XML 57 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 9 Months Ended
Sep. 28, 2014
Sep. 29, 2013
Sep. 28, 2014
Sep. 29, 2013
Income Statement [Abstract]        
Net sales $ 2,268,048 $ 2,142,815 $ 6,472,929 $ 6,363,863
Cost of sales 1,817,783 1,906,242 5,458,083 5,726,348
Gross profit 450,265 236,573 1,014,846 637,515
Selling, general and administrative expense 44,629 43,797 138,437 131,888
Administrative restructuring charges 135 3,658 2,286 4,622
Operating income 405,501 189,118 874,123 501,005
Interest expense, net of capitalized interest 11,372 20,413 45,407 68,199
Interest income (1,171) (571) (2,974) (1,494)
Foreign currency transaction loss 6,414 2,682 4,932 4,771
Miscellaneous, net (610) (8) (2,609) (730)
Income before income taxes 389,496 166,602 829,367 430,259
Income tax expense 133,693 5,578 284,932 24,216
Net income 255,803 161,024 544,435 406,043
Less: Net income (loss) attributable to noncontrolling interests (181) 107 (26) (161)
Net income attributable to Pilgrim’s Pride Corporation $ 255,984 $ 160,917 $ 544,461 $ 406,204
Weighted average shares of common stock outstanding:        
Basic (in shares) 258,999 258,826 258,966 258,825
Effect of dilutive common stock equivalents (in shares) 523 560 482 341
Diluted (in shares) 259,522 259,386 259,448 259,166
Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding:        
Basic (usd per share) $ 0.99 $ 0.62 $ 2.10 $ 1.57
Diluted (usd per share) $ 0.99 $ 0.62 $ 2.10 $ 1.57