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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 27, 2015
Dec. 28, 2014
Dec. 29, 2013
Cash flows from operating activities:      
Net income $ 645,962 $ 711,438 $ 549,713
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 158,975 155,824 150,523
Asset impairment 4,813 0 4,004
Foreign currency transaction losses 0 38,129 3,382
Accretion of bond discount 0 2,243 456
Loss (gain) on property disposals (10,372) (1,407) 2,395
Share-based compensation 2,975 4,928 3,345
Deferred income tax expense (benefit) 29,512 78,943 (4,999)
Changes in operating assets and liabilities:      
Trade accounts and other receivables 61,294 (9,526) 7,235
Inventories 57,078 10,638 142,675
Prepaid expenses and other current assets 19,840 (38,010) (6,070)
Accounts payable and accrued expenses 61,882 44,833 49,625
Income taxes (55,428) 74,705 (21,546)
Deposits 0 0 1,877
Long-term pension and other postretirement obligations (3,500) (5,784) (6,837)
Other 3,797 (262) 2,755
Cash provided by operating activities 976,828 1,066,692 878,533
Cash flows from investing activities:      
Acquisitions of property, plant and equipment (175,764) (171,443) (116,223)
Purchase of acquired business, net of cash acquired (373,532) 0 0
Purchases of investment securities 0 (55,100) (96,902)
Proceeds from sale or maturity of investment securities 0 152,050 0
Proceeds from property disposals 14,610 11,108 31,337
Cash used in investing activities (534,686) (63,385) (181,788)
Cash flows from financing activities:      
Proceeds from notes payable to banks 28,726 0 0
Proceeds from long-term debt 1,680,000 0 505,600
Payments on long-term debt (683,780) (910,234) (758,578)
Proceeds from sale of subsidiary common stock 0 332 0
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim's Pride Corporation 0 3,849 0
Tax benefit related to share-based compensation 6,474 458 7,771
Payment of capitalized loan costs (12,364) 0 (5,007)
Purchase of treasury stock (99,233) 0 0
Payment of special cash dividend (1,498,470) 0 0
Cash used in financing activities (578,647) (905,595) (250,214)
Effect of exchange rate changes on cash and cash equivalents 0 (29,775) (6,505)
Increase (decrease) in cash and cash equivalents (136,505) 67,937 440,026
Cash and cash equivalents, beginning of period 576,143 508,206 68,180
Cash and cash equivalents, end of period 439,638 576,143 508,206
Supplemental Disclosure Information:      
Interest paid (net of amount capitalized) 24,210 71,558 80,320
Income taxes paid $ 360,347 $ 257,152 $ 30,057