XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.20.4

RELATED PARTY TRANSACTIONS | 12 Months Ended
--- | ---
Dec. 27, 2020
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Pilgrim's has been and, in some cases, continues to be a party to certain transactions with affiliated companies.
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Sales to related parties: |  |  |  |  |
JBS USA Food Company(a) | $ | 14,228 |  |  | $ | 14,108 |  |  | $ | 13,843 |
JBS Five Rivers | — |  |  | — |  |  | 7,096 |
JBS Global (UK) Ltd. | — |  |  | 141 |  |  | — |
JBS Chile Ltda. | 225 |  |  | 482 |  |  | 60 |
Combo, Mercado de Congelados | 887 |  |  | 207 |  |  | 159 |
JBS Australia Pty. Ltd. | 2,540 |  |  | — |  |  | — |
Total sales to related parties | $ | 17,880 |  |  | $ | 14,938 |  |  | $ | 21,158 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Cost of goods purchased from related parties: |  |  |  |  |
JBS USA Food Company(a) | $ | 142,615 |  |  | $ | 134,790 |  |  | $ | 117,596 |
Seara Meats B.V. | 8,138 |  |  | 22,797 |  |  | 36,223 |
JBS Aves Ltda. | — |  |  | — |  |  | 1,123 |
JBS Toledo NV | 155 |  |  | 307 |  |  | 445 |
JBS Global (UK) Ltd. | 674 |  |  | 170 |  |  | 21 |
Total cost of goods purchased from related parties | $ | 151,582 |  |  | $ | 158,064 |  |  | $ | 155,408 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Expenditures paid by related parties: |  |  |  |  |
JBS USA Food Company(b) | $ | 39,025 |  |  | $ | 32,161 |  |  | $ | 62,189 |
JBS Chile Ltda. | — |  |  | 6 |  |  | 33 |
Seara Food Europe Holdings | 9 |  |  | 77 |  |  | — |
Total expenditures paid by related parties | $ | 39,034 |  |  | $ | 32,244 |  |  | $ | 62,222 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Expenditures paid on behalf of related parties: |  |  |  |  |
JBS USA Food Company(b) | $ | 16,266 |  |  | $ | 9,103 |  |  | $ | 9,192 |
JBS S.A. | — |  |  | — |  |  | 170 |
Seara International Ltd. | — |  |  | — |  |  | 45 |
Total expenditures paid on behalf of related parties | $ | 16,266 |  |  | $ | 9,103 |  |  | $ | 9,407 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Other related party transactions: |  |  |  |  |
Capital distribution under tax sharing agreement (c) | $ | 650 |  |  | $ | — |  |  | $ | 525 |
Total other related party transactions | $ | 650 |  |  | $ | — |  |  | $ | 525 |
| December 27, 2020 |  | December 29, 2019
| (In thousands)
Accounts receivable from related parties: |  |  |
JBS USA Food Company(a) | $ | 714 |  |  | $ | 643 |
JBS Chile Ltda. | — |  |  | 301 |
JBS Australia Pty. Ltd. | 370 |  |  | — |
Total accounts receivable from related parties | $ | 1,084 |  |  | $ | 944 |
| December 27, 2020 |  | December 29, 2019
| (In thousands)
Accounts payable to related parties: |  |  |
JBS USA Food Company(a) | $ | 8,562 |  |  | $ | 2,826 |
JBS Global UK Ltd. | 5 |  |  | 5 |
Seara Meats B.V. | 1,075 |  |  | 988 |
JBS Chile Ltda. | 8 |  |  | — |
Total accounts payable to related parties | $ | 9,650 |  |  | $ | 3,819 |
(a) The Company routinely execute transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of December 27, 2020, approximately $1.5 million of goods from JBS USA were in transit and not reflected on our Consolidated Balance Sheets. (b) The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for both companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. This agreement expires on December 31, 2021. (c) The Company entered into a tax sharing agreement during 2014 with JBS USA Holdings effective for tax years starting in 2010. The net tax payable for tax year 2020 was accrued in 2020 and will be paid in 2021. The net tax payable for tax year 2018 was accrued in 2018 and was paid in 2019.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration