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REPORTABLE SEGMENTS (Tables) | 3 Months Ended
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Mar. 28, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Additional information regarding reportable segments is as follows:
| Three Months Ended
| March 28, 2021(a) |  | March 29, 2020(b)
Net sales |  |  |
U.S. | $ | 1,999,559 |  |  | $ | 1,926,880 |
U.K. and Europe | 854,734 |  |  | 822,262 |
Mexico | 419,132 |  |  | 325,786 |
Total | $ | 3,273,425 |  |  | $ | 3,074,928 |
(a)For the three months ended March 28, 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $68.1 million. These sales consisted of fresh products and grain. (b)For the three months ended March 29, 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $56.6 million. These sales consisted of fresh products, prepared products, and grain.
| Three Months Ended
| March 28, 2021 |  | March 29, 2020
| (In thousands)
Reportable segment profit (loss) |  |  |
U.S. | $ | 68,125 |  |  | $ | 85,052 |
U.K. and Europe | 10,495 |  |  | 23,190 |
Mexico | 79,830 |  |  | (23,880) |
Eliminations | 14 |  |  | 24 |
Total operating income | 158,464 |  |  | 84,386 |
Interest expense, net of capitalized interest | 30,334 |  |  | 32,688 |
Interest income | (2,366) |  |  | (1,690) |
Foreign currency transaction loss (gain) | 2,514 |  |  | (18,385) |
Miscellaneous, net | (7,844) |  |  | (34,188) |
Income before income taxes | 135,826 |  |  | 105,961 |
Income tax expense | 35,358 |  |  | 38,512 |
Net income | $ | 100,468 |  |  | $ | 67,449 |
| March 28, 2021 |  | December 27, 2020
| (In thousands)
Total assets |  |  |
U.S. | $ | 5,265,188 |  |  | $ | 5,189,021 |
U.K. and Europe | 3,044,968 |  |  | 3,034,219 |
Mexico | 1,132,460 |  |  | 1,212,428 |
Eliminations | (1,961,855) |  |  | (1,961,171) |
Total assets | $ | 7,480,761 |  |  | $ | 7,474,497 |
| March 28, 2021 |  | December 27, 2020
| (In thousands)
Long-lived assets(a) |  |  |
U.S. | $ | 1,843,425 |  |  | $ | 1,815,460 |
U.K. and Europe | 837,729 |  |  | 842,049 |
Mexico | 284,780 |  |  | 292,651 |
Eliminations | (3,770) |  |  | (3,783) |
Total long-lived assets | $ | 2,962,164 |  |  | $ | 2,946,377 |
(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.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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