SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 29, 2013

SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION [Abstract]

Schedule of Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEETS
September 29, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Cash and cash equivalents	$	259,985		$	-	$	70,331		$	-		$	330,316
Trade accounts and other receivables, less allowance for
doubtful accounts		352,947			1,925		52,130			-			407,002
Account receivable from JBS USA, LLC		4,454			-		-			-			4,454
Inventories		793,614			23,845		94,507			(880	)		911,086
Income taxes receivable		60,948			-		6,288			(587	)		66,649
Current deferred tax assets		-			3,794		506			(4,300	)		-
Prepaid expenses and other current assets		37,356			110		35,359			-			72,825
Assets held for sale		8,618			-		16,702			-			25,320
Total current assets		1,517,922			29,674		275,823			(5,767	)		1,817,652
Intercompany receivable		(27,638	)		95,893		-			(68,255	)		-
Investment in subsidiaries		457,862			-		-			(457,862	)		-
Deferred tax assets		63,292			-		419			(4,091	)		59,620
Other long-lived assets		38,263			-		180,568			(180,000	)		38,831
Identified intangible assets, net		24,444			-		9,516			-			33,960
Property, plant and equipment, net		1,014,598			45,529		103,119			(3,888	)		1,159,358
Total assets	$	3,088,743		$	171,096	$	569,445		$	(719,863	)	$	3,109,421
Accounts payable	$	309,014		$	13,086	$	47,934		$	-		$	370,034
Accounts payable to JBS USA, LLC		5,893			-		-			-			5,893
Accrued expenses and other current liabilities		307,251			31,325		(36,481	)		-			302,095
Income taxes payable		-			-		587			(587	)		-
Current deferred tax liabilities		84,572			-		577			(4,300	)		80,849
Current maturities of long-term debt		396			-		-			-			396
Total current liabilities		707,126			44,411		12,617			(4,887	)		759,267
Long-term debt, less current maturities		937,019			-		-			(25,000	)		912,019
Intercompany payable		-			-		68,255			(68,255	)		-
Deferred tax liabilities		-			3,794		297			(4,091	)		-
Other long-term liabilities		81,406			-		3,160			-			84,566
Total liabilities		1,725,551			48,205		84,329			(102,233	)		1,755,852
Total Pilgrim's Pride Corporation stockholders'
equity		1,363,192			122,891		482,651			(617,630	)		1,351,104
Noncontrolling interest		-			-		2,465			-			2,465
Total stockholders' equity		1,363,192			122,891		485,116			(617,630	)		1,353,569
Total liabilities and stockholders' equity	$	3,088,743		$	171,096	$	569,445		$	(719,863	)	$	3,109,421

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
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 September 29, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net sales	$	1,889,353		$	132,942	$	245,372		$	(124,852	)	$	2,142,815
Cost of sales		1,676,605			117,753		235,856			(123,972	)		1,906,242
Gross profit		212,748			15,189		9,516			(880	)		236,573
Selling, general and administrative expense		36,976			1,068		5,753			-			43,797
Administrative restructuring charges		3,126			-		532			-			3,658
Operating income		172,646			14,121		3,231			(880	)		189,118
Interest expense, net		20,246			-		167			-			20,413
Interest income		(8	)		-		(563	)		-			(571	)
Foreign currency transaction losses (gains)		(1	)		-		2,683			-			2,682
Miscellaneous, net		(1,508	)		1,260		(98	)		338			(8	)
Income before income taxes		153,917			12,861		1,042			(1,218	)		166,602
Income tax expense (benefit)		13,643			-		(8,065	)		-			5,578
Income before equity in earnings of consolidated
subsidiaries		140,274			12,861		9,107			(1,218	)		161,024
Equity in earnings of consolidated subsidiaries		20,643			-		-			(20,643	)		-
Net income		160,917			12,861		9,107			(21,861	)		161,024
Less: Net income attributable to noncontrolling interest		-			-		107			-			107
Net income attributable to Pilgrim's Pride
Corporation	$	160,917		$	12,861	$	9,000		$	(21,861	)	$	160,917

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

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
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, net		(277	)		-			21			-			(256	)
Foreign currency transaction gains		(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		35,459			-			-			(35,459	)		-
Net income		42,931			3,814			31,858			(35,662	)		42,941
Less: Net income attributable to noncontrolling interest		-			-			10			-			10
Net income attributable to Pilgrim's Pride
Corporation	$	42,931		$	3,814		$	31,848		$	(35,662	)	$	42,931

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Thirty-Nine Weeks Ended September 29, 2013

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net sales	$	5,538,779		$	404,360	$	801,270		$	(380,546	)	$	6,363,863
Cost of sales		5,059,584			366,769		679,661			(379,666	)		5,726,348
Gross profit		479,195			37,591		121,609			(880	)		637,515
Selling, general and administrative expense		111,473			3,187		17,228			-			131,888
Administrative restructuring charges		4,090			-		532			-			4,622
Operating income		363,632			34,404		103,849			(880	)		501,005
Interest expense, net		67,710			-		489			-			68,199
Interest income		(14	)		-		(1,480	)		-			(1,494	)
Foreign currency transaction losses (gains)		(10	)		-		4,781			-			4,771
Miscellaneous, net		(5,254	)		3,569		435			520			(730	)
Income before income taxes		301,200			30,835		99,624			(1,400	)		430,259
Income tax expense		528			5,764		17,924			-			24,216
Income before equity in earnings of consolidated
subsidiaries		300,672			25,071		81,700			(1,400	)		406,043
Equity in earnings of consolidated subsidiaries		105,532			-		-			(105,532	)		-
Net income		406,204			25,071		81,700			(106,932	)		406,043
Less: Net loss attributable to noncontrolling interest		-			-		(161	)		-			(161	)
Net income attributable to Pilgrim's Pride
Corporation	$	406,204		$	25,071	$	81,861		$	(106,932	)	$	406,204

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

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
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 (gains)		15			-			(5,432	)		-			(5,417	)
Miscellaneous, net		(829	)		(13	)		160			410			(272	)
Income before income taxes		57,797			21,396			72,253			(410	)		151,036
Income tax expense (benefit)		(10,671	)		8,077			1,938			-			(656	)
Income before equity in earnings of
consolidated subsidiaries		68,468			13,319			70,315			(410	)		151,692
Equity in earnings of consolidated subsidiaries		82,994			-			-			(82,994	)		-
Net income		151,462			13,319			70,315			(83,404	)		151,692
Less: Net income attributable to noncontrolling interest		-			-			230			-			230
Net income attributable to Pilgrim's Pride
Corporation	$	151,462		$	13,319		$	70,085		$	(83,404	)	$	151,462

Schedule of Condensed Consolidating Statements of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Thirteen Weeks Ended September 29, 2013

(In thousands)
			Subsidiary		Subsidiary		Eliminations/
	Parent		Guarantor		Non-Guarantors		Adjustments			Consolidation
Net income	$	160,917	$	12,861	$	9,107	$	(21,861	)	$	161,024
Other comprehensive income:
Gains associated with pension and other
postretirement benefits, net of tax		313		-		-		-			313
Total other comprehensive income, net of tax		313		-		-		-			313
Comprehensive income		161,230		12,861		9,107		(21,861	)		161,337
Less: Comprehensive income attributable to
noncontrolling interests		-		-		107		-			107
Comprehensive income attributable to
Pilgrim's Pride Corporation	$	161,230	$	12,861	$	9,000	$	(21,861	)	$	161,230

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Thirteen Weeks Ended September 23, 2012

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net income	$	42,931		$	3,814	$	31,858		$	(35,662	)	$	42,941
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-			-		(12	)		-			(12	)
Gains associated with pension and other
postretirement benefits, net of tax		(5,115	)		-		-			-			(5,115	)
Total other comprehensive income, net of tax		(5,115	)		-		(12	)		-			(5,127	)
Comprehensive income		37,816			3,814		31,846			(35,662	)		37,814
Less: Comprehensive income attributable to
noncontrolling interests		-			-		10			-			10
Comprehensive income attributable to
Pilgrim's Pride Corporation	$	37,816		$	3,814	$	31,836		$	(35,662	)	$	37,804

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Thirty-Nine Weeks Ended September 29, 2013

(In thousands)
			Subsidiary		Subsidiary			Eliminations/
	Parent		Guarantor		Non-Guarantors			Adjustments			Consolidation
Net income	$	406,204	$	25,071	$	81,700		$	(106,932	)	$	406,043
Other comprehensive income:
Gains associated with pension and other
postretirement benefits, net of tax		36,114		-		-			-			36,114
Total other comprehensive income, net of tax		36,114		-		-			-			36,114
Comprehensive income		442,318		25,071		81,700			(106,932	)		442,157
Less: Comprehensive loss attributable to
noncontrolling interests		-		-		(161	)		-			(161	)
Comprehensive income attributable to
Pilgrim's Pride Corporation	$	442,318	$	25,071	$	81,861		$	(106,932	)	$	442,318

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

(In thousands)
				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
Net income	$	151,462		$	13,319	$	70,315		$	(83,404	)	$	151,692
Other comprehensive income:
Unrealized holding gains on available-for-sale
securities, net of tax		-			-		(12	)		-			(12	)
Gains associated with pension and other
postretirement benefits, net of tax		(16,140	)		-		-			-			(16,140	)
Total other comprehensive income, net of tax		(16,140	)		-		(12	)		-			(16,152	)
Comprehensive income		135,322			13,319		70,303			(83,404	)		135,540
Less: Comprehensive income attributable to
noncontrolling interests		-			-		230			-			230
Comprehensive income attributable to
Pilgrim's Pride Corporation	$	135,322		$	13,319	$	70,073		$	(83,404	)	$	135,310

Schedule of Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Thirty-Nine Weeks Ended September 29, 2013

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Cash flows provided by operating activities	$	551,027		$	4,235		$	41,974		$	(520	)	$	596,716
Cash flows from investing activities:
Acquisitions of property, plant and equipment		(63,298	)		(4,240	)		(8,755	)		-			(76,293	)
Purchases of investment securities		-			-			-			-			-
Proceeds from property sales and disposals		2,288			5			1,037			-			3,330
Cash used in investing activities		(61,010	)		(4,235	)		(7,718	)		-			(72,963	)
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		(758,283	)		-			-			-			(758,283	)
Proceeds from sale of common stock		-			-			-			-			-
Payment of capitalized loan costs		(5,006	)		-			-			-			(5,006	)
Other financing activities		-			-			(520	)		520			-
Cash used in financing activities		(257,689	)		-			(520	)		520			(257,689	)
Effect of exchange rate changes on cash and cash equivalents		-			-			(3,928	)		-			(3,928	)
Increase in cash and cash equivalents		232,328			-			29,808			-			262,136
Cash and cash equivalents, beginning of period		27,657			-			40,523			-			68,180
Cash and cash equivalents, end of period	$	259,985		$	-		$	70,331		$	-		$	330,316

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

(In thousands)
				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
Cash flows 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