STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 29, 2026

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Income (Loss)

The following tables provide information regarding the changes in accumulated other comprehensive loss:

	Three Months Ended March 29, 2026
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(13,218)	$	(1,475)	$	(32,312)	$	(17)	$	(47,022)
Other comprehensive income (loss) before reclassifications	(64,553)		619		(630)		(26)		(64,590)
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		(166)		(29)		31		(164)
Currency translation	—		(5)		(10)		—		(15)
Net current period other comprehensive income (loss)	(64,553)		448		(669)		5		(64,769)
Balance, end of period	$	(77,771)	$	(1,027)	$	(32,981)	$	(12)	$	(111,791)

	Three Months Ended March 30, 2025
	Losses Related to Foreign Currency Translation		Losses on Derivative Financial Instruments Classified as Cash Flow Hedges		Losses Related to Pension and Other Postretirement Benefits		Losses on Available-for-Sale Securities		Total
	(In thousands)
Balance, beginning of period	$	(337,243)	$	(2,007)	$	(31,028)	$	(22)	$	(370,300)
Other comprehensive income (loss) before reclassifications	84,972		1,673		(484)		(60)		86,101
Amounts reclassified from accumulated other comprehensive loss (income) to net income	—		(10)		(60)		41		(29)
Currency translation	—		(13)		8		—		(5)
Net current period other comprehensive income (loss)	84,972		1,650		(536)		(19)		86,067
Balance, end of period	$	(252,271)	$	(357)	$	(31,564)	$	(41)	$	(284,233)

	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)(a)
Details about Accumulated Other Comprehensive Income (Loss) Components	Three Months Ended March 29, 2026		Three Months Ended March 30, 2025		Affected Line Item in the Condensed Consolidated Statements of Income (Loss)
	(In thousands)
Realized gains (losses) on settlement of foreign currency derivatives classified as cash flow hedges	$	139	$	(3)	Net sales
Realized gains on settlement of foreign currency derivatives classified as cash flow hedges	27		13		Cost of sales
Realized losses on sale of securities	(41)		(54)		Interest income
Amortization of pension and other postretirement plan actuarial losses(b)	39		80		Miscellaneous, net
Total before tax	164		36
Tax expense	—		(7)
Total reclassification for the period	$	164	$	29

(a)    Positive amounts represent income to the results of operations while amounts in parentheses represent expenses to the results of operations.

(b)    These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 13. Pension and Other Postretirement Benefits.”

Preferred Stock

The Company has authorized 50,000,000 shares of $0.01 par value preferred stock, although no shares have been issued and no shares are outstanding.

Restrictions on Dividends

The U.S. Credit Facility and the indentures governing the Company’s senior notes have currently no restrictions on dividends. Under certain triggering events, the U.S. Credit Facility may limit the Company’s ability to declare and pay dividends. Additionally, the Europe Credit Facility may restrict MPH(E) and other Pilgrim’s entities located in the U.K. and Republic of Ireland to, among other things, make payments and distributions to the Company.