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BUSINESS ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 25, 2022
Business Combination and Asset Acquisition [Abstract] |
Fair Values for Assets Acquired and Liabilities Assumed | The fair values recorded for the assets acquired and liabilities assumed for the acquisition are as follows (in thousands):
Cash and cash equivalents | $ | 113 |
Trade accounts and other receivables | 7,387 |
Inventories | 60,341 |
Prepaid expenses and other current assets | 1,727 |
Operating lease assets | 14,648 |
Property, plant and equipment | 247,133 |
Identified intangible assets | 415,157 |
Other assets | 335 |
Total assets acquired | 746,841 |
Accounts payable | 4,615 |
Other current liabilities | 407 |
Operating lease liabilities | 18,996 |
Deferred tax liabilities | 114,701 |
Other long-term liabilities | 2,612 |
Total liabilities assumed | 141,331 |
Identified net assets | 605,510 |
Goodwill | 353,397 |
Total consideration transferred | $ | 958,907 |
Pro Forma Information | The following unaudited pro forma information presents the combined financial results for the Company and PFM for 2022, 2021 and 2020 as if the acquisition had been completed at the beginning of 2020:
| 2022 |  | 2021 |  | 2020
| (In thousands, except per share amounts)
Net sales | $ | 17,468,377 |  |  | $ | 15,442,724 |  |  | $ | 13,023,345 |
Net income attributable to Pilgrim's Pride Corporation | 746,599 |  |  | 19,389 |  |  | 92,991 |
Net income attributable to Pilgrim's Pride Corporation per common share - diluted | $ | 3.11 |  |  | $ | 0.08 |  |  | $ | 0.38 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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