REVENUE RECOGNITION

12 Months Ended

Dec. 29, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

Disaggregated Revenue

Revenue has been disaggregated into the following categories below to show how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows:

	Year Ended December 29, 2024
	Fresh		Prepared		Export		Other(a)		Total
	(In thousands)
U.S.	$	8,731,904	$	1,094,818	$	468,553	$	334,654	$	10,629,929
Europe	1,178,459		3,381,178		477,486		99,624		5,136,747
Mexico	1,777,815		220,270		—		113,530		2,111,615
Total net sales	$	11,688,178	$	4,696,266	$	946,039	$	547,808	$	17,878,291

	Year Ended December 31, 2023
	Fresh		Prepared		Export		Other(a)		Total
	(In thousands)
U.S.	$	8,105,268	$	978,423	$	533,205	$	410,846	$	10,027,742
Europe	1,074,900		3,525,359		472,657		130,406		5,203,322
Mexico	1,796,670		212,651		—		121,832		2,131,153
Total net sales	$	10,976,838	$	4,716,433	$	1,005,862	$	663,084	$	17,362,217

	Year Ended December 25, 2022
	Fresh		Prepared		Export		Other(a)		Total
	(In thousands)
U.S.	$	8,624,421	$	1,107,734	$	552,823	$	463,372	$	10,748,350
Europe	908,882		3,104,347		712,685		148,824		4,874,738
Mexico	1,587,809		167,589		—		89,891		1,845,289
Total net sales	$	11,121,112	$	4,379,670	$	1,265,508	$	702,087	$	17,468,377

(a)Included in Other sales shown above are sales of commodity grains and protein byproducts.

Additional disaggregation of revenue by sales channel is provided below:

	Year Ended December 29, 2024
	Retail		Foodservice		Export		Other		Total
	(In thousands)
U.S.	$	5,708,826	$	4,029,197	$	468,553	$	423,353	$	10,629,929
Europe	3,257,803		846,284		477,486		555,174		5,136,747
Mexico(a)	531,724		982,429		—		597,462		2,111,615
Total net sales	$	9,498,353	$	5,857,910	$	946,039	$	1,575,989	$	17,878,291

	Year Ended December 31, 2023
	Retail		Foodservice		Export		Other		Total
	(In thousands)
U.S.	$	5,111,023	$	3,829,397	$	533,205	$	554,117	$	10,027,742
Europe	3,220,272		917,304		472,657		593,089		5,203,322
Mexico(a)	502,408		986,567		—		642,178		2,131,153
Total net sales	$	8,833,703	$	5,733,268	$	1,005,862	$	1,789,384	$	17,362,217

	Year Ended December 25, 2022
	Retail		Foodservice		Export		Other		Total
	(In thousands)
U.S.	$	4,952,560	$	4,608,606	$	552,823	$	634,361	$	10,748,350
Europe	2,842,502		778,304		712,685		541,247		4,874,738
Mexico(a)	416,342		880,368		—		548,579		1,845,289
Total net sales	$	8,211,404	$	6,267,278	$	1,265,508	$	1,724,187	$	17,468,377

(a)Included in Mexico foodservice channel are sales to wholesale public meat markets that typically sell product on to foodservice customers. Included in Mexico other channel are sales to live chicken markets.

Contract Costs

The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred.

Taxes

The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price.

Contract Balances

The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied.

Changes in the revenue contract liability balances for the years ended December 29, 2024 and December 31, 2023 were as follows:

	December 29, 2024		December 31, 2023
	(In thousands)
Balance, beginning of year	$	84,958	$	34,486
Revenue recognized	(82,331)		(28,674)
Cash received, excluding amounts recognized as revenue during the period	46,271		79,146
Balance, end of year	$	48,898	$	84,958