v2.4.0.8

SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables) | 9 Months Ended
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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 |

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