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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 25, 2023
Jun. 26, 2022
Jun. 25, 2023
Jun. 26, 2022
Income Statement [Abstract]        
Net sales $ 4,308,091 $ 4,631,648 $ 8,473,719 $ 8,872,043
Cost of sales 4,029,666 3,954,877 8,022,247 7,653,292
Gross profit 278,425 676,771 451,472 1,218,751
Selling, general and administrative expense 148,436 163,867 282,114 303,834
Restructuring activities 29,718 0 37,744 0
Operating income 100,271 512,904 131,614 914,917
Interest expense, net of capitalized interest 47,152 38,112 89,814 74,408
Interest income (7,628) (1,010) (11,228) (2,284)
Foreign currency transaction losses 16,395 2,758 34,538 14,294
Miscellaneous, net (1,331) (1,688) (23,984) (2,012)
Income before income taxes 45,683 474,732 42,474 830,511
Income tax expense (benefit) (15,225) 112,711 (24,065) 187,930
Net income 60,908 362,021 66,539 642,581
Less: Net income (loss) attributable to noncontrolling interests 452 (95) 896 27
Net income attributable to Pilgrim’s Pride Corporation $ 60,456 $ 362,116 $ 65,643 $ 642,554
Weighted average shares of Pilgrim’s Pride Corporation common stock outstanding:        
Basic (in shares) 236,733 240,366 236,659 242,018
Effect of dilutive common stock equivalents (in shares) 476 607 527 619
Diluted (in shares) 237,209 240,973 237,186 242,637
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (in dollars per share) $ 0.26 $ 1.51 $ 0.28 $ 2.65
Diluted (in dollars per share) $ 0.25 $ 1.50 $ 0.28 $ 2.65