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v3.20.4

REPORTABLE SEGMENTS (Tables) | 12 Months Ended
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Dec. 27, 2020
Segment Reporting [Abstract] |
Schedule of Net Sales, Operating Income, Depreciation and Amortization, Long-lived Assets and Capital Expenditures | Additional information regarding reportable segments is as follows:
| Year Ended
| December 27, 2020(a) |  | December 29,2019(b) |  | December 30, 2018(c)
| (In thousands)
Net sales |  |  |  |  |
U.S. | $ | 7,496,017 |  |  | $ | 7,636,716 |  |  | $ | 7,425,661 |
U.K. and Europe | 3,274,292 |  |  | 2,383,793 |  |  | 2,148,666 |
Mexico | 1,321,592 |  |  | 1,388,710 |  |  | 1,363,457 |
Total | $ | 12,091,901 |  |  | $ | 11,409,219 |  |  | $ | 10,937,784 |
(a)For the year 2020, the United States reportable segment had intercompany sales to the Mexico reportable segment of $210.6 million. These sales consisted of fresh products, prepared products and grain. (b)For the year 2019, the United States reportable segment had intercompany sales to the Mexico reportable segment of $188.9 million. These sales consisted of fresh products, prepared products and grain. (c)For the year 2018, the United States reportable segment had intercompany sales to the Mexico reportable segment of $100.7 million. These sales consisted of fresh products, prepared products and grain.
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Operating income |  |  |  |  |
U.S. | $ | 69,377 |  |  | $ | 487,275 |  |  | $ | 291,381 |
U.K. and Europe | 102,734 |  |  | 79,182 |  |  | 84,524 |
Mexico | 72,879 |  |  | 124,015 |  |  | 119,649 |
Elimination | 473 |  |  | 96 |  |  | 132 |
Total operating income | 245,463 |  |  | 690,568 |  |  | 495,686 |
Interest expense, net of capitalized interest | 126,118 |  |  | 132,630 |  |  | 162,812 |
Interest income | (7,305) |  |  | (14,277) |  |  | (13,811) |
Foreign currency transaction loss | 760 |  |  | 6,917 |  |  | 17,160 |
Gain on bargain purchase | 3,746 |  |  | (56,880) |  |  | — |
Miscellaneous, net | (39,681) |  |  | 4,633 |  |  | (2,702) |
Income before income taxes | 161,825 |  |  | 617,545 |  |  | 332,227 |
Income tax expense | 66,755 |  |  | 161,009 |  |  | 85,423 |
Net income | $ | 95,070 |  |  | $ | 456,536 |  |  | $ | 246,804 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Depreciation and amortization: |  |  |  |  |
U.S. | $ | 218,244 |  |  | $ | 207,584 |  |  | $ | 196,079 |
U.K. and Europe | 92,673 |  |  | 60,499 |  |  | 50,586 |
Mexico | 26,187 |  |  | 19,147 |  |  | 27,423 |
Total | $ | 337,104 |  |  | $ | 287,230 |  |  | $ | 274,088 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Capital expenditures: |  |  |  |  |
U.S. | $ | 264,149 |  |  | $ | 269,609 |  |  | $ | 257,913 |
U.K. and Europe | 77,597 |  |  | 58,795 |  |  | 58,334 |
Mexico | 13,016 |  |  | 19,716 |  |  | 32,419 |
Total | $ | 354,762 |  |  | $ | 348,120 |  |  | $ | 348,666 |
| December 27, 2020 |  | December 29, 2019
| (In thousands)
Total assets: |  |  |
U.S. | $ | 5,189,021 |  |  | $ | 5,207,282 |
U.K. and Europe | 3,034,219 |  |  | 2,824,382 |
Mexico | 1,212,428 |  |  | 1,020,331 |
Eliminations | (1,961,171) |  |  | (1,949,631) |
Total | $ | 7,474,497 |  |  | $ | 7,102,364 |
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
Net sales to customers by customer location: |  |  |  |  |
U.S. | $ | 7,190,809 |  |  | $ | 7,355,631 |  |  | $ | 7,173,280 |
Europe | 3,225,717 |  |  | 2,363,017 |  |  | 2,134,822 |
Mexico | 1,350,588 |  |  | 1,437,081 |  |  | 1,411,727 |
Asia-Pacific | 252,573 |  |  | 175,898 |  |  | 159,515 |
Canada, Caribbean and Central America | 30,792 |  |  | 31,808 |  |  | 26,450 |
Africa | 25,321 |  |  | 28,400 |  |  | 21,286 |
South America | 16,101 |  |  | 17,384 |  |  | 10,704 |
Total | $ | 12,091,901 |  |  | $ | 11,409,219 |  |  | $ | 10,937,784 |
| December 27, 2020 |  | December 29, 2019
| (In thousands)
Long-lived assets(a): |  |  |
U.S. | $ | 1,815,460 |  |  | $ | 1,789,530 |
U.K. and Europe | 842,049 |  |  | 801,887 |
Mexico | 292,651 |  |  | 306,413 |
Eliminations | (3,783) |  |  | (4,256) |
Total | $ | 2,946,377 |  |  | $ | 2,893,574 |
(a)For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting. Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.
Schedule of Sales by Product Lines | The following table sets forth net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of products.
| Year Ended
| December 27, 2020 |  | December 29, 2019 |  | December 30, 2018
| (In thousands)
U.S. chicken: |  |  |  |  |
Fresh | $ | 6,137,265 |  |  | $ | 6,214,954 |  |  | $ | 5,959,458 |
Prepared | 714,563 |  |  | 842,365 |  |  | 773,983 |
Exports | 306,478 |  |  | 282,791 |  |  | 258,732 |
Total U.S. chicken | 7,158,306 |  |  | 7,340,110 |  |  | 6,992,173 |
U.K. and Europe chicken: |  |  |  |  |
Fresh | 863,670 |  |  | 918,852 |  |  | 925,124 |
Prepared | 751,196 |  |  | 817,292 |  |  | 865,864 |
Exports | 227,224 |  |  | 262,041 |  |  | 303,921 |
Total U.K. and Europe chicken | 1,842,090 |  |  | 1,998,185 |  |  | 2,094,909 |
Mexico chicken: |  |  |  |  |
Fresh | 1,210,952 |  |  | 1,245,976 |  |  | 1,252,403 |
Prepared | 66,572 |  |  | 95,733 |  |  | 76,860 |
Total Mexico chicken | 1,277,524 |  |  | 1,341,709 |  |  | 1,329,263 |
Total chicken | 10,277,920 |  |  | 10,680,004 |  |  | 10,416,345 |
U.K. and Europe pork: |  |  |  |  |
Fresh | 730,703 |  |  | 135,985 |  |  | — |
Prepared | 486,290 |  |  | 134,426 |  |  | — |
Exports | 70,190 |  |  | 16,174 |  |  | — |
Total U.K. and Europe pork | 1,287,183 |  |  | 286,585 |  |  | — |
Other products: |  |  |  |  |
U.S. | 337,711 |  |  | 296,606 |  |  | 433,488 |
U.K. and Europe | 145,019 |  |  | 99,023 |  |  | 53,757 |
Mexico | 44,068 |  |  | 47,001 |  |  | 34,194 |
Total other products | 526,798 |  |  | 442,630 |  |  | 521,439 |
Total net sales | $ | 12,091,901 |  |  | $ | 11,409,219 |  |  | $ | 10,937,784 |

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