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REPORTABLE SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Additional information regarding reportable segments is as follows:
Three Months Ended
March 31, 2024(a)
March 26, 2023(b)
(In thousands)
Net sales
U.S.$2,579,332 $2,432,568 
Europe1,267,903 1,239,264 
Mexico514,699 493,796 
Total$4,361,934 $4,165,628 
(a)In addition to the above third party sales, for the three months ended March 31, 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $47.9 million. These sales consisted of fresh products, prepared products and grain.
(b)In addition to the above third party sales, for the three months ended March 26, 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $31.0 million. These sales consisted of fresh products, prepared products and grain.
Three Months Ended
March 31, 2024March 26, 2023
(In thousands)
Operating income (loss)
U.S.$179,417 $(28,106)
Europe31,116 25,261 
Mexico39,741 34,175 
Eliminations— 13 
Total operating income250,274 31,343 
Interest expense, net of capitalized interest41,243 42,662 
Interest income(10,346)(3,600)
Foreign currency transaction losses (gains)(4,337)18,143 
Miscellaneous, net(3,286)(22,653)
Income (loss) before income taxes227,000 (3,209)
Income tax expense (benefit)52,062 (8,840)
Net income$174,938 $5,631 
March 31, 2024December 31, 2023
(In thousands)
Total assets
U.S.$6,931,645 $7,012,211 
Europe4,277,510 4,299,985 
Mexico1,634,500 1,684,711 
Eliminations(3,075,315)(3,186,546)
Total assets$9,768,340 $9,810,361 
March 31, 2024December 31, 2023
(In thousands)
Long-lived assets(a)
U.S.$2,095,619 $2,085,222 
Europe1,038,884 1,041,857 
Mexico300,274 301,919 
Eliminations(3,888)(3,888)
Total long-lived assets$3,430,889 $3,425,110 
(a)For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting. Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.