XML 60 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 30, 2014
Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF INCOME [Abstract]    
Net sales $ 2,018,065 $ 2,036,929
Cost of sales 1,802,959 1,918,495
Gross profit 215,106 118,434
Selling, general and administrative expense 45,201 43,992
Administrative restructuring charges 1,713 484
Operating income 168,192 73,958
Interest expense, net of capitalized interest 19,473 24,821
Interest income (811) (216)
Foreign currency transaction loss (gain) 337 (7,624)
Miscellaneous, net (1,006) (5)
Income before income taxes 150,199 56,982
Income tax expense 52,012 2,754
Net income 98,187 54,228
Less: Net income (loss) attributable to noncontrolling interests 70 (354)
Net income attributable to Pilgrim's Pride Corporation $ 98,117 $ 54,582
Weighted average shares of common stock outstanding:    
Basic 258,923 258,823
Effect of dilutive common stock equivalents 523 130
Diluted 259,446 258,953
Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding:    
Basic $ 0.38 $ 0.21
Diluted $ 0.38 $ 0.21