XML 80 R69.htm IDEA: XBRL DOCUMENT
v3.22.1

PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) $ in Millions | 3 Months Ended |
--- | --- | ---
Mar. 27, 2022 USD ($) plan | Mar. 28, 2021 USD ($) | Dec. 26, 2021 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Retirement plan expenses | $ 6.4 | $ 5.3 |
Accumulated benefit obligation, defined benefit pension plans | $ 340.8 |  | $ 373.1
Weighted average duration of defined benefit obligation | 17 years 21 days |  |
Expenses related to defined contribution plans | $ 5.5 | $ 4.6 |
U.S. |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Number of defined contribution plans | plan | 2 |  |
Mexico |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Number of defined contribution plans | plan | 3 |  |
U.K. and Europe |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Number of defined contribution plans | plan | 2 |  |
Fixed income securities | Union Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 50.00% |  |
Fixed income securities | GK Pension Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 35.00% |  |
Equity securities | GK Pension Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 60.00% |  |
Real estate | GK Pension Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 5.00% |  |
Real estate | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 10.00% |  |
Global equity funds | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 21.00% |  |
Global equity funds | GEO Adams Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 37.00% |  |
Equity-linked liability driven investments | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 28.00% |  |
Equity-linked liability driven investments | GEO Adams Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 20.00% |  |
Liability driven investments | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 11.00% |  |
Liability driven investments | GEO Adams Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 18.00% |  |
Diversified Alternatives | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 15.00% |  |
Cash and cash equivalents | Tulip Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 15.00% |  |
Cash and cash equivalents | GEO Adams Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 10.00% |  |
Corporate Bonds | GEO Adams Plan |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Target plan asset allocations | 15.00% |  |
Pension Benefits |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Change in discount rate on projected benefit obligation, percentage | 0.25% |  |
Expected contributions, remainder of 2022 | $ 4.2 |  |
Other Benefits |  |  |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] |  |  |
Expected contributions, remainder of 2022 | $ 0.2 |  |

X
- Definition Defined Benefit Plan, Change In Discount Rate on Accumulated Postretirement Benefit Obligation, Percentage + References No definition available. + Details
Name: | ppc_DefinedBenefitPlanChangeInDiscountRateOnAccumulatedPostretirementBenefitObligationPercentage
Namespace Prefix: | ppc_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Defined Benefit Plan, Weighted Average Term of Benefit Obligation + References No definition available. + Details
Name: | ppc_DefinedBenefitPlanWeightedAverageTermofBenefitObligation
Namespace Prefix: | ppc_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Defined Contribution Plan, Number Of Plans + References No definition available. + Details
Name: | ppc_DefinedContributionPlanNumberOfPlans
Namespace Prefix: | ppc_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of actuarial present value of benefits attributed to employee service rendered, excluding assumptions about future compensation level. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of contribution expected to be received by defined benefit plan from employer in remainder of current fiscal year. Excludes contribution previously paid by employer in current fiscal year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2709-114920 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4587-114921 + Details
Name: | us-gaap_DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage of target investment allocation to total plan assets. Includes, but is not limited to, percentage on weighted-average basis if more than one plan. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_DefinedBenefitPlanPlanAssetsTargetAllocationPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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_DefinedBenefitPlansAndOtherPostretirementBenefitPlansTableTextBlockLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of cost for defined contribution plan. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 + Details
Name: | us-gaap_DefinedContributionPlanCostRecognized
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of cost (reversal of cost) for pension and other postretirement benefits. + References No definition available. + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanSponsorLocationAxis=country_US
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanSponsorLocationAxis=country_MX
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanSponsorLocationAxis=srt_EuropeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_FixedIncomeSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PlanNameAxis=ppc_UnionPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PlanNameAxis=ppc_GKPensionPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_DefinedBenefitPlanEquitySecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_RealEstateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PlanNameAxis=ppc_TulipPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_DefinedBenefitPlanEquitySecuritiesNonUsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PlanNameAxis=ppc_GEOAdamsPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_CorporateDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_DefinedBenefitPlanDebtSecurityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_HedgeFundsMultistrategyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_DefinedBenefitPlanCashAndCashEquivalentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_CorporateBondSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |