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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 25, 2023
Jun. 26, 2022
Cash flows from operating activities:    
Net income $ 66,539,000 $ 642,581,000
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 203,114,000 201,996,000
Deferred income tax benefit (56,151,000) (35,538,000)
Loss (gain) on property disposals (9,316,000) 2,718,000
Loan cost amortization 4,733,000 2,827,000
Asset impairment 4,011,000 0
Stock-based compensation 3,300,000 4,346,000
Accretion of discount related to Senior Notes 980,000 859,000
Loss on equity-method investments 328,000 4,000
Changes in operating assets and liabilities:    
Trade accounts and other receivables (54,971,000) (216,523,000)
Inventories (45,242,000) (309,360,000)
Prepaid expenses and other current assets (27,754,000) 13,173,000
Accounts payable, accrued expenses and other current liabilities 5,139,000 96,083,000
Income taxes 9,933,000 21,959,000
Long-term pension and other postretirement obligations 944,000 (1,717,000)
Other operating assets and liabilities (16,246,000) (2,189,000)
Cash provided by operating activities 89,341,000 421,219,000
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (286,630,000) (196,205,000)
Proceeds from insurance recoveries 20,681,000 0
Proceeds from property disposals 15,008,000 2,362,000
Purchase of acquired business, net of cash acquired 0 (4,847,000)
Cash used in investing activities (250,941,000) (198,690,000)
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term borrowings 1,078,032,000 351,065,000
Payments on revolving line of credit, long-term borrowings and finance lease obligations (565,658,000) (170,022,000)
Payments of capitalized loan costs (10,353,000) (3,052,000)
Payment of equity distribution under Tax Sharing Agreement between JBS USA Holdings and Pilgrim’s Pride Corporation (1,592,000) (1,961,000)
Purchase of common stock under share repurchase program 0 (119,989,000)
Cash provided by financing activities 500,429,000 56,041,000
Effect of exchange rate changes on cash and cash equivalents 3,422,000 (6,067,000)
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents 342,251,000 272,503,000
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period 434,759,000 450,121,000
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 777,010,000 $ 722,624,000