20.SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION

On December 15, 2010, the Company closed on the sale of the 2018 Notes. The 2018 Notes are unsecured obligations of the Company and are fully and unconditionally guaranteed on a senior unsecured basis by Pilgrim's Pride Corporation of West Virginia, Inc., a 100% owned subsidiary of the Company (the "Guarantor"). In accordance with Rule 3-10 of Regulation S-X promulgated under the Securities Act of 1933, the following condensed consolidating financial statements present the financial position, results of operations and cash flows of the Company (referred to as "Parent" for the purpose of this note only) on a Parent-only basis, the Guarantor on a Guarantor-only basis, the combined non-Guarantor subsidiaries and elimination entries necessary to arrive at the information for the Parent, the Guarantor and non-Guarantor subsidiaries on a consolidated basis. Investments in subsidiaries are accounted for by the Company using the equity method for this presentation.

The tables below present the condensed consolidating balance sheets as of December 29, 2013 and December 30, 2012 as well as the condensed consolidating statements of operations, condensed consolidating statements of comprehensive income (loss) and condensed consolidated statements of cash flows for the years ended 2013, 2012 and 2011 based on the guarantor structure.

CONDENSED CONSOLIDATING BALANCE SHEETS
December 29, 2013

				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Cash and cash equivalents	$	413,092		$	-	$	95,114		$	-		$	508,206
Restricted cash and cash equivalents		-			-		-			-			-
Investment in available-for-sale securities		96,902			-		-			-			96,902
Trade accounts and other receivables, less
allowance for doubtful accounts		327,367			1,380		47,931			-			376,678
Account receivable from JBS USA, LLC		2,388			-		-			-			2,388
Inventories		696,604			20,215		92,013			-			808,832
Income taxes receivable		52,662			-		12,793			(587	)		64,868
Current deferred tax assets		3,213			5,698		506			(7,190	)		2,227
Prepaid expenses and other current assets		34,881			270		26,697			-			61,848
Assets held for sale		6,798			-		235			-			7,033
Total current assets		1,633,907			27,563		275,289			(7,777	)		1,928,982
Intercompany receivable		(64,772	)		114,707		-			(49,935	)		-
Investment in subsidiaries		472,431			-		-			(472,431	)		-
Deferred tax assets		5,995			-		18,924			(5,998	)		18,921
Other long-lived assets		37,282			-		182,881			(180,000	)		40,163
Identified intangible assets, net		23,463			-		9,062			-			32,525
Property, plant and equipment, net		1,009,711			44,643		102,221			(4,764	)		1,151,811
Total assets	$	3,118,017		$	186,913	$	588,377		$	(720,905	)	$	3,172,402
Current maturities of long-term debt	$	410,234		$	-	$	-		$	-		$	410,234
Accounts payable		308,154			12,711		49,495			-			370,360
Account payable to JBS USA, LLC		3,934			-		-			-			3,934
Accrued expenses and other current liabilities		269,062			33,821		(19,528	)		-			283,355
Income taxes payable		-			-		587			(587	)		-
Current deferred tax liabilities		7,190			-		15,515			(7,190	)		15,515
Total current liabilities		998,574			46,532		46,069			(7,777	)		1,083,398
Long-term debt, less current maturities		526,999			-		-			(25,000	)		501,999
Intercompany payable		-			-		49,935			(49,935	)		-
Deferred tax liabilities		13,944			5,698		297			(5,995	)		13,944
Other long-term liabilities		77,228			-		3,231			-			80,459
Total liabilities		1,616,745			52,230		99,532			(88,707	)		1,679,800
Total Pilgrim's Pride Corporation stockholders'
equity		1,501,272			134,683		486,061			(632,198	)		1,489,818
Noncontrolling interest		-			-		2,784			-			2,784
Total stockholders' equity		1,501,272			134,683		488,845			(632,198	)		1,492,602
Total liabilities and stockholders' equity	$	3,118,017		$	186,913	$	588,377		$	(720,905	)	$	3,172,402

CONDENSED CONSOLIDATING BALANCE SHEETS
December 30, 2012

			Subsidiary		Subsidiary		Eliminations/
	Parent		Guarantor		Non-Guarantors		Adjustments			Consolidation
	(In thousands)
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
Current maturities of long-term debt	$	15,886	$	-	$	-	$	-		$	15,886
Accounts payable		255,517		4,270		52,578		-			312,365
Account 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
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
Note payable to JBS USA Holdings, Inc.		-		-		-		-			-
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

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Fifty-Two Weeks Ended December 29, 2013

				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Net sales	$	7,333,150		$	521,973	$	1,047,102		$	(491,077	)	$	8,411,148
Cost of sales		6,678,655			468,809		908,442			(490,197	)		7,565,709
Gross profit		654,495			53,164		138,660			(880	)		845,439
Selling, general and administrative expense		152,816			4,215		23,884			-			180,915
Administrative restructuring charges, net		5,129			-		532			-			5,661
Operating income		496,550			48,949		114,244			(880	)		658,863
Interest expense		86,368			-		638			-			87,006
Interest income		(64	)		-		(2,061	)		-			(2,125	)
Foreign currency transaction losses (gains)		(2	)		-		4,417			-			4,415
Miscellaneous, net		(11,633	)		5,351		1,542			367			(4,373	)
Income (loss) from continuing operations
before income taxes		421,881			43,598		109,708			(1,247	)		573,940
Income tax expense (benefit)		(5,461	)		5,764		23,924			-			24,227
Income (loss) before equity in earnings of
consolidated subsidiaries		427,342			37,834		85,784			(1,247	)		549,713
Equity in earnings of consolidated subsidiaries		122,213			-		-			(122,213	)		-
Net income (loss)		549,555			37,834		85,784			(123,460	)		549,713
Less: Net loss attributable to noncontrolling
interest		-			-		158			-			158
Net income (loss) attributable to
Pilgrim's Pride	$	549,555		$	37,834	$	85,626		$	(123,460	)	$	549,555

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Fifty-Three Weeks Ended December 30, 2012

				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Net sales	$	6,836,012		$	537,198		$	992,501		$	(244,329	)	$	8,121,382
Cost of sales		6,530,925			511,800			887,154			(244,329	)		7,685,550
Gross profit		305,087			25,398			105,347			-			435,832
Selling, general and administrative expense		156,535			-			20,506			-			177,041
Administrative restructuring charges, net		9,743			-			(1,294	)		-			8,449
Operating income		138,809			25,398			86,135			-			250,342
Interest expense		104,652			-			274			-			104,926
Interest income		(295	)		-			(1,102	)		-			(1,397	)
Foreign currency transaction losses (gains)		95			-			(4,905	)		-			(4,810	)
Miscellaneous, net		(2,131	)		(14	)		22			684			(1,439	)
Income (loss) from continuing operations
before income taxes		36,488			25,412			91,846			(684	)		153,062
Income tax expense (benefit)		(38,852	)		9,593			8,279			-			(20,980	)
Income (loss) before equity in earnings of
consolidated subsidiaries		75,340			15,819			83,567			(684	)		174,042
Equity in earnings of consolidated subsidiaries		98,894			-			-			(98,894	)		-
Net income (loss)		174,234			15,819			83,567			(99,578	)		174,042
Less: Net loss attributable to noncontrolling
interest		-			-			(192	)		-			(192	)
Net income (loss) attributable to
Pilgrim's Pride	$	174,234		$	15,819		$	83,759		$	(99,578	)	$	174,234

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Fifty-Two Weeks Ended December 25, 2011

				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Net sales	$	6,135,319		$	458,932	$	1,225,128		$	(283,681	)	$	7,535,698
Cost of sales		6,237,535			430,343		1,291,080			(283,681	)		7,675,277
Operational restructuring charges, net		1,958			-		-			-			1,958
Gross profit (loss)		(104,174	)		28,589		(65,952	)		-			(141,537	)
Selling, general and administrative expense		174,694			-		30,449			-			205,143
Administrative restructuring charges, net		19,824			-		7,087			-			26,911
Operating income (loss)		(298,692	)		28,589		(103,488	)		-			(373,591	)
Interest expense		110,940			-		592			-			111,532
Interest income		(363	)		-		(1,102	)		-			(1,465	)
Foreign currency transaction losses (gains)		(31	)		-		12,632			-			12,601
Miscellaneous, net		59,661			3,818		(98,360	)		25,748			(9,133	)
Income (loss) from continuing operations
before income taxes		(468,899	)		24,771		(17,250	)		(25,748	)		(487,126	)
Income tax expense (benefit)		(14,139	)		9,351		13,352			-			8,564
Income (loss) before equity in earnings of
consolidated subsidiaries		(454,760	)		15,420		(30,602	)		(25,748	)		(495,690	)
Equity in earnings of consolidated subsidiaries		(9,334	)		-		-			9,334			-
Net income (loss)		(464,094	)		15,420		(30,602	)		(16,414	)		(495,690	)
Less: Net income attributable to noncontrolling
interest		-			-		1,082			-			1,082
Net income (loss) attributable to
Pilgrim's Pride	$	(464,094	)	$	15,420	$	(31,684	)	$	(16,414	)	$	(496,772	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Fifty-Two Weeks Ended December 29, 2013

			Subsidiary		Subsidiary		Eliminations/
	Parent		Guarantor		Non-Guarantors		Adjustments			Consolidation
	(In thousands)
Net income (loss)	$	549,555	$	37,834	$	85,784	$	(123,460	)	$	549,713
Other comprehensive income (loss):
Unrealized holding losses on available-
for-sale securities, net of tax		62		-		-		-			62
Losses associated with pension and
other postretirement benefits, net of tax		22,714		-		-		-			22,714
Total other comprehensive loss, net of tax		22,776		-		-		-			22,776
Comprehensive income (loss)		572,331		37,834		85,784		(123,460	)		572,489
Less: Comprehensive income attributable to
noncontrolling interests		-		-		158		-			158
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	572,331	$	37,834	$	85,626	$	(123,460	)	$	572,331

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Fifty-Three Weeks Ended December 30, 2012


				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Net income (loss)	$	174,234		$	15,819	$	83,567		$	(99,578	)	$	174,042
Other comprehensive income (loss):
Unrealized holding gains on available-
for-sale securities, net of tax		-			-		(12	)		-			(12	)
Losses associated with pension and
other postretirement benefits, net of tax		(22,429	)		-		-			-			(22,429	)
Total other comprehensive income (loss),
net of tax		(22,429	)		-		(12	)		-			(22,441	)
Comprehensive income (loss)		151,805			15,819		83,555			(99,578	)		151,601
Less: Comprehensive income attributable to
noncontrolling interests		-			-		(192	)		-			(192	)
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	151,805		$	15,819	$	83,747		$	(99,578	)	$	151,793

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Fifty-Two Weeks Ended December 25, 2011

				Subsidiary		Subsidiary			Eliminations/
	Parent			Guarantor		Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Net income (loss)	$	(464,094	)	$	15,420	$	(30,602	)	$	(16,414	)	$	(495,690	)
Other comprehensive income (loss):
Unrealized holding losses on available-
for-sale securities, net of tax		-			-		(1,160	)		-			(1,160	)
Loss associated with pension and
other postretirement benefits, net of tax		(21,273	)		-		-			-			(21,273	)
Total other comprehensive income (loss),
net of tax		(21,273	)		-		(1,160	)		-			(22,433	)
Comprehensive income (loss)		(485,367	)		15,420		(31,762	)		(16,414	)		(518,123	)
Less: Comprehensive income attributable to
noncontrolling interests		-			-		1,082			-			1,082
Comprehensive income (loss) attributable to
Pilgrim's Pride Corporation	$	(485,367	)	$	15,420	$	(32,844	)	$	(16,414	)	$	(519,205	)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Fifty-Two Weeks Ended December 29, 2013

				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Cash provided by (used in) operating activities	$	819,071		$	4,852		$	54,977		$	(367	)	$	878,533

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(99,562	)		(4,857	)		(11,804	)		-			(116,223	)
Purchases of investment securities		(96,902	)		-			-			-			(96,902	)
Proceeds from property sales and disposals		13,042			5			18,290			-			31,337
Cash used in investing activities		(183,422	)		(4,852	)		6,486			-			(181,788	)

Cash flows from financing activities:
Proceeds from long-term debt		505,600			-			-			-			505,600
Payments on long-term debt		(758,578	)		-			-			-			(758,578	)
Payment of capitalized loan costs		(5,006	)		-			-			-			(5,006	)
Tax benefit related to share-based
compensation		7,770			-			-			-			7,770
Other financing activities		-			-			(367	)		367			-
Cash provided by (used in) financing
activities		(250,214	)		-			(367	)		367			(250,214	)
Effect of exchange rate changes on cash and cash
equivalents		-			-			(6,505	)					(6,505	)
Increase (decrease) in cash and cash equivalents		385,435			-			54,591			-			440,026
Cash and cash equivalents, beginning of period		27,657			-			40,523			-			68,180
Cash and cash equivalents, end of period	$	413,092		$	-		$	95,114		$	-		$	508,206

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Fifty-Three Weeks Ended December 30, 2012

				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Cash provided by (used in) operating activities	$	174,046		$	2,178		$	23,653		$	(253	)	$	199,624

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(75,985	)		(2,208	)		(12,134	)		-			(90,327	)
Purchases of investment securities		(73	)		-			(89	)		-			(162	)
Proceeds from sale or maturity of investment
securities		57			-			631			-			688
Proceeds from property sales and disposals		26,911			-			2,489			-			29,400
Cash used in investing activities		(49,090	)		(2,208	)		(9,103	)		-			(60,401	)

Cash flows from financing activities:
Proceeds from note payable to JBS USA		(50,000	)		-			-			-			(50,000	)
Proceeds from long-term debt		851,400			-			-			-			851,400
Payments on long-term debt		(1,110,711	)		-			-			-			(1,110,711	)
Proceeds from sale of common stock		198,282			-			-			-			198,282
Other financing activities		-			-			(253	)		253			-
Cash provided by (used in) financing
activities		(111,029	)		-			(253	)		253			(111,029	)
Effect of exchange rate changes on cash and cash
equivalents		-			-			(1,623	)		-			(1,623	)
Increase (decrease) in cash and cash equivalents		13,927			(30	)		12,674			-			26,571
Cash and cash equivalents, beginning of period		13,733			30			27,846			-			41,609
Cash and cash equivalents, end of period	$	27,660		$	-		$	40,520		$	-		$	68,180

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Fifty-Two Weeks Ended December 25, 2011

				Subsidiary			Subsidiary			Eliminations/
	Parent			Guarantor			Non-Guarantors			Adjustments			Consolidation
	(In thousands)
Cash provided by (used in) operating activities	$	(91,621	)	$	8,973		$	(19,385	)	$	(26,958	)	$	(128,991	)

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(115,791	)		(9,108	)		(11,069	)		-			(135,968	)
Purchases of investment securities		-			-			(4,596	)		-			(4,596	)
Proceeds from sale or maturity of investment
securities		-			-			15,852			-			15,852
Proceeds from business dispositions to Swift
Pork Company		-			-			13,000			-			13,000
Proceeds from business dispositions to JBS
Trading International, Inc.		-			-			24,479			-			24,479
Proceeds from property sales and disposals		26,503			165			2,376			-			29,044
Cash provided by (used in) investing
activities		(89,288	)		(8,943	)		40,042			-			(58,189	)

Cash flows from financing activities:
Proceeds from note payable to JBS USA		50,000			-			-			-			50,000
Proceeds from long-term debt		965,689			-			-			-			965,689
Payments on long-term debt		(881,833	)		-			-			-			(881,833	)
Purchase of remaining interest in subsidiary		(2,504	)		-			-			-			(2,504	)
Payment of capitalized loan costs		(4,395	)		-			-			-			(4,395	)
Cash dividends paid		-			-			(25,000	)		25,000			-
Other financing activities		-			-			(2,065	)		1,958			(107	)
Cash provided by (used in) financing
activities		126,957			-			(27,065	)		26,958			126,850
Effect of exchange rate changes on cash and cash
equivalents		-			-			(4,138	)		-			(4,138	)
Increase (decrease) in cash and cash equivalents		(53,952	)		30			(10,546	)		-			(64,468	)
Cash and cash equivalents, beginning of period		67,685			-			38,392			-			106,077
Cash and cash equivalents, end of period	$	13,733		$	30		$	27,846		$	-		$	41,609