XML 75 R64.htm IDEA: XBRL DOCUMENT
v3.22.1

DEBT - Schedule of Long-term Debt and Other Borrowing Arrangements (Details) - USD ($) |  |  | 3 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Dec. 14, 2018 | Jun. 02, 2018 | Mar. 27, 2022 | Dec. 26, 2021 | Sep. 02, 2021 | Apr. 08, 2021 | Sep. 29, 2017
Debt Instrument [Line Items] |  |  |  |  |  |  |
Finance lease obligations |  |  | $ 4,320,000 | $ 4,548,000 |  |  |
Long-term debt |  |  | 3,444,029,000 | 3,247,358,000 |  |  |
Less: Current maturities of long-term debt |  |  | (36,162,000) | (26,246,000) |  |  |
Long-term debt, less current maturities |  |  | 3,407,867,000 | 3,221,112,000 |  |  |
Less: Capitalized financing costs |  |  | (29,974,000) | (29,951,000) |  |  |
Long-term debt, less current maturities, net of capitalized financing costs |  |  | $ 3,377,893,000 | 3,191,161,000 |  |  |
Term note payable at 2.09% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 2.09% |  |  |  |
Long-term debt |  |  | $ 692,812,000 | 506,250,000 |  |  |
Revolving note payable at 3.50% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 3.50% |  |  |  |
Long-term debt |  |  | $ 0 | 0 |  |  |
Pilgrim's Pride Limited Bank of Ireland Invoice Discounting Facility with notes payable at 2.25% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 2.25% |  |  |  |
Long-term debt |  |  | $ 9,911,000 | 0 |  |  |
Moy Park Bank of Ireland Revolving Facility with notes payable at LIBOR or EURIBOR plus 1.25% to 2.00% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | 0 | 0 |  |  |
Mexico Credit Facility (defined below) with notes payable at TIIE plus 1.50% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 0 | 0 |  |  |
Senior notes | Senior notes payable at 3.50% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 3.50% |  | 3.50% |  |
Long-term debt |  |  | $ 900,000,000 | 900,000,000 |  |  |
Senior notes | Senior notes payable, net of discount, at 4.25% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 4.25% |  |  | 4.25% |
Long-term debt |  |  | $ 990,941,000 | 990,691,000 |  |  |
Senior notes | Senior notes payable, net of discount, at 5.875% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Stated interest rate |  |  | 5.875% |  |  |  | 5.875%
Long-term debt |  |  | $ 846,045,000 | 845,866,000 |  |  |
Credit facility | Moy Park Bank of Ireland Revolving Facility with notes payable at LIBOR or EURIBOR plus 1.25% to 2.00% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 0 |  |  |  |
Credit facility | Moy Park Bank of Ireland Revolving Facility with notes payable at LIBOR or EURIBOR plus 1.25% to 2.00% | Credit facility | LIBOR Rate |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable interest rate |  | 1.25% | 1.25% |  |  |  |
Credit facility | Moy Park Bank of Ireland Revolving Facility with notes payable at LIBOR or EURIBOR plus 1.25% to 2.00% | Credit facility | EURIBOR Rate |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable interest rate |  | 2.00% | 2.00% |  |  |  |
Credit facility | Mexico Credit Facility (defined below) with notes payable at TIIE plus 1.50% | Credit facility |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Long-term debt |  |  | $ 0 |  |  |  |
Credit facility | Mexico Credit Facility (defined below) with notes payable at TIIE plus 1.50% | Credit facility | TIIE Rate |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable interest rate | 1.50% |  | 1.50% |  |  |  |
Secured loans with payables at weighted average of 3.34% |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Weighted average interest rate |  |  | 3.34% |  |  |  |
Long-term debt |  |  | $ 0 | $ 3,000 |  |  |

X
- Definition Long-term Debt, Gross And Lease Obligation, Current + References No definition available. + Details
Name: | ppc_LongtermDebtGrossAndLeaseObligationCurrent
Namespace Prefix: | ppc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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

X
- Definition Long-term Debt, Gross And Lease Obligation, Including Current Maturities + References No definition available. + Details
Name: | ppc_LongtermDebtGrossAndLeaseObligationIncludingCurrentMaturities
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: | dtr-types: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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
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_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: | dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28555-108399 + Details
Name: | us-gaap_DeferredFinanceCostsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Present value of lessee's discounted obligation for lease payments from finance lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123391704&loc=SL77918627-209977 + Details
Name: | us-gaap_FinanceLeaseLiability
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. 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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=120400017&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -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=120398452&loc=d3e534808-122878 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&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 of long-term debt and lease obligation, classified as noncurrent. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtAndCapitalLeaseObligations
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_USCreditFacilityTermLoansDue2026Member
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_USCreditFacilityRevolverDue2026Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_SeniorNotes350Due2032Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_SeniorNotes425Due2031Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ppc_SeniorNotes5.875Due2027Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember
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_VariableRateAxis=ppc_EURIBORRateMember
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_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |