XML 48 R111.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Details 1) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 30, 2012
Sep. 23, 2012
Jun. 26, 2012
Mar. 25, 2012
Dec. 25, 2011
Sep. 25, 2011
Jun. 26, 2011
Mar. 27, 2011
Dec. 26, 2010
Sep. 26, 2010
Jun. 27, 2010
Mar. 28, 2010
Dec. 30, 2012
Dec. 25, 2011
Dec. 26, 2010
Net sales $ 2,189,662 [1] $ 2,068,478 $ 1,974,469 $ 1,888,773 $ 1,829,308 [2] $ 1,891,224 $ 1,922,690 $ 1,892,476 $ 1,811,293 [3] $ 1,719,850 $ 1,707,568 $ 1,642,918 $ 8,121,382 $ 7,535,698 $ 6,881,629
Costs and expenses:                              
Cost of sales                         7,685,550 7,675,277 6,416,318
Operational restructuring charges, net                         0 1,958 4,318
Gross profit (loss) 75,543 [1] 106,135 144,089 110,065 20,188 [2] (62,387) (46,228) (53,110) 119,189 [3] 157,294 132,491 52,019 435,832 (141,537) 460,993
Selling, general and administrative expense                         177,041 205,143 209,544
Administrative restructuring charges, net                         8,449 26,911 66,022
Total costs and expenses                         7,871,040 7,909,289 6,696,202
Operating income (loss)                         250,342 (373,591) 185,427
Other expenses (income):                              
Interest expense                         104,926 111,532 105,553
Interest income                         1,397 1,465 3,805
Loss on early extinguishment of debt                         0 0 (11,726)
Foreign currency transaction losses (gains)                         4,810 (12,601) (212)
Miscellaneous, net                         1,439 9,133 13,288
Total other expenses                         97,280 113,535 100,398
Income (loss) from continuing operations before reorganization                         153,062 (487,126) 85,029
Reorganization items, net                         0 0 18,541
Income (loss) from continuing operations before income taxes                         153,062 (487,126) 66,488
Income tax expense (benefit)                         (20,980) 8,564 (23,838)
Income (loss) before equity in earnings of consolidated subsidiaries                         174,042 (495,690) 90,326
Equity in earnings of consolidated subsidiaries                         0 0 0
Net income (loss)                         174,042 (495,690) 90,326
Less: Net loss attributable to noncontrolling interest                         (192) 1,082 3,185
Net income (loss) attributable to Pilgrim's Pride 22,773 [1] 42,931 69,357 39,173 (85,355) [2] (162,516) (128,141) (120,760) 41,844 [3] 57,926 32,918 (45,547) 174,234 (496,772) 87,141
Parent Company [Member]
                             
Net sales                         6,836,012 6,135,319 5,623,958
Costs and expenses:                              
Cost of sales                         6,530,925 6,237,535 5,183,274
Operational restructuring charges, net                           1,958 4,318
Gross profit (loss)                         305,087 (104,174) 436,366
Selling, general and administrative expense                         156,535 174,694 176,589
Administrative restructuring charges, net                         9,743 19,824 59,136
Total costs and expenses                         6,697,203 6,434,011 5,423,317
Operating income (loss)                         138,809 (298,692) 200,641
Other expenses (income):                              
Interest expense                         104,652 110,940 103,735
Interest income                         (295) (363) (580)
Loss on early extinguishment of debt                             11,726
Foreign currency transaction losses (gains)                         95 (31) 314
Miscellaneous, net                         (2,131) 59,661 91,576
Total other expenses                         102,321 170,207 206,771
Income (loss) from continuing operations before reorganization                             (6,130)
Reorganization items, net                             18,348
Income (loss) from continuing operations before income taxes                         36,488 (468,899) (24,478)
Income tax expense (benefit)                         (38,852) (14,139) (15,266)
Income (loss) before equity in earnings of consolidated subsidiaries                         75,340 (454,760) (9,212)
Equity in earnings of consolidated subsidiaries                         101,372 (9,334) 65,544
Net income (loss)                         176,712 (464,094) 56,332
Less: Net loss attributable to noncontrolling interest                         0 0 0
Net income (loss) attributable to Pilgrim's Pride                         176,712 (464,094) 56,332
Guarantor Subsidiaries [Member]
                             
Net sales                         537,198 458,932 470,649
Costs and expenses:                              
Cost of sales                         511,800 430,343 449,358
Operational restructuring charges, net                           0 0
Gross profit (loss)                         25,398 28,589 21,291
Selling, general and administrative expense                         0 0 (279)
Administrative restructuring charges, net                         0 0 0
Total costs and expenses                         511,800 430,343 449,079
Operating income (loss)                         25,398 28,589 21,570
Other expenses (income):                              
Interest expense                         0 0 0
Interest income                         0 0 0
Loss on early extinguishment of debt                             0
Foreign currency transaction losses (gains)                         0 0 0
Miscellaneous, net                         (14) 3,818 4,241
Total other expenses                         (14) 3,818 4,241
Income (loss) from continuing operations before reorganization                         25,412   17,329
Reorganization items, net                             0
Income (loss) from continuing operations before income taxes                           24,771 17,329
Income tax expense (benefit)                         9,593 9,351 6,542
Income (loss) before equity in earnings of consolidated subsidiaries                         15,819 15,420 10,787
Equity in earnings of consolidated subsidiaries                         0 0 0
Net income (loss)                         15,819 15,420 10,787
Less: Net loss attributable to noncontrolling interest                         0 0 0
Net income (loss) attributable to Pilgrim's Pride                         15,819 15,420 10,787
Non-Guarantor Subsidiaries [Member]
                             
Net sales                         992,501 1,225,128 1,173,766
Costs and expenses:                              
Cost of sales                         887,154 1,291,080 1,170,430
Operational restructuring charges, net                           0 0
Gross profit (loss)                         105,347 (65,952) 3,336
Selling, general and administrative expense                         20,506 30,449 33,234
Administrative restructuring charges, net                         (1,294) 7,087 6,886
Total costs and expenses                         906,366 1,328,616 1,210,550
Operating income (loss)                         86,135 (103,488) (36,784)
Other expenses (income):                              
Interest expense                         274 592 1,818
Interest income                         (1,102) (1,102) (3,225)
Loss on early extinguishment of debt                             0
Foreign currency transaction losses (gains)                         (4,905) 12,632 (102)
Miscellaneous, net                         22 (98,360) (110,261)
Total other expenses                         (5,711) (86,238) (111,770)
Income (loss) from continuing operations before reorganization                             74,986
Reorganization items, net                             193
Income (loss) from continuing operations before income taxes                         91,846 (17,250) 74,793
Income tax expense (benefit)                         8,279 13,352 (15,114)
Income (loss) before equity in earnings of consolidated subsidiaries                         83,567 (30,602) 89,907
Equity in earnings of consolidated subsidiaries                         0 0 0
Net income (loss)                         83,567 (30,602) 89,907
Less: Net loss attributable to noncontrolling interest                         (192) 1,082 3,185
Net income (loss) attributable to Pilgrim's Pride                         83,759 (31,684) 86,722
Consolidation, Eliminations [Member]
                             
Net sales                         (244,329) (283,681) (386,744)
Costs and expenses:                              
Cost of sales                         (244,329) (283,681) (386,744)
Operational restructuring charges, net                           0 0
Gross profit (loss)                         0 0 0
Selling, general and administrative expense                         0 0 0
Administrative restructuring charges, net                         0 0 0
Total costs and expenses                         (244,329) (283,681) (386,744)
Operating income (loss)                         0 0 0
Other expenses (income):                              
Interest expense                         0 0 0
Interest income                         0 0 0
Loss on early extinguishment of debt                             0
Foreign currency transaction losses (gains)                         0 0 0
Miscellaneous, net                         684 25,748 1,156
Total other expenses                         684 25,748 1,156
Income (loss) from continuing operations before reorganization                             (1,156)
Reorganization items, net                             0
Income (loss) from continuing operations before income taxes                         (684) (25,748) (1,156)
Income tax expense (benefit)                         0 0 0
Income (loss) before equity in earnings of consolidated subsidiaries                         (684) (25,748) (1,156)
Equity in earnings of consolidated subsidiaries                         (101,372) 9,334 (65,544)
Net income (loss)                         (102,056) (16,414) (66,700)
Less: Net loss attributable to noncontrolling interest                         0 0 0
Net income (loss) attributable to Pilgrim's Pride                         $ (102,056) $ (16,414) $ (66,700)
[1] In the fourth quarter of 2012, the Company recognized expenses related to the shutdown of our Dallas plant of $1.1 million and asset impairment charges of $1.4 million.
[2] In the fourth quarter of 2011, the Company recognized restructuring charges of $14.6 million, asset impairment charges of $11.3 million and net gains on derivative financial instruments of $3.1 million.
[3] Significant facilities closed included one processing plant in 2008, two processing plants in 2009, two processing plants in the transition period and one processing plant in 2011. The transition period began September 27, 2009 and ended December 27, 2009 and resulted from the Company’s change in its fiscal year end from the Saturday nearest September 30 each year to the last Sunday in December of each year.