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SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables) | 3 Months Ended
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Mar. 30, 2014
SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION [Abstract] |
Schedule of Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEETS March 30, 2014
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  |  | (In thousands)
Cash and cash equivalents |  | $ | 373,605 |  |  | $ | - |  | $ | 141,370 |  |  | $ | - |  |  | $ | 514,975
Investment in available-for-sale securities |  |  | 37,005 |  |  |  | - |  |  | - |  |  |  | - |  |  |  | 37,005
Trade accounts and other receivables, less allowance for |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
doubtful accounts |  |  | 328,375 |  |  |  | 1,409 |  |  | 43,825 |  |  |  | - |  |  |  | 373,609
Account receivable from JBS USA, LLC |  |  | 3,220 |  |  |  | - |  |  | - |  |  |  | - |  |  |  | 3,220
Inventories |  |  | 680,895 |  |  |  | 20,912 |  |  | 91,709 |  |  |  | - |  |  |  | 793,516
Income taxes receivable |  |  | 13,596 |  |  |  | - |  |  | 7,626 |  |  |  | (587 | ) |  |  | 20,635
Current deferred tax assets |  |  | - |  |  |  | 9,902 |  |  | 506 |  |  |  | (8,181 | ) |  |  | 2,227
Prepaid expenses and other current assets |  |  | 45,413 |  |  |  | 260 |  |  | 27,241 |  |  |  | - |  |  |  | 72,914
Assets held for sale |  |  | 5,849 |  |  |  | - |  |  | - |  |  |  | - |  |  |  | 5,849
Total current assets |  |  | 1,487,958 |  |  |  | 32,483 |  |  | 312,277 |  |  |  | (8,768 | ) |  |  | 1,823,950
Intercompany receivable |  |  | (86,466 | ) |  |  | 128,609 |  |  | 5 |  |  |  | (42,148 | ) |  |  | -
Investment in subsidiaries |  |  | 501,431 |  |  |  | - |  |  | - |  |  |  | (501,431 | ) |  |  | -
Deferred tax assets |  |  | 5,995 |  |  |  | - |  |  | 16,049 |  |  |  | (5,995 | ) |  |  | 16,049
Other long-lived assets |  |  | 33,472 |  |  |  | - |  |  | 180,423 |  |  |  | (180,000 | ) |  |  | 33,895
Identified intangible assets, net |  |  | 22,482 |  |  |  | - |  |  | 8,607 |  |  |  | - |  |  |  | 31,089
Property, plant and equipment, net |  |  | 1,023,140 |  |  |  | 45,038 |  |  | 102,024 |  |  |  | (4,768 | ) |  |  | 1,165,434
Total assets |  | $ | 2,988,012 |  |  | $ | 206,130 |  | $ | 619,385 |  |  | $ | (743,110 | ) |  | $ | 3,070,417
Current maturities of long-term debt |  | $ | 205,357 |  |  | $ | - |  | $ | - |  |  | $ | - |  |  | $ | 205,357
Accounts payable |  |  | 320,458 |  |  |  | 16,279 |  |  | 45,008 |  |  |  | - |  |  |  | 381,745
Account payable to JBS USA, LLC |  |  | 6,144 |  |  |  | - |  |  | - |  |  |  | - |  |  |  | 6,144
Accrued expenses and other current liabilities |  |  | 244,954 |  |  |  | 35,356 |  |  | (4,580 | ) |  |  | - |  |  |  | 275,730
Income taxes payable |  |  | - |  |  |  | - |  |  | 587 |  |  |  | (587 | ) |  |  | -
Current deferred tax liabilities |  |  | 7,190 |  |  |  | - |  |  | 15,495 |  |  |  | (7,190 | ) |  |  | 15,495
Total current liabilities |  |  | 784,103 |  |  |  | 51,635 |  |  | 56,510 |  |  |  | (7,777 | ) |  |  | 884,471
Long-term debt, less current maturities |  |  | 527,077 |  |  |  | - |  |  | - |  |  |  | (25,000 | ) |  |  | 502,077
Intercompany payable |  |  | - |  |  |  | - |  |  | 42,148 |  |  |  | (42,148 | ) |  |  | -
Deferred tax liabilities |  |  | 12,937 |  |  |  | 4,204 |  |  | 297 |  |  |  | (6,986 | ) |  |  | 10,452
Other long-term liabilities |  |  | 84,135 |  |  |  | - |  |  | 3,293 |  |  |  | - |  |  |  | 87,428
Total liabilities |  |  | 1,408,252 |  |  |  | 55,839 |  |  | 102,248 |  |  |  | (81,911 | ) |  |  | 1,484,428
Total Pilgrim's Pride Corporation stockholders' |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity |  |  | 1,579,760 |  |  |  | 150,291 |  |  | 514,283 |  |  |  | (661,199 | ) |  |  | 1,583,135
Noncontrolling interest |  |  | - |  |  |  | - |  |  | 2,854 |  |  |  | - |  |  |  | 2,854
Total stockholders' equity |  |  | 1,579,760 |  |  |  | 150,291 |  |  | 517,137 |  |  |  | (661,199 | ) |  |  | 1,585,989
Total liabilities and stockholders' equity |  | $ | 2,988,012 |  |  | $ | 206,130 |  | $ | 619,385 |  |  | $ | (743,110 | ) |  | $ | 3,070,417
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
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
Schedule of Condensed Consolidating Statements of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Thirteen Weeks Ended March 30, 2014
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands)
Net sales |  | $ | 1,753,068 |  |  | $ | 112,550 |  |  | $ | 257,995 |  |  | $ | (105,548 | ) |  | $ | 2,018,065 |
Cost of sales |  |  | 1,597,091 |  |  |  | 98,853 |  |  |  | 212,563 |  |  |  | (105,548 | ) |  |  | 1,802,959 |
Gross profit |  |  | 155,977 |  |  |  | 13,697 |  |  |  | 45,432 |  |  |  | - |  |  |  | 215,106 |
Selling, general and administrative expense |  |  | 38,575 |  |  |  | 1,238 |  |  |  | 5,388 |  |  |  | - |  |  |  | 45,201 |
Administrative restructuring charges |  |  | 1,713 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,713 |
Operating income |  |  | 115,689 |  |  |  | 12,459 |  |  |  | 40,044 |  |  |  | - |  |  |  | 168,192 |
Interest expense, net |  |  | 19,325 |  |  |  | (14 | ) |  |  | 162 |  |  |  | - |  |  |  | 19,473 |
Interest income |  |  | (162 | ) |  |  | - |  |  |  | (649 | ) |  |  | - |  |  |  | (811 | )
Foreign currency transaction losses |  |  | 3 |  |  |  | - |  |  |  | 334 |  |  |  | - |  |  |  | 337 |
Miscellaneous, net |  |  | (2,641 | ) |  |  | 1,645 |  |  |  | (78 | ) |  |  | 68 |  |  |  | (1,006 | )
Income before income taxes |  |  | 99,164 |  |  |  | 10,828 |  |  |  | 40,275 |  |  |  | (68 | ) |  |  | 150,199 |
Income tax expense (benefit) |  |  | 32,806 |  |  |  | 5,764 |  |  |  | 13,442 |  |  |  | - |  |  |  | 52,012 |
Income before equity in earnings of consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
subsidiaries |  |  | 66,358 |  |  |  | 5,064 |  |  |  | 26,833 |  |  |  | (68 | ) |  |  | 98,187 |
Equity in earnings of consolidated subsidiaries |  |  | 31,759 |  |  |  | - |  |  |  | - |  |  |  | (31,759 | ) |  |  | - |
Net income (loss) |  |  | 98,117 |  |  |  | 5,064 |  |  |  | 26,833 |  |  |  | (31,827 | ) |  |  | 98,187 |
Less: Net loss attributable to noncontrolling interest |  |  | - |  |  |  | - |  |  |  | 70 |  |  |  | - |  |  |  | 70 |
Net income (loss) attributable to Pilgrim's Pride |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporation |  | $ | 98,117 |  |  | $ | 5,064 |  |  | $ | 26,763 |  |  | $ | (31,827 | ) |  | $ | 98,117 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Thirteen Weeks Ended March 31, 2013
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands)
Net sales |  | $ | 1,769,794 |  |  | $ | 75,660 |  | $ | 259,199 |  |  | $ | (67,724 | ) |  | $ | 2,036,929 |
Cost of sales |  |  | 1,704,798 |  |  |  | 66,934 |  |  | 214,487 |  |  |  | (67,724 | ) |  |  | 1,918,495 |
Gross profit |  |  | 64,996 |  |  |  | 8,726 |  |  | 44,712 |  |  |  | - |  |  |  | 118,434 |
Selling, general and administrative expense |  |  | 37,484 |  |  |  | 1,008 |  |  | 5,500 |  |  |  | - |  |  |  | 43,992 |
Administrative restructuring charges |  |  | 484 |  |  |  | - |  |  | - |  |  |  | - |  |  |  | 484 |
Operating income |  |  | 27,028 |  |  |  | 7,718 |  |  | 39,212 |  |  |  | - |  |  |  | 73,958 |
Interest expense, net |  |  | 24,683 |  |  |  | - |  |  | 138 |  |  |  | - |  |  |  | 24,821 |
Interest income |  |  | (3 | ) |  |  | - |  |  | (213 | ) |  |  | - |  |  |  | (216 | )
Foreign currency transaction losses |  |  | (10 | ) |  |  | - |  |  | (7,614 | ) |  |  | - |  |  |  | (7,624 | )
Miscellaneous, net |  |  | (1,715 | ) |  |  | 1,221 |  |  | 530 |  |  |  | (41 | ) |  |  | (5 | )
Income before income taxes |  |  | 4,073 |  |  |  | 6,497 |  |  | 46,371 |  |  |  | 41 |  |  |  | 56,982 |
Income tax expense (benefit) |  |  | (5,871 | ) |  |  | 1,969 |  |  | 6,656 |  |  |  | - |  |  |  | 2,754 |
Income before equity in earnings of consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
subsidiaries |  |  | 9,944 |  |  |  | 4,528 |  |  | 39,715 |  |  |  | 41 |  |  |  | 54,228 |
Equity in earnings of consolidated subsidiaries |  |  | 44,638 |  |  |  | - |  |  | - |  |  |  | (44,638 | ) |  |  | - |
Net income (loss) |  |  | 54,582 |  |  |  | 4,528 |  |  | 39,715 |  |  |  | (44,597 | ) |  |  | 54,228 |
Less: Net loss attributable to noncontrolling interest |  |  | - |  |  |  | - |  |  | (354 | ) |  |  | - |  |  |  | (354 | )
Net income (loss) attributable to Pilgrim's Pride |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporation |  | $ | 54,582 |  |  | $ | 4,528 |  | $ | 40,069 |  |  | $ | (44,597 | ) |  | $ | 54,582 |
Schedule of Condensed Consolidating Statements of Comprehensive Income | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Thirteen Weeks Ended March 30, 2014
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands)
Net income (loss) |  |  | 98,117 |  |  |  | 5,064 |  |  | 26,833 |  |  | (31,827 | ) |  |  | 98,187 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss associated with available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
securities, net of tax |  |  | (36 | ) |  |  | - |  |  | - |  |  | - |  |  |  | (36 | )
Loss associated with pension and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
postretirement benefits, net of tax |  |  | (5,786 | ) |  |  | - |  |  | - |  |  | - |  |  |  | (5,786 | )
Total other comprehensive loss, net of tax |  |  | (5,822 | ) |  |  | - |  |  | - |  |  | - |  |  |  | (5,822 | )
Comprehensive income (loss) |  |  | 92,295 |  |  |  | 5,064 |  |  | 26,833 |  |  | (31,827 | ) |  |  | 92,365 |
Less: Comprehensive loss attributable to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
noncontrolling interests |  |  | - |  |  |  | - |  |  | 70 |  |  | - |  |  |  | 70 |
Comprehensive income (loss) attributable to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pilgrim's Pride Corporation |  | $ | 92,295 |  |  | $ | 5,064 |  | $ | 26,763 |  | $ | (31,827 | ) |  | $ | 92,295 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Thirteen Weeks Ended March 31, 2013
|  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands)
Net income (loss) |  | $ | 54,582 |  | $ | 4,528 |  | $ | 39,715 |  |  | $ | (44,597 | ) |  | $ | 54,228 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gains associated with pension and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
postretirement benefits, net of tax |  |  | 10,410 |  |  | - |  |  | - |  |  |  | - |  |  |  | 10,410 |
Total other comprehensive income, net of tax |  |  | 10,410 |  |  | - |  |  | - |  |  |  | - |  |  |  | 10,410 |
Comprehensive income (loss) |  |  | 64,992 |  |  | 4,528 |  |  | 39,715 |  |  |  | (44,597 | ) |  |  | 64,638 |
Less: Comprehensive loss attributable to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
noncontrolling interests |  |  | - |  |  | - |  |  | (354 | ) |  |  | - |  |  |  | (354 | )
Comprehensive income (loss) attributable to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pilgrim's Pride Corporation |  | $ | 64,992 |  | $ | 4,528 |  | $ | 40,069 |  |  | $ | (44,597 | ) |  | $ | 64,992 |
Schedule of Condensed Consolidating Statements of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Thirteen Weeks Ended March 30, 2014
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands) |
Cash flows provided (used in) by operating activities |  | $ | 147,553 |  |  | $ | 1,854 |  |  | $ | 46,362 |  |  | $ | (68 | ) |  | $ | 195,701 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions of property, plant and equipment |  |  | (43,177 | ) |  |  | (1,854 | ) |  |  | (2,729 | ) |  |  | - |  |  |  | (47,760 | )
Purchases of investment securities |  |  | (37,000 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (37,000 | )
Proceeds from sale or maturity of investment securities |  |  | 96,950 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 96,950 |
Proceeds from property sales and disposals |  |  | 1,100 |  |  |  | - |  |  |  | 411 |  |  |  | - |  |  |  | 1,511 |
Cash provided by (used in) investing activities |  |  | 17,873 |  |  |  | (1,854 | ) |  |  | (2,318 | ) |  |  | - |  |  |  | 13,701 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments on long-term debt |  |  | (204,913 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (204,913 | )
Other financing activities |  |  | - |  |  |  | - |  |  |  | (68 | ) |  |  | 68 |  |  |  | - |
Cash provided by (used in) financing activities |  |  | (204,913 | ) |  |  | - |  |  |  | (68 | ) |  |  | 68 |  |  |  | (204,913 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  |  | - |  |  |  | 2,280 |  |  |  | - |  |  |  | 2,280 |
Increase (decrease) in cash and cash equivalents |  |  | (39,487 | ) |  |  | - |  |  |  | 46,256 |  |  |  | - |  |  |  | 6,769 |
Cash and cash equivalents, beginning of period |  |  | 413,092 |  |  |  | - |  |  |  | 95,114 |  |  |  | - |  |  |  | 508,206 |
Cash and cash equivalents, end of period |  | $ | 373,605 |  |  | $ | - |  |  | $ | 141,370 |  |  | $ | - |  |  | $ | 514,975 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Thirteen Weeks Ended March 31, 2013
|  |  |  |  |  | Subsidiary |  | Subsidiary |  | Eliminations/ |  |  |  |
|  | Parent |  | Guarantor |  | Non-Guarantors |  | Adjustments |  | Consolidation
|  | (In thousands)
Cash flows provided (used in) by operating activities |  | $ | 30,076 |  |  | $ | 1,445 |  |  | $ | (10,923 | ) |  | $ | 41 |  |  | $ | 20,639 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions of property, plant and equipment |  |  | (21,547 | ) |  |  | (1,445 | ) |  |  | (2,786 | ) |  |  | - |  |  |  | (25,778 | )
Proceeds from property sales and disposals |  |  | 1,054 |  |  |  | - |  |  |  | 606 |  |  |  | - |  |  |  | 1,660 |
Cash used in investing activities |  |  | (20,493 | ) |  |  | (1,445 | ) |  |  | (2,180 | ) |  |  | - |  |  |  | (24,118 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt |  |  | 288,500 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 288,500 |
Payments on long-term debt |  |  | (311,005 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (311,005 | )
Other financing activities |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | (41 | ) |  |  | - |
Cash provided by (used in) financing activities |  |  | (22,505 | ) |  |  | - |  |  |  | 41 |  |  |  | (41 | ) |  |  | (22,505 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  |  | - |  |  |  | 1,364 |  |  |  | - |  |  |  | 1,364 |
Increase (decrease) in cash and cash equivalents |  |  | (12,922 | ) |  |  | - |  |  |  | (11,698 | ) |  |  | - |  |  |  | (24,620 | )
Cash and cash equivalents, beginning of period |  |  | 27,657 |  |  |  | - |  |  |  | 40,523 |  |  |  | - |  |  |  | 68,180 |
Cash and cash equivalents, end of period |  | $ | 14,735 |  |  | $ | - |  |  | $ | 28,825 |  |  | $ | - |  |  | $ | 43,560 |

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