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SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION (Tables) | 9 Months Ended
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Sep. 28, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of Condensed Consolidating Balance Sheet |
CONDENSED CONSOLIDATING BALANCE SHEETS September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Cash and cash equivalents |  | $ | 604,990 |  |  | $ | — |  |  | $ | 263,607 |  |  | $ | — |  |  | $ | 868,597 |
Trade accounts and other receivables, less allowance for doubtful accounts |  | 367,848 |  |  | 1,419 |  |  | 44,135 |  |  | — |  |  | 413,402 |
Account receivable from JBS USA, LLC |  | 240 |  |  | — |  |  | — |  |  | — |  |  | 240 |
Inventories |  | 696,989 |  |  | 20,639 |  |  | 100,264 |  |  | — |  |  | 817,892 |
Income taxes receivable |  | 588 |  |  | — |  |  | — |  |  | (588 | ) |  | — |
Current deferred tax assets |  | — |  |  | 9,902 |  |  | 506 |  |  | (8,181 | ) |  | 2,227 |
Prepaid expenses and other current assets |  | 38,519 |  |  | 208 |  |  | 38,666 |  |  | — |  |  | 77,393 |
Assets held for sale |  | 1,419 |  |  | — |  |  | — |  |  | — |  |  | 1,419 |
Total current assets |  | 1,710,593 |  |  | 32,168 |  |  | 447,178 |  |  | (8,769 | ) |  | 2,181,170 |
Intercompany receivable |  | (66,101 | ) |  | 123,514 |  |  | — |  |  | (57,413 | ) |  | — |
Investment in subsidiaries |  | 669,742 |  |  | — |  |  | — |  |  | (669,742 | ) |  | — |
Deferred tax assets |  | 75,260 |  |  | — |  |  | 13,466 |  |  | (3,513 | ) |  | 85,213 |
Other long-lived assets |  | 29,741 |  |  | — |  |  | 181,025 |  |  | (180,000 | ) |  | 30,766 |
Identified intangible assets, net |  | 20,521 |  |  | — |  |  | 7,698 |  |  | — |  |  | 28,219 |
Property, plant and equipment, net |  | 1,029,532 |  |  | 45,682 |  |  | 109,966 |  |  | (4,766 | ) |  | 1,180,414 |
Total assets |  | $ | 3,469,288 |  |  | $ | 201,364 |  |  | $ | 759,333 |  |  | $ | (924,203 | ) |  | $ | 3,505,782 |
Accounts payable |  | 318,106 |  |  | 17,501 |  |  | 48,172 |  |  | — |  |  | 383,779 |
Account payable to JBS USA, LLC |  | 1,969 |  |  | — |  |  | — |  |  | — |  |  | 1,969 |
Accrued expenses and other current liabilities |  | 246,759 |  |  | 37,318 |  |  | 23,076 |  |  | — |  |  | 307,153 |
Income taxes payable |  | 151,714 |  |  | — |  |  | 25,027 |  |  | (588 | ) |  | 176,153 |
Current deferred tax liabilities |  | 7,189 |  |  | — |  |  | 15,070 |  |  | (7,189 | ) |  | 15,070 |
Current maturities of long-term debt |  | 260 |  |  | — |  |  | — |  |  | — |  |  | 260 |
Total current liabilities |  | 725,997 |  |  | 54,819 |  |  | 111,345 |  |  | (7,777 | ) |  | 884,384 |
Long-term debt, less current maturities |  | 527,115 |  |  | — |  |  | — |  |  | (25,000 | ) |  | 502,115 |
Intercompany payable |  | — |  |  | 3,561 |  |  | 53,852 |  |  | (57,413 | ) |  | — |
Deferred tax liabilities |  | — |  |  | 4,204 |  |  | 301 |  |  | (4,505 | ) |  | — |
Other long-term liabilities |  | 85,140 |  |  | — |  |  | 3,350 |  |  | — |  |  | 88,490 |
Total liabilities |  | 1,338,252 |  |  | 62,584 |  |  | 168,848 |  |  | (94,695 | ) |  | 1,474,989 |
Total Pilgrim’s Pride Corporation stockholders’ equity |  | 2,131,036 |  |  | 138,780 |  |  | 587,395 |  |  | (829,508 | ) |  | 2,027,703 |
Noncontrolling interest |  | — |  |  | — |  |  | 3,090 |  |  | — |  |  | 3,090 |
Total stockholders’ equity |  | 2,131,036 |  |  | 138,780 |  |  | 590,485 |  |  | (829,508 | ) |  | 2,030,793 |
Total liabilities and stockholders’ equity |  | $ | 3,469,288 |  |  | $ | 201,364 |  |  | $ | 759,333 |  |  | $ | (924,203 | ) |  | $ | 3,505,782 |
CONDENSED CONSOLIDATING BALANCE SHEETS December 29, 2013
| Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ 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 September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Net sales |  | $ | 1,844,929 |  |  | $ | 121,540 |  |  | $ | 276,394 |  |  | $ | 25,185 |  |  | $ | 2,268,048 |
Cost of sales |  | 1,453,490 |  |  | 124,940 |  |  | 214,168 |  |  | 25,185 |  |  | 1,817,783 |
Gross profit (loss) |  | 391,439 |  |  | (3,400 | ) |  | 62,226 |  |  | — |  |  | 450,265 |
Selling, general and administrative expense |  | 38,184 |  |  | 1,112 |  |  | 5,333 |  |  | — |  |  | 44,629 |
Administrative restructuring charges |  | 135 |  |  | — |  |  | — |  |  | — |  |  | 135 |
Operating income (loss) |  | 353,120 |  |  | (4,512 | ) |  | 56,893 |  |  | — |  |  | 405,501 |
Interest expense, net |  | 11,315 |  |  | (48 | ) |  | 105 |  |  | — |  |  | 11,372 |
Interest income |  | (215 | ) |  | — |  |  | (956 | ) |  | — |  |  | (1,171 | )
Foreign currency transaction loss |  | — |  |  | — |  |  | 6,414 |  |  | — |  |  | 6,414 |
Miscellaneous, net |  | (1,815 | ) |  | 1,447 |  |  | (323 | ) |  | 81 |  |  | (610 | )
Income (loss) before income taxes |  | 343,835 |  |  | (5,911 | ) |  | 51,653 |  |  | (81 | ) |  | 389,496 |
Income tax expense (benefit) |  | 118,146 |  |  | (2,245 | ) |  | 17,792 |  |  | — |  |  | 133,693 |
Income (loss) before equity in earnings of consolidated subsidiaries |  | 225,689 |  |  | (3,666 | ) |  | 33,861 |  |  | (81 | ) |  | 255,803 |
Equity in earnings of consolidated subsidiaries |  | 30,295 |  |  | — |  |  | — |  |  | (30,295 | ) |  | — |
Net income (loss) |  | 255,984 |  |  | (3,666 | ) |  | 33,861 |  |  | (30,376 | ) |  | 255,803 |
Less: Net loss attributable to noncontrolling interest |  | — |  |  | — |  |  | (181 | ) |  | — |  |  | (181 | )
Net income (loss) attributable to Pilgrim’s Pride Corporation |  | $ | 255,984 |  |  | $ | (3,666 | ) |  | $ | 34,042 |  |  | $ | (30,376 | ) |  | $ | 255,984 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Thirteen Weeks Ended September 29, 2013
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
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 loss (gain) |  | (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 Thirty-Nine Weeks Ended September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Net sales |  | $ | 5,491,934 |  |  | $ | 362,390 |  |  | $ | 819,354 |  |  | $ | (200,749 | ) |  | $ | 6,472,929 |
Cost of sales |  | 4,660,153 |  |  | 344,707 |  |  | 653,972 |  |  | (200,749 | ) |  | 5,458,083 |
Gross profit |  | 831,781 |  |  | 17,683 |  |  | 165,382 |  |  | — |  |  | 1,014,846 |
Selling, general and administrative expense |  | 119,268 |  |  | 3,491 |  |  | 15,678 |  |  | — |  |  | 138,437 |
Administrative restructuring charges |  | 2,286 |  |  | — |  |  | — |  |  | — |  |  | 2,286 |
Operating income |  | 710,227 |  |  | 14,192 |  |  | 149,704 |  |  | — |  |  | 874,123 |
Interest expense, net |  | 45,114 |  |  | (109 | ) |  | 402 |  |  | — |  |  | 45,407 |
Interest income |  | (522 | ) |  | — |  |  | (2,452 | ) |  | — |  |  | (2,974 | )
Foreign currency transaction loss |  | 2 |  |  | — |  |  | 4,930 |  |  | — |  |  | 4,932 |
Miscellaneous, net |  | (7,090 | ) |  | 5,034 |  |  | (766 | ) |  | 213 |  |  | (2,609 | )
Income before income taxes |  | 672,723 |  |  | 9,267 |  |  | 147,590 |  |  | (213 | ) |  | 829,367 |
Income tax expense |  | 233,478 |  |  | 5,171 |  |  | 46,283 |  |  | — |  |  | 284,932 |
Income before equity in earnings of consolidated subsidiaries |  | 439,245 |  |  | 4,096 |  |  | 101,307 |  |  | (213 | ) |  | 544,435 |
Equity in earnings of consolidated subsidiaries |  | 105,216 |  |  | — |  |  | — |  |  | (105,216 | ) |  | — |
Net income |  | 544,461 |  |  | 4,096 |  |  | 101,307 |  |  | (105,429 | ) |  | 544,435 |
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | (26 | ) |  | — |  |  | (26 | )
Net income attributable to Pilgrim’s Pride Corporation |  | $ | 544,461 |  |  | $ | 4,096 |  |  | $ | 101,333 |  |  | $ | (105,429 | ) |  | $ | 544,461 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Thirty-Nine Weeks Ended September 29, 2013
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
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 loss (gain) |  | (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 |
Schedule of Condensed Consolidating Statements of Comprehensive Income |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Thirteen Weeks Ended September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Net income (loss) |  | $ | 255,984 |  |  | $ | (3,666 | ) |  | $ | 33,861 |  |  | $ | (30,376 | ) |  | $ | 255,803 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |
Gain associated with available-for-sale securities, net of tax |  | 17 |  |  | — |  |  | — |  |  | — |  |  | 17 |
Loss associated with pension and other postretirement benefits, net of tax |  | (653 | ) |  | — |  |  | — |  |  | — |  |  | (653 | )
Total other comprehensive loss, net of tax |  | (636 | ) |  | — |  |  | — |  |  | — |  |  | (636 | )
Comprehensive income (loss) |  | 255,348 |  |  | (3,666 | ) |  | 33,861 |  |  | (30,376 | ) |  | 255,167 |
Less: Comprehensive loss attributable to noncontrolling interests |  | — |  |  | — |  |  | (181 | ) |  | — |  |  | (181 | )
Comprehensive income (loss) attributable to Pilgrim's Pride Corporation |  | $ | 255,348 |  |  | $ | (3,666 | ) |  | $ | 34,042 |  |  | $ | (30,376 | ) |  | $ | 255,348 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Thirteen Weeks Ended September 29, 2013
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
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 Thirty-Nine Weeks Ended September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Net income |  | $ | 544,461 |  |  | $ | 4,096 |  |  | $ | 101,307 |  |  | $ | (105,429 | ) |  | $ | 544,435 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |
Loss associated with available-for-sale securities, net of tax |  | (12 | ) |  | — |  |  | — |  |  | — |  |  | (12 | )
Loss associated with pension and other postretirement benefits, net of tax |  | (10,068 | ) |  | — |  |  | — |  |  | — |  |  | (10,068 | )
Total other comprehensive loss, net of tax |  | (10,080 | ) |  | — |  |  | — |  |  | — |  |  | (10,080 | )
Comprehensive income |  | 534,381 |  |  | 4,096 |  |  | 101,307 |  |  | (105,429 | ) |  | 534,355 |
Less: Comprehensive income attributable to noncontrolling interests |  | — |  |  | — |  |  | (26 | ) |  | — |  |  | (26 | )
Comprehensive income attributable to Pilgrim's Pride Corporation |  | $ | 534,381 |  |  | $ | 4,096 |  |  | $ | 101,333 |  |  | $ | (105,429 | ) |  | $ | 534,381 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Thirty-Nine Weeks Ended September 29, 2013
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
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 |
Schedule of Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Thirty-Nine Weeks Ended September 28, 2014
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Cash provided by operating activities |  | $ | 608,674 |  |  | $ | 5,441 |  |  | $ | 188,506 |  |  | $ | (213 | ) |  | $ | 802,408 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Acquisitions of property, plant and equipment |  | (109,071 | ) |  | (5,448 | ) |  | (16,830 | ) |  | — |  |  | (131,349 | )
Purchases of investment securities |  | (55,100 | ) |  | — |  |  | — |  |  | — |  |  | (55,100 | )
Proceeds from sale or maturity of investment securities |  | 152,050 |  |  | — |  |  | — |  |  | — |  |  | 152,050 |
Proceeds from property sales and disposals |  | 5,544 |  |  | 7 |  |  | 2,871 |  |  | — |  |  | 8,422 |
Cash used in investing activities |  | (6,577 | ) |  | (5,441 | ) |  | (13,959 | ) |  | — |  |  | (25,977 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Payments on long-term debt |  | (410,199 | ) |  | — |  |  | — |  |  | — |  |  | (410,199 | )
Proceeds from sale of subsidiary common stock |  | — |  |  | — |  |  | 332 |  |  | — |  |  | 332 |
Other financing activities |  | — |  |  | — |  |  | (213 | ) |  | 213 |  |  | — |
Cash provided by (used in) financing activities |  | (410,199 | ) |  | — |  |  | 119 |  |  | 213 |  |  | (409,867 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  | — |  |  | (6,173 | ) |  | — |  |  | (6,173 | )
Increase in cash and cash equivalents |  | 191,898 |  |  | — |  |  | 168,493 |  |  | — |  |  | 360,391 |
Cash and cash equivalents, beginning of period |  | 413,092 |  |  | — |  |  | 95,114 |  |  | — |  |  | 508,206 |
Cash and cash equivalents, end of period |  | $ | 604,990 |  |  | $ | — |  |  | $ | 263,607 |  |  | $ | — |  |  | $ | 868,597 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Thirty-Nine Weeks Ended September 29, 2013
|  | Parent |  | Subsidiary Guarantor |  | Subsidiary Non-Guarantors |  | Eliminations/ Adjustments |  | Consolidation
|  | (In thousands)
Cash 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 | )
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: |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt |  | 505,600 |  |  | — |  |  | — |  |  | — |  |  | 505,600 |
Payments on long-term debt |  | (758,283 | ) |  | — |  |  | — |  |  | — |  |  | (758,283 | )
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 |

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