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SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)
9 Months Ended
Sep. 23, 2012
Guarantees [Abstract]  
Schedule of Condensed Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATING BALANCE SHEETS
September 23, 2012

Subsidiary Subsidiary Eliminations/
      Parent       Guarantor       Non-Guarantors       Adjustments       Consolidation
(In thousands)
Cash and cash equivalents $      16,958 $      $      38,072 $      $      55,030
Restricted cash and cash equivalents 4,526 4,526
Investment in available-for-sale securities
Trade accounts and other receivables, less allowance for
       doubtful accounts 319,616 2,034 46,204 367,854
Account receivable from JBS USA, LLC 8,170 8,170
Inventories 840,969 26,324 111,950 979,243
Income taxes receivable 58,344 7,187 (587 ) 64,944
Current deferred tax assets 4,003 506 (4,509 )
Prepaid expenses and other current assets 32,307 152 22,425 54,884
Assets held for sale 12,891 15,935 28,826
              Total current assets 1,289,255 32,513 246,805 (5,096 ) 1,563,477
Investment in available-for-sale securities
Intercompany receivable 16,778 49,196 (65,974 )
Investment in subsidiaries 367,872 (367,872 )
Deferred tax assets 75,392 7 (4,300 ) 71,099
Other long-lived assets 48,418 180,513 (180,000 ) 48,931
Identified intangible assets, net 28,443 11,360 39,803
Property, plant and equipment, net 1,051,561 46,385 102,906 (3,888 ) 1,196,964
                     Total assets $ 2,877,719 $ 128,094 $ 541,591 $ (627,130 ) $ 2,920,274
Accounts payable $ 264,730 $ 10,234 $ 45,040 $ $ 320,004
Account payable to JBS USA, LLC 6,280   6,280
Accrued expenses and other current liabilities 255,964 22,300 32,199

310,463

Income taxes payable 587 (587 )
Current deferred tax liabilities 82,823 1,005 (4,509 ) 79,319
Current maturities of long-term debt 15,619 15,619
              Total current liabilities 625,416 32,534 78,831 (5,096 ) 731,685
Long-term debt, less current maturities 1,176,127 (25,000 ) 1,151,127
Intercompany payable   65,974 (65,974 )
Deferred tax liabilities   4,003   297 (4,300 )
Other long-term liabilities 296,378 3,368 (155,000 ) 144,746
              Total liabilities 2,097,921 36,537 148,470 (255,370 ) 2,027,558
              Total Pilgrim’s Pride Corporation stockholders’  
                     equity 779,798 91,557 390,073 (371,760 ) 889,668
Noncontrolling interest 3,048 3,048
              Total stockholders’ equity 779,798 91,557 393,121 (371,760 ) 892,716
                     Total liabilities and stockholders’ equity $ 2,877,719 $ 128,094 $ 541,591 $ (627,130 ) $ 2,920,274
 
 
 

CONDENSED CONSOLIDATING BALANCE SHEETS
December 25, 2011

            Subsidiary       Subsidiary       Eliminations/      
Parent Guarantor Non-Guarantors Adjustments Consolidation
(In thousands)
Cash and cash equivalents $       13,733 $       30 $       27,846 $       $       41,609
Restricted cash and cash equivalents 7,680 7,680
Investment in available-for-sale securities 157 157
Trade accounts and other receivables, less allowance for
       doubtful accounts 302,809 1,575 44,838 349,222
Account receivable from JBS USA, LLC 21,198 21,198
Inventories 766,227 21,144 91,723 879,094
Income taxes receivable 62,160 528 (3,621 ) 59,067
Current deferred tax assets 4,003 1,478 (5,481 )
Prepaid expenses and other current assets 35,877 87 16,386 52,350
Assets held for sale 37,754 16,062 53,816
              Total current assets 1,239,758 26,839 206,698 (9,102 ) 1,464,193
Investment in available-for-sale securities 497 497
Intercompany receivable 50,064 33,978 (84,042 )
Investment in subsidiaries 304,395 (304,395 )
Deferred tax assets 75,392 7 (4,300 ) 71,099
Other long-lived assets 57,460 180,461 (180,000 ) 57,921
Identified intangible assets, net 31,384 12,699 44,083
Property, plant and equipment, net 1,090,376 49,336 105,928 (3,888 ) 1,241,752
                     Total assets $ 2,848,829 $ 110,153 $ 506,290 $ (585,727 ) $ 2,879,545
Accounts payable $ 270,538 $ 13,033 $ 45,293 $ $ 328,864
Account payable to JBS USA, LLC 11,653 11,653
Accrued expenses and other current liabilities 226,016 17,193 38,588 281,797
Income taxes payable 3,621 (3,621 )
Current deferred tax liabilities 83,795 934 (5,481 ) 79,248
Current maturities of long-term debt 15,611 15,611
              Total current liabilities 607,613 30,226 88,436 (9,102 ) 717,173
Long-term debt, less current maturities 1,433,001 (25,000 ) 1,408,001
Note payable to JBS USA Holdings, Inc. 50,000 50,000
Intercompany payable 84,042 (84,042 )
Deferred tax liabilities 4,003 297 (4,300 )
Other long-term liabilities 289,697 11,675 (155,431 ) 145,941
              Total liabilities 2,380,311 34,229 184,450 (277,875 ) 2,321,115
              Total Pilgrim’s Pride Corporation stockholders’
                   equity 468,518 75,924 319,022 (307,852 ) 555,612
Noncontrolling interest 2,818 2,818
              Total stockholders’ equity 468,518 75,924 321,840 (307,852 ) 558,430
                     Total liabilities and stockholders’ equity $ 2,848,829 $ 110,153 $ 506,290 $ (585,727 ) $ 2,879,545
Schedule of Condensed Income Statement [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirteen Weeks Ended September 23, 2012

Subsidiary Subsidiary Eliminations/
      Parent       Guarantor       Non-Guarantors       Adjustments       Consolidation
(In thousands)
Net sales $      1,809,883 $      71,124 $            246,519 $      (59,048 ) $      2,068,478
Cost of sales 1,741,370 64,999 215,022 (59,048 ) 1,962,343
       Gross profit 68,513 6,125 31,497 106,135
Selling, general and administrative expense 37,172 4,610 41,782
Administrative restructuring charges 2,647 2,647
       Operating income 28,694 6,125 26,887 61,706
Interest expense, net 25,464 (204 ) 25,260
Interest income (277 ) 21 (256 )
Foreign currency transaction losses (33 ) (7,668 ) (7,701 )
Miscellaneous, net (348 ) (2 ) 560 203 413
       Income before income taxes 3,888 6,127 34,178 (203 ) 43,990
Income tax expense (benefit) (3,584 ) 2,313 2,320 1,049
       Income before equity in earnings of
              consolidated subsidiaries 7,472 3,814 31,858 (203 ) 42,941
Equity in earnings of consolidated subsidiaries   39,134 (39,134 )
       Net income (loss) 46,606   3,814     31,858 (39,337 ) 42,941
Less: Net loss attributable to noncontrolling interest   10 10
       Net income (loss) attributable to Pilgrim’s Pride  
              Corporation $ 46,606 $ 3,814 $ 31,848 $ (39,337 ) $ 42,931
 
Comprehensive income (loss) $ 41,479 $ 3,814   $ 31,858 $ (39,337 ) $ 37,814  
Comprehensive loss attributable to        
       noncontrolling interests 10     10
Comprehensive income (loss) attributable to    
       Pilgrim's Pride Corporation $ 41,479 3,814 $ 31,848 $ (39,337 ) $ 37,804

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirteen Weeks Ended September 25, 2011

Subsidiary Subsidiary Eliminations/
      Parent       Guarantor       Non-Guarantors       Adjustments       Consolidation
(In thousands)
Net sales $      1,536,794 $      110,438 $            309,764 $      (65,772 ) $      1,891,224
Cost of sales 1,583,838 105,531 330,014 (65,772 ) 1,953,611
Operational restructuring charges
       Gross profit (loss) (47,044 ) 4,907 (20,250 ) (62,387 )
Selling, general and administrative expense 45,240 5,957 51,197
Administrative restructuring charges 4,583 6,889 11,472
       Operating income (loss) (96,867 ) 4,907 (33,096 ) (125,056 )
Interest expense, net 27,845 85 27,930
Interest income (323 ) (323 )
Foreign currency transaction losses 114 13,811 13,925
Miscellaneous, net 25,645 1,125 (30,653 ) 155 (3,728 )
       Income (loss) before income taxes (150,471 ) 3,782 (16,016 ) (155 ) (162,860 )
Income tax expense (benefit) (3,257 ) 1,428 1,769 (60 )
       Income (loss) before equity in earnings of
              consolidated subsidiaries (147,214 ) 2,354 (17,785 ) (155 )   (162,800 )
Equity in earnings of consolidated subsidiaries (12,217 ) 12,217  
       Net income (loss) (159,431 ) 2,354 (17,785 ) 12,062 (162,800 )
Less: Net income attributable to noncontrolling
       interests (284 ) (284 )
       Net income (loss) attributable to Pilgrim’s
              Pride Corporation $ (159,431 ) $ 2,354 $ (17,501 ) $ 12,062 $ (162,516 )
 
Comprehensive income (loss) $ (159,431 ) $ 2,354 $ (17,785 ) $ 12,062 $ (162,800 )
Comprehensive income attributable to        
       noncontrolling interests       (284 )   (284 )
Comprehensive income (loss) attributable to  
       Pilgrim's Pride Corporation $ (159,431 ) $ 2,354 $ (17,501 ) $ 12,062 $ (162,516 )

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirty-Nine Weeks Ended September 23, 2012

Subsidiary Subsidiary Eliminations/
Parent       Guarantor       Non-Guarantors       Adjustments       Consolidation
            (In thousands)            
Net sales $      5,192,507 $      219,464 $      707,363 $      (187,614 ) $      5,931,720
Cost of sales 4,934,941 198,081 626,023 (187,614 ) 5,571,431
       Gross profit 257,566 21,383 81,340 360,289
Selling, general and administrative expense 116,726 14,751 131,477
Administrative restructuring charges 5,916 5 5,921
       Operating income 134,924 21,383 66,584 222,891
Interest expense, net 78,234 196 78,430
Interest income (293 ) (593 ) (886 )
Foreign currency transaction losses 15 (5,432 ) (5,417 )
Miscellaneous, net (829 ) (13 ) 160 410 (272 )
       Income (loss) before income taxes 57,797   21,396 72,253 (410 ) 151,036
Income tax expense (benefit)   (10,671 ) 8,077 1,938 (656 )
       Income (loss) before equity in earnings of        
             consolidated subsidiaries 68,468   13,319 70,315 (410 ) 151,692
Equity in earnings of consolidated subsidiaries 86,879 (86,879 )  
       Net income (loss) 155,347 13,319     70,315   (87,289 )   151,692
Less: Net income attributable to noncontrolling  
       interest 230 230
       Net income (loss) attributable to Pilgrim’s Pride  
             Corporation $ 155,347 $ 13,319 $ 70,085 $ (87,289 ) $ 151,462  
 
Comprehensive income (loss) $ 139,195 $ 13,319 $ 70,315 $ (87,289 ) $ 135,540
Comprehensive income attributable to
       noncontrolling interests 230 230
Comprehensive income (loss) attributable to
       Pilgrim's Pride Corporation $ 139,195 13,319 $ 70,085 $ (87,289 ) $ 135,310

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirty-Nine Weeks Ended September 25, 2011

Subsidiary Subsidiary Eliminations/
Parent       Guarantor       Non-Guarantors       Adjustments       Consolidation
(In thousands)
Net sales $     4,628,071 $     340,098 $     954,918 $     (216,697 ) $     5,706,390
Cost of sales 4,755,429 314,542 1,011,536 (216,697 ) 5,864,810
Operational restructuring charges 3,305 3,305
       Gross profit (loss) (130,663 ) 25,556 (56,618 ) (161,725 )
Selling, general and administrative expense 135,332 22,009 157,341
Administrative restructuring charges 4,583 6,889 11,472
       Operating income (loss) (270,578 ) 25,556 (85,516 ) (330,538 )
Interest expense, net 82,344 519 82,863
Interest income (354 )   (957 )       (1,311 )
Foreign currency transaction gains (59 ) 11,294 11,235
Miscellaneous, net 77,401 3,477 (87,701 ) 587 (6,236 )
       Income (loss) before income taxes   (429,910 ) 22,079 (8,671 ) (587 ) (417,089 )
Income tax expense (benefit) (19,229 )   8,335 4,432 (6,462 )
       Income (loss) before equity in earnings of  
             consolidated subsidiaries (410,681 ) 13,744   (13,103 ) (587 ) (410,627 )
Equity in earnings of consolidated subsidiaries 685   (685 )  
       Net income (loss) (409,996 ) 13,744 (13,103 ) (1,272 ) (410,627 )
Less: Net income attributable to noncontrolling
       interest 790 790
       Net income (loss) attributable to Pilgrim’s Pride
             Corporation $ (409,996 ) $ 13,744 $ (13,893 ) $ (1,272 ) $ (411,417 )
 
Comprehensive income (loss) $ (411,851 ) $ 13,744 $ (13,103 ) $ (1,272 ) $ (412,482 )
Comprehensive income attributable to
       noncontrolling interests 790 790
Comprehensive income (loss) attributable to
       Pilgrim's Pride Corporation $ (411,851 ) 13,744 $ (13,893 ) $ (1,272 ) $ (413,272 )
Schedule of Condensed Cash Flow Statement [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Thirty-Nine Weeks Ended September 23, 2012

Subsidiary Subsidiary Eliminations/
Parent Guarantor Non-Guarantors Adjustments Consolidation
(In thousands)
Cash provided by operating activities $     138,384       $       1,299       $               16,257       $                21       $       155,961
Cash flows from investing activities:
       Acquisitions of property, plant and equipment (53,577 ) (1,329 ) (7,204 ) (62,110 )
       Purchases of investment securities (73 ) (89 ) (162 )
       Proceeds from sale or maturity of investment
              securities 57 631 688
       Proceeds from property sales and disposals 27,360 1,327 28,687  
              Cash used in investing activities (26,233 ) (1,329 ) (5,335 ) (32,897 )
Cash flows from financing activities:      
       Payments on note payable to JBS USA Holdings, Inc. (50,000 ) (50,000 )
       Proceeds from long-term debt 595,800     595,800
       Payments on long-term debt (853,008 )     (853,008 )
       Proceeds from sale of common stock 198,282 198,282
       Other financing activities   21 (21 )
              Cash provided by (used in) financing activities (108,926 )   21   (21 ) (108,926 )
Effect of exchange rate changes on cash and cash equivalents (717 )   (717 )
Increase (decrease) in cash and cash equivalents 3,225   (30 ) 10,226 13,421
Cash and cash equivalents, beginning of period 13,733 30 27,846 41,609
Cash and cash equivalents, end of period $ 16,958 $ $ 38,072 $ $ 55,030

 

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Thirty-Nine Weeks Ended September 25, 2011

Subsidiary Subsidiary Eliminations/
Parent Guarantor Non-Guarantors Adjustments Consolidation
(In thousands)
Cash provided by (used in) operating activities $     (127,437 )       $     8,249       $              (9,705 )       $            (587 )       $     (129,480 )
Cash flows from investing activities:  
       Acquisitions of property, plant and equipment (106,526 ) (8,414 ) (6,929 ) (121,869 )
       Purchases of investment securities (4,536 ) (4,536 )
       Proceeds from sale or maturity of investment securities 14,631 14,631
       Proceeds from property sales and disposals 5,744 165 1,593 7,502
              Cash used in investing activities (100,782 ) (8,249 ) 4,759 (104,272 )
Cash flows from financing activities:
       Proceeds from long-term debt 804,689   804,689
       Payments on long-term debt (669,832 )   (669,832 )
       Proceeds from note payable to JBS Holdings, Inc. 50,000     50,000
       Purchase of remaining interest in subsidiary   (2,504 )     (2,504 )
       Payment of capitalized loan costs (4,395 )     (4,395 )
       Other financing activities (693 )   587   (106 )
              Cash provided by (used in) financing activities 177,958   (693 )   587 177,852
Effect of exchange rate changes on cash and cash equivalents (3,273 ) (3,273 )
Decrease in cash and cash equivalents (50,261 ) (8,912 ) (59,173 )
Cash and cash equivalents, beginning of period 67,685 38,392 106,077
Cash and cash equivalents, end of period $ 17,424 $ $ 29,480 $ $ 46,904