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REVENUE RECOGNITION
 12 Months Ended
Dec. 25, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
The vast majority of the Company’s revenue is derived from contracts which are based upon a customer ordering our products. While there may be master agreements, the contract is only established when the customer’s order is accepted by the Company. The Company accounts for a contract, which may be verbal or written, when it is approved and committed by both parties, the rights of the parties are identified along with payment terms, the contract has commercial substance and collectability is probable.
The Company evaluates the transaction for distinct performance obligations, which are the sale of its products to customers. Since its products are commodity market-priced, the sales price is representative of the observable, standalone selling price. Each performance obligation is recognized based upon a pattern of recognition that reflects the transfer of control to the customer at a point in time, which is upon destination (customer location or port of destination), which faithfully depicts the transfer of control and recognition of revenue. There are instances of customer pick-up at the Company’s facility, in which case control transfers to the customer at that point and the Company recognizes revenue. The Company’s performance obligations are typically fulfilled within days to weeks of the acceptance of the order.

The Company makes judgments regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from revenue and cash flows with customers. Determination of a contract requires evaluation and judgment along with the estimation of the total contract value and if any of the contract value is constrained. Due to the nature of our business, there is minimal variable consideration, as the contract is established at the acceptance of the order from the customer. When applicable, variable consideration is estimated at contract inception and updated on a regular basis until the contract is completed. Allocating the transaction price to a specific performance obligation based upon the relative standalone selling prices includes estimating the standalone selling prices including discounts and variable consideration.

Disaggregated Revenue
Revenue has been disaggregated into the following categories below to show how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows:
Year Ended December 25, 2022
FreshPreparedExportOtherTotal
(In thousands)
U.S. $8,624,421 $1,107,734 $552,823 $463,372 $10,748,350 
U.K. and Europe908,882 3,104,347 712,685 148,824 4,874,738 
Mexico1,587,809 167,589 — 89,891 1,845,289 
Total net sales$11,121,112 $4,379,670 $1,265,508 $702,087 $17,468,377 
Year Ended December 26, 2021
FreshPreparedExportOtherTotal
(In thousands)
U.S.$7,264,448 $898,614 $459,371 $491,446 $9,113,879 
U.K. and Europe1,151,330 2,214,180 458,588 109,964 3,934,062 
Mexico1,515,453 128,208 — 85,856 1,729,517 
Total$9,931,231 $3,241,002 $917,959 $687,266 $14,777,458 
Year Ended December 27, 2020
FreshPreparedExportOtherTotal
(In thousands)
U.S.$6,137,264 $714,563 $306,478 $337,712 $7,496,017 
U.K. and Europe1,594,373 1,237,486 297,414 145,019 3,274,292 
Mexico1,210,952 66,572 — 44,068 1,321,592 
Total$8,942,589 $2,018,621 $603,892 $526,799 $12,091,901 
Contract Costs
The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred.
Taxes
The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price.
Contract Balances
The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied.
Changes in the revenue contract liability balances for the years ended December 25, 2022 and December 26, 2021 were as follows:
December 25, 2022December 26, 2021
(In thousands)
Balance, beginning of year$22,321 $65,918 
Revenue recognized (19,712)(60,764)
Cash received, excluding amounts recognized as revenue during the period31,877 17,167 
Balance, end of year$34,486 $22,321