XML 79 R64.htm IDEA: XBRL DOCUMENT
v3.8.0.1

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Schedule of Long-term Debt and Other Borrowing Arrangements) (Details) £ in Millions |  |  | 9 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Sep. 27, 2016 | Jan. 29, 2016 | Sep. 24, 2017 USD ($) | Sep. 08, 2017 GBP (£) | Dec. 25, 2016 USD ($) | Mar. 11, 2015 | May 29, 2014
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 2,629,080,000 |  | $ 1,429,981,000 |  |
Less: Current maturities of long-term debt |  |  | (61,811,000) |  | (15,712,000) |  |
Long-term debt, less current maturities |  |  | 2,567,269,000 |  | 1,414,269,000 |  |
Less: Capitalized financing costs |  |  | (18,694,000) |  | (18,145,000) |  |
Long-term debt, less current maturities, net of capitalized financing costs: |  |  | $ 2,548,575,000 |  | 1,396,124,000 |  |
Term note payable at 2.55% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 2.55% |  |  |  |
Long-term debt |  |  | $ 790,000,000 |  | 500,000,000 |  |
Revolving note payable at 2.48% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 2.48% |  |  |  |
Long-term debt |  |  | $ 73,262,000 |  | 0 |  |
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 84,524,000 |  | 23,304,000 |  |
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | Line of credit | TIIE Rate |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | 0.95% |  | 0.95% |  |  |  |
Moy Park Multicurrency Revolving Facility with notes payable at LIBOR rate plus 2.5% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 9,953,000 |  | 11,985,000 |  |
Moy Park Multicurrency Revolving Facility with notes payable at LIBOR rate plus 2.5% | Line of credit | London Interbank Offered Rate (LIBOR) |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  | 1.50% | 2.50% |  |  |  |
Moy Park Receivable with payables at LIBOR plus 1.5% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 0 |  | 0 |  |
Moy Park France Invoice Discounting Revolver with payables at EURIBOR plus 0.8% | Line of credit |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 3,930,000 |  | 8,918,000 |  |
Senior notes | Senior notes payable at 5.75% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 5.75% |  |  | 5.75% |
Long-term debt |  |  | $ 500,000,000 |  | 500,000,000 |  |
Senior notes | Senior notes payable at 6.25% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 6.25% |  |  |  | 6.25%
Long-term debt |  |  | $ 401,982,000 |  | 369,736,000 |  |
Mortgages | Chattels mortgages with payables at weighted average of 3.74% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Weighted average interest rate |  |  | 3.74% |  |  |  |
Long-term debt |  |  | $ 1,015,000 |  | 1,432,000 |  |
Notes Payable to Related Parties | JBS S.A. Promissory Note at 0.0% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 0.00% |  |  |  |
Long-term debt |  |  | $ 753,705,000 |  | 0 |  |
Subordinated Debt |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt | £ |  |  |  | £ 562.5 |  |  |
Subordinated Debt | Term Loan Agence L'eau |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | 6,000 |  | 6,000 |  |
Other long-term debt |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 10,703,000 |  | $ 14,600,000 |  |

X
- Definition Long-term Debt, Excluding Current Maturities, Net + References No definition available. + Details
Name: | ppc_LongtermDebtExcludingCurrentMaturitiesNet
Namespace Prefix: | ppc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28555-108399 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DeferredFinanceCostsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_USCreditFacilityTermLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_USCreditFacilityRevolverMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_MexicoCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=ppc_TIIERateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_MoyParkMulticurrencyRevolvingFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_MoyParkReceivablesFinanceAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_MoyParkFranceInvoiceDiscountingFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_SeniorNotes5.75Due2025Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_SeniorNotes6.25Due2021Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_ChattelsMortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_NotesPayableOtherPayablesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_JBSS.A.PromissoryNoteMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SubordinatedDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_TermLoanAgenceLeauMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=ppc_OtherLongTermDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |