RESTRUCTURING-RELATED ACTIVITIES (Tables)

12 Months Ended

Dec. 25, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table provides a summary of our estimates of costs associated with these restructuring initiatives by major type of cost:

Type of Cost	Moy Park		Pilgrim’s Pride Ltd.		Pilgrim’s Food Masters		Total Estimated Amount Expected to be Incurred
	(In thousands)
Contract termination	$	9,437	$	833	$	2,170	$	12,440
Asset impairment	3,559		—		—		3,559
Severance	8,244		6,160		5,303		19,707
Employee retention benefits	1,398		276		—		1,674
Other employee costs	301		181		121		603
Lease termination	458		642		1,808		2,908
Inventory adjustment	470		615		—		1,085
Other charges (a)	7,543		1,386		7,110		16,039
Total estimated costs, net	$	31,410	$	10,093	$	16,512	$	58,015

(a)Comprised of other costs directly related to the restructuring initiatives including Moy Park flock depletion, Pilgrim’s Pride Ltd. prepayment balances and maintenance contracts exit costs and Pilgrim’s Pride Ltd. consulting fees.

During 2022, the Company recognized the following expenses and paid the following cash related to each restructuring initiative:

	Expenses		Cash Outlays
	(In thousands)
Moy Park	$	19,325	$	10,526
Pilgrim’s Pride Ltd.	10,140		2,590
Pilgrim’s Food Masters	1,001		341
	$	30,466	$	13,457

Schedule of Restructuring Reserve

The following table reconciles liabilities and reserves associated with each restructuring initiative from initiative inception to December 25, 2022. Ending liability balances for employee termination benefits and other charges are reported in the line item Accrued expenses and other current liabilities in our Consolidated Balance Sheets. The ending reserve balance for inventory impairments is reported in the line item Inventories in our Consolidated Balance Sheets.

	Moy Park
	Restructuring charges incurred		Cash payments and disposals		Currency translation		Liability or reserve as of December 25, 2022
	(In thousands)
Employee retention benefits	$	9,590	$	(9,452)	$	(138)	$	—
Other employee costs	18		(17)		(1)		—
Asset impairment	3,559		(1,053)		(115)		2,391
Contract termination	122		—		—		122
Inventory adjustments	5		(4)		—		1
Other charges	6,031		—		(6)		6,025
Total	$	19,325	$	(10,526)	$	(260)	$	8,539
	Pilgrim’s Pride Ltd.
	Restructuring charges incurred		Cash payments and disposals		Currency translation		Liability or reserve as of December 25, 2022
	(In thousands)
Employee retention benefits	$	994	$	(984)	$	(10)	$	—
Severance	7,211		(1,606)		(102)		5,503
Inventory adjustments	621		—		(6)		615
Lease termination	808		—		(8)		800
Other charges	506		—		(5)		501
Total	$	10,140	$	(2,590)	$	(131)	$	7,419
	Pilgrim’s Food Masters
	Restructuring charges incurred		Cash payments and disposals		Currency translation		Liability or reserve as of December 25, 2022
	(In thousands)
Severance	$	959	$	(300)	$	(20)	$	639
Other charges	42		(41)		(1)		—
Total	$	1,001	$	(341)	$	(21)	$	639