244) (4,957) (4,452)
Foreign currency transaction losses 54 2,359 14,348 9,018
Miscellaneous, net (19,822) (1,391) (21,834) (10,005)
Income before income taxes 324,748 91,220 1,155,259 50,731
Income tax expense 65,749 30,385 253,679 55,931
Net income (loss) 258,999 60,835 901,580 (5,200)
Less: Net income attributable to noncontrolling interests 647 110 674 554
Net income (loss) attributable to Pilgrim’s Pride Corporation $ 258,352 $ 60,725 $ 900,906 $ (5,754)
Weighted average shares of Pilgrim’s Pride Corporation common stock outstanding:        
Basic (in shares) 238,559 243,675 240,865 243,643
Effect of dilutive common stock equivalents (in shares) 649 520 629 0
Diluted (in shares) 239,208 244,195 241,494 243,643
Net income (loss) attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (in dollars per share) $ 1.08 $ 0.25 $ 3.74 $ (0.02)
Diluted (in dollars per share) $ 1.08 $ 0.25 $ 3.73 $ (0.02)