SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2013

SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION [Abstract]

Schedule of Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Cash and cash equivalents	$	35,866		$	112	$	42,253		$	-		$	78,231
Restricted cash and cash equivalents		-			-		-			-			-
Investment in available-for-sale securities		-			-		-			-			-
Trade accounts and other receivables, less allowance for
doubtful accounts		329,338			2,053		59,070			-			390,461
Account receivable from JBS USA, LLC		3,892			-		-			-			3,892
Inventories		803,524			26,351		122,316			-			952,191
Income taxes receivable		60,975			-		-			(587	)		60,388
Current deferred tax assets		-			3,794		506			(4,300	)		-
Prepaid expenses and other current assets		35,920			107		35,139			-			71,166
Assets held for sale		11,587			-		17,243			-			28,830
Total current assets		1,281,102			32,417		276,527			(4,887	)		1,585,159
Intercompany receivable		(18,037	)		78,873		-			(60,836	)		-
Investment in subsidiaries		440,081			-		-			(440,081	)		-
Deferred tax assets		101,099			-		426			(4,091	)		97,434
Other long-lived assets		38,364			-		180,577			(180,000	)		38,941
Identified intangible assets, net		25,424			-		9,971			-			35,395
Property, plant and equipment, net		1,021,907			45,452		103,514			(3,888	)		1,166,985
Total assets	$	2,889,940		$	156,742	$	571,015		$	(693,783	)	$	2,923,914
Accounts payable	$	267,059		$	12,871	$	47,255		$	-		$	327,185
Accounts payable to JBS USA, LLC		5,793			-		-			-			5,793
Accrued expenses and other current liabilities		284,682			28,999		(28,606	)		-			285,075
Income taxes payable		-			-		11,179			(587	)		10,592
Current deferred tax liabilities		108,200			-		586			(4,300	)		104,486
Current maturities of long-term debt		393			-		-			-			393
Total current liabilities		666,127			41,870		30,414			(4,887	)		733,524
Long-term debt, less current maturities		936,939			-		-			(25,000	)		911,939
Intercompany payable		-			-		60,836			(60,836	)		-
Deferred tax liabilities		-			3,794		297			(4,091	)		-
Other long-term liabilities		83,891			-		3,140			-			87,031
Total liabilities		1,686,957			45,664		94,687			(94,814	)		1,732,494
Total Pilgrim's Pride Corporation stockholders'
equity		1,202,983			111,078		473,970			(598,969	)		1,189,062
Noncontrolling interest		-			-		2,358			-			2,358
Total stockholders' equity		1,202,983			111,078		476,328			(598,969	)		1,191,420
Total liabilities and stockholders' equity	$	2,889,940		$	156,742	$	571,015		$	(693,783	)	$	2,923,914

CONDENSED CONSOLIDATING BALANCE SHEETS
December 30, 2012

(In thousands)
			Subsidiary		Subsidiary		Eliminations/
	Parent		Guarantor		Non-Guarantors		Adjustments			Consolidation
Cash and cash equivalents	$	27,657	$	-	$	40,523	$	-		$	68,180
Restricted cash and cash equivalents		-		-		-		-			-
Investment in available-for-sale securities		-		-		-		-			-
Trade accounts and other receivables, less
allowance for doubtful accounts		326,031		1,843		57,056		-			384,930
Account receivable from JBS USA, LLC		1,514		-		-		-			1,514
Inventories		802,282		22,813		125,201		-			950,296
Income taxes receivable		55,306		-		-		(587	)		54,719
Current deferred tax assets		-		3,794		506		(4,300	)		-
Prepaid expenses and other current assets		29,603		-		26,444		-			56,047
Assets held for sale		9,808		-		17,234		-			27,042
Total current assets		1,252,201		28,450		266,964		(4,887	)		1,542,728
Investment in available-for-sale securities		-		-		-		-			-
Intercompany receivable		19,860		53,706		-		(73,566	)		-
Investment in subsidiaries		376,226		-		-		(376,226	)		-
Deferred tax assets		101,100		-		422		(4,091	)		97,431
Other long-lived assets		44,936		-		180,587		(180,000	)		45,523
Identified intangible assets, net		27,386		-		10,880		-			38,266
Property, plant and equipment, net		1,043,696		45,746		104,368		(3,889	)		1,189,921
Total assets	$	2,865,405	$	127,902	$	563,221	$	(642,659	)	$	2,913,869
Accounts payable	$	255,517	$	4,270	$	52,578	$	-		$	312,365
Accounts payable to JBS USA, LLC		13,436		-		-		-			13,436
Accrued expenses and other current liabilities		230,278		24,265		28,997		-			283,540
Income taxes payable		-		-		1,055		(587	)		468
Current deferred tax liabilities		108,201		-		581		(4,300	)		104,482
Current maturities of long-term debt		15,886		-		-		-			15,886
Total current liabilities		623,318		28,535		83,211		(4,887	)		730,177
Long-term debt, less current maturities		1,173,870		-		-		(25,000	)		1,148,870
Intercompany payable		-		-		73,566		(73,566	)		-
Deferred tax liabilities		-		3,794		297		(4,091	)		-
Other long-term liabilities		122,580		-		3,245		-			125,825
Total liabilities		1,919,768		32,329		160,319		(107,544	)		2,004,872
Total Pilgrim's Pride Corporation
stockholders' equity		945,637		95,573		400,276		(535,115	)		906,371
Noncontrolling interest		-		-		2,626		-			2,626
Total stockholders' equity		945,637		95,573		402,902		(535,115	)		908,997
Total liabilities and stockholders' equity	$	2,865,405	$	127,902	$	563,221	$	(642,659	)	$	2,913,869

Schedule of Condensed Consolidating Statements of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirteen Weeks Ended June 30, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net sales	$	1,879,632		$	195,758	$	296,699		$	(187,970	)	$	2,184,119
Cost of sales		1,678,181			182,082		229,318			(187,970	)		1,901,611
Gross profit		201,451			13,676		67,381			-			282,508
Selling, general and administrative expense		37,013			1,111		5,975			-			44,099
Administrative restructuring charges		480			-		-			-			480
Operating income		163,958			12,565		61,406			-			237,929
Interest expense, net		22,781			-		184			-			22,965
Interest income		(3	)		-		(704	)		-			(707	)
Foreign currency transaction losses		1			-		9,712			-			9,713
Miscellaneous, net		(2,031	)		1,088		3			223			(717	)
Income before income taxes		143,210			11,477		52,211			(223	)		206,675
Income tax expense (benefit)		(5,969	)		3,885		17,968			-			15,884
Income before equity in earnings of
consolidated subsidiaries		149,179			7,592		34,243			(223	)		190,791
Equity in earnings of consolidated subsidiaries		41,526			-		-			(41,526	)		-
Net income (loss)		190,705			7,592		34,243			(41,749	)		190,791
Less: Net income attributable to noncontrolling
interest		-			-		86			-			86
Net income (loss) attributable to Pilgrim's Pride
Corporation	$	190,705		$	7,592	$	34,157		$	(41,749	)	$	190,705

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirteen Weeks Ended June 24, 2012

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Net sales	$	1,743,061		$	71,854		$	227,555		$	(68,001	)	$	1,974,469
Cost of sales		1,626,219			65,539			206,623			(68,001	)		1,830,380
Gross profit		116,842			6,315			20,932			-			144,089
Selling, general and administrative expense		39,336			-			5,103			-			44,439
Administrative restructuring charges		389			-			-			-			389
Operating income		77,117			6,315			15,829			-			99,261
Interest expense, net		24,694			-			231			-			24,925
Interest income		(7	)		-			(349	)		-			(356	)
Foreign currency transaction losses (gains)		25			-			8,187			-			8,212
Miscellaneous, net		(363	)		(2	)		129			(79	)		(315	)
Income (loss) before income taxes		52,768			6,317			7,631			79			66,795
Income tax expense (benefit)		(2,410	)		2,385			(2,333	)		-			(2,358	)
Income (loss) before equity in earnings of
consolidated subsidiaries		55,178			3,932			9,964			79			69,153
Equity in earnings of consolidated subsidiaries		14,180			-			-			(14,180	)		-
Net income (loss)		69,358			3,932			9,964			(14,101	)		69,153
Less: Net loss attributable to noncontrolling interest		-			-			(205	)		-			(205	)
Net income (loss) attributable to Pilgrim's Pride
Corporation	$	69,358		$	3,932		$	10,169		$	(14,101	)	$	69,358

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Twenty-Six Weeks Ended June 30, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net sales	$	3,649,426		$	271,418	$	555,898		$	(255,694	)	$	4,221,048
Cost of sales		3,382,979			249,016		443,805			(255,694	)		3,820,106
Gross profit		266,447			22,402		112,093			-			400,942
Selling, general and administrative expense		74,497			2,119		11,475			-			88,091
Administrative restructuring charges		964			-		-			-			964
Operating income		190,986			20,283		100,618			-			311,887
Interest expense, net		47,464			-		322			-			47,786
Interest income		(6	)		-		(917	)		-			(923	)
Foreign currency transaction losses		(9	)		-		2,098			-			2,089
Miscellaneous, net		(3,746	)		2,309		533			182			(722	)
Income before income taxes		147,283			17,974		98,582			(182	)		263,657
Income tax expense (benefit)		(11,840	)		5,854		24,624			-			18,638
Income before equity in earnings of
consolidated subsidiaries		159,123			12,120		73,958			(182	)		245,019
Equity in earnings of consolidated subsidiaries		86,164			-		-			(86,164	)		-
Net income (loss)		245,287			12,120		73,958			(86,346	)		245,019
Less: Net loss attributable to noncontrolling interest		-			-		(268	)		-			(268	)
Net income (loss) attributable to Pilgrim's Pride
Corporation	$	245,287		$	12,120	$	74,226		$	(86,346	)	$	245,287

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Twenty-Six Weeks Ended June 24, 2012

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Net sales	$	3,382,624		$	148,340		$	460,844		$	(128,566	)	$	3,863,242
Cost of sales		3,193,571			133,082			411,001			(128,566	)		3,609,088
Gross profit		189,053			15,258			49,843			-			254,154
Selling, general and administrative expense		79,554			-			10,141			-			89,695
Administrative restructuring charges		3,269			-			5			-			3,274
Operating income		106,230			15,258			39,697			-			161,185
Interest expense, net		52,770			-			400			-			53,170
Interest income		(16	)		-			(614	)		-			(630	)
Foreign currency transaction losses (gains)		48			-			2,236			-			2,284
Miscellaneous, net		(481	)		(11	)		(400	)		207			(685	)
Income (loss) before income taxes		53,909			15,269			38,075			(207	)		107,046
Income tax expense (benefit)		(7,087	)		5,764			(382	)		-			(1,705	)
Income (loss) before equity in earnings of
consolidated subsidiaries		60,996			9,505			38,457			(207	)		108,751
Equity in earnings of consolidated subsidiaries		47,535			-			-			(47,535	)		-
Net income (loss)		108,531			9,505			38,457			(47,742	)		108,751
Less: Net income attributable to noncontrolling
interest		-			-			220			-			220
Net income (loss) attributable to Pilgrim's Pride
Corporation	$	108,531		$	9,505		$	38,237		$	(47,742	)	$	108,531

Schedule of Condensed Consolidating Statements of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Thirteen Weeks Ended June 30, 2013

(In thousands)
			Subsidiary		Subsidiary		Eliminations/
	Parent		Guarantor		Non-Guarantors		Adjustments			Consolidation
Net income (loss)	$	190,705	$	7,592	$	34,243	$	(41,749	)	$	190,791
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-		-		-		-			-
Gains associated with pension and other
postretirement benefits, net of tax		25,391		-		-		-			25,391
Total other comprehensive income, net of tax		25,391		-		-		-			25,391
Comprehensive income (loss)		216,096		7,592		34,243		(41,749	)		216,182
Less: Comprehensive income attributable to
noncontrolling interests		-		-		86		-			86
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	216,096	$	7,592	$	34,157	$	(41,749	)	$	216,096

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Thirteen Weeks Ended June 24, 2012

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net income (loss)	$	69,358		$	3,932	$	9,964		$	(14,101	)	$	69,153
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-			-		(5	)		-			(5	)
Gains associated with pension and other
postretirement benefits, net of tax		(11,440	)		-		-			-			(11,440	)
Total other comprehensive income, net of tax		(11,440	)		-		(5	)		-			(11,445	)
Comprehensive income (loss)		57,918			3,932		9,959			(14,101	)		57,708
Less: Comprehensive loss attributable to
noncontrolling interests		-			-		(205	)		-			(205	)
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	57,918		$	3,932	$	10,164		$	(14,101	)	$	57,913

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Twenty-Six Weeks Ended June 30, 2013

(In thousands)
			Subsidiary		Subsidiary			Eliminations/
	Parent		Guarantor		Non-Guarantors			Adjustments			Consolidation
Net income (loss)	$	245,287	$	12,120	$	73,958		$	(86,346	)	$	245,019
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-		-		-			-			-
Gains associated with pension and other
postretirement benefits, net of tax		35,801		-		-			-			35,801
Total other comprehensive income, net of tax		35,801		-		-			-			35,801
Comprehensive income (loss)		281,088		12,120		73,958			(86,346	)		280,820
Less: Comprehensive loss attributable to
noncontrolling interests		-		-		(268	)		-			(268	)
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	281,088	$	12,120	$	74,226		$	(86,346	)	$	281,088

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Twenty-Six Weeks Ended June 24, 2012

(In thousands)
				Subsidiary		Subsidiary		Eliminations/
	Parent			Guarantor		Non-Guarantors		Adjustments			Consolidation
Net income (loss)	$	108,531		$	9,505	$	38,457	$	(47,742	)	$	108,751
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-			-		-		-			-
Gains associated with pension and other
postretirement benefits, net of tax		(11,025	)		-		-		-			(11,025	)
Total other comprehensive income, net of tax		(11,025	)		-		-		-			(11,025	)
Comprehensive income (loss)		97,506			9,505		38,457		(47,742	)		97,726
Less: Comprehensive income attributable to
noncontrolling interests		-			-		220		-			220
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	97,506		$	9,505	$	38,237	$	(47,742	)	$	97,506

Schedule of Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Twenty-Six Weeks Ended June 30, 2013

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Cash flows provided (used in) by operating activities	$	299,035		$	2,747		$	9,327		$	(182	)	$	310,927
Cash flows from investing activities:
Acquisitions of property, plant and equipment		(40,170	)		(2,640	)		(6,159	)		-			(48,969	)
Purchases of investment securities		-			-			-			-			-
Proceeds from property sales and disposals		1,995			5			883			-			2,883
Cash used in investing activities		(38,175	)		(2,635	)		(5,276	)		-			(46,086	)
Cash flows from financing activities:
Payments on note payable to JBS USA Holdings, Inc.		-			-			-			-			-
Proceeds from long-term debt		505,600			-			-			-			505,600
Payments on long-term debt		(758,251	)		-			-			-			(758,251	)
Proceeds from sale of common stock		-			-			-			-			-
Other financing activities		-			-			(182	)		182			-
Cash provided by (used in) financing activities		(252,651	)		-			(182	)		182			(252,651	)
Effect of exchange rate changes on cash and cash equivalents		-			-			(2,139	)		-			(2,139	)
Increase (decrease) in cash and cash equivalents		8,209			112			1,730			-			10,051
Cash and cash equivalents, beginning of period		27,657			-			40,523			-			68,180
Cash and cash equivalents, end of period	$	35,866		$	112		$	42,253		$	-		$	78,231

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Twenty-Six Weeks Ended June 24, 2012

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Cash flows provided (used in) by operating activities	$	77,717		$	620		$	1,761		$	224		$	80,322
Cash flows from investing activities:
Acquisitions of property, plant and equipment		(32,535	)		(642	)		(4,384	)		-			(37,561	)
Purchases of investment securities		(73	)		-			(89	)		-			(162	)
Proceeds from sale or maturity of investment
securities		58			-			-			-			58
Proceeds from property sales and disposals		11,640			-			821			-			12,461
Cash used in investing activities		(20,910	)		(642	)		(3,652	)		-			(25,204	)
Cash flows from financing activities:
Payments on note payable to JBS USA Holdings, Inc.		(50,000	)		-			-			-			(50,000	)
Proceeds from long-term debt		391,300			-			-			-			391,300
Payments on long-term debt		(584,904	)		-			-			-			(584,904	)
Proceeds from sale of common stock		198,282			-			-			-			198,282
Other financing activities		-			-			224			(224	)		-
Cash provided by (used in) financing activities		(45,322	)		-			224			(224	)		(45,322	)
Effect of exchange rate changes on cash and cash equivalents		-			-			(2,178	)		-			(2,178	)
Increase (decrease) in cash and cash equivalents		11,485			(22	)		(3,845	)		-			7,618
Cash and cash equivalents, beginning of period		13,733			30			27,846			-			41,609
Cash and cash equivalents, end of period	$	25,218		$	8		$	24,001		$	-		$	49,227