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TRADE ACCOUNTS AND OTHER RECEIVABLES
 12 Months Ended
Dec. 29, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
TRADE ACCOUNTS AND OTHER RECEIVABLES TRADE ACCOUNTS AND OTHER RECEIVABLES
Trade accounts and other receivables (including accounts receivable from related parties), less allowance for credit losses, consisted of the following:
December 29, 2024December 31, 2023
 (In thousands)
Trade accounts receivable$973,820 $1,027,916 
Notes receivable 8,970 51,168 
Other receivables30,018 59,435 
Receivables, gross1,012,808 1,138,519 
Allowance for credit losses(8,474)(9,341)
Receivables, net$1,004,334 $1,129,178 
Accounts receivable from related parties(a)
$2,608 $1,778 
(a)Additional information regarding accounts receivable from related parties is included in “Note 19. Related Party Transactions.”

Activity in the allowance for credit losses was as follows:
December 29, 2024December 31, 2023
Allowance for Credit Losses:(In thousands)
Balance, beginning of period$(9,341)$(9,559)
Provision released (charged) to operating results102 (1,439)
Account write-offs and recoveries46 2,436 
Effect of exchange rate719 (779)
Balance, end of period$(8,474)$(9,341)
In June 2023, the Company and JBS USA Food Company (“JBS USA”) jointly entered into a receivables purchase agreement with a bank for an uncommitted facility with a maximum capacity of $415.0 million and no recourse to the Company or JBS USA. Under the facility, the Company may sell eligible trade receivables in exchange for cash. Transfers under the agreement are recorded as a sale under ASC 860, Broad Transactions – Transfers and Servicing. At the transfer date, the Company received cash equal to the face value of the receivables sold less a fee based on the current Secured Overnight Financing Rate (“SOFR”) plus an applicable margin applied over the customer payment term. The fees are immaterial.