BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 25, 2022

Business Combination and Asset Acquisition [Abstract]

Fair Values for Assets Acquired and Liabilities Assumed

The fair values recorded for the assets acquired and liabilities assumed for the acquisition are as follows (in thousands):

Cash and cash equivalents	$	113
Trade accounts and other receivables	7,387
Inventories	60,341
Prepaid expenses and other current assets	1,727
Operating lease assets	14,648
Property, plant and equipment	247,133
Identified intangible assets	415,157
Other assets	335
Total assets acquired	746,841
Accounts payable	4,615
Other current liabilities	407
Operating lease liabilities	18,996
Deferred tax liabilities	114,701
Other long-term liabilities	2,612
Total liabilities assumed	141,331
Identified net assets	605,510
Goodwill	353,397
Total consideration transferred	$	958,907

Pro Forma Information

The following unaudited pro forma information presents the combined financial results for the Company and PFM for 2022, 2021 and 2020 as if the acquisition had been completed at the beginning of 2020:

	2022		2021		2020
	(In thousands, except per share amounts)
Net sales	$	17,468,377	$	15,442,724	$	13,023,345
Net income attributable to Pilgrim's Pride Corporation	746,599		19,389		92,991
Net income attributable to Pilgrim's Pride Corporation per common share - diluted	$	3.11	$	0.08	$	0.38