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REVENUE RECOGNITION (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregated Revenue | Revenue has been disaggregated into the categories below to show how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows:
| Three Months Ended June 30, 2024
| (In thousands)
| Fresh |  | Prepared |  | Export |  | Other |  | Total
U.S. | $ | 2,201,918 |  |  | $ | 254,325 |  |  | $ | 119,964 |  |  | $ | 87,758 |  |  | $ | 2,663,965 |
Europe | 286,656 |  |  | 877,312 |  |  | 109,304 |  |  | 28,269 |  |  | 1,301,541 |
Mexico | 508,721 |  |  | 56,075 |  |  | — |  |  | 29,012 |  |  | 593,808 |
Total net sales | $ | 2,997,295 |  |  | $ | 1,187,712 |  |  | $ | 229,268 |  |  | $ | 145,039 |  |  | $ | 4,559,314 |
| Three Months Ended June 25, 2023
| (In thousands)
| Fresh |  | Prepared |  | Export |  | Other |  | Total
U.S. | $ | 1,992,208 |  |  | $ | 221,655 |  |  | $ | 139,498 |  |  | $ | 92,847 |  |  | $ | 2,446,208 |
Europe | 280,707 |  |  | 878,720 |  |  | 117,103 |  |  | 34,220 |  |  | 1,310,750 |
Mexico | 473,742 |  |  | 49,848 |  |  | — |  |  | 27,543 |  |  | 551,133 |
Total net sales | $ | 2,746,657 |  |  | $ | 1,150,223 |  |  | $ | 256,601 |  |  | $ | 154,610 |  |  | $ | 4,308,091 |
| Six Months Ended June 30, 2024
| (In thousands)
| Fresh |  | Prepared |  | Export |  | Other |  | Total
U.S. | $ | 4,315,541 |  |  | $ | 523,315 |  |  | $ | 228,762 |  |  | $ | 175,679 |  |  | $ | 5,243,297 |
Europe | 557,804 |  |  | 1,722,308 |  |  | 227,755 |  |  | 61,577 |  |  | 2,569,444 |
Mexico | 938,873 |  |  | 111,595 |  |  | — |  |  | 58,039 |  |  | 1,108,507 |
Total net sales | $ | 5,812,218 |  |  | $ | 2,357,218 |  |  | $ | 456,517 |  |  | $ | 295,295 |  |  | $ | 8,921,248 |
| Six Months Ended June 25, 2023
| (In thousands)
| Fresh |  | Prepared |  | Export |  | Other |  | Total
U.S. | $ | 3,935,994 |  |  | $ | 466,456 |  |  | $ | 267,773 |  |  | $ | 208,553 |  |  | $ | 4,878,776 |
Europe | 545,370 |  |  | 1,710,449 |  |  | 234,724 |  |  | 59,471 |  |  | 2,550,014 |
Mexico | 885,661 |  |  | 96,204 |  |  | — |  |  | 63,064 |  |  | 1,044,929 |
Total net sales | $ | 5,367,025 |  |  | $ | 2,273,109 |  |  | $ | 502,497 |  |  | $ | 331,088 |  |  | $ | 8,473,719 |
Additional disaggregation of revenue by sales channel is provided below:
| Three Months Ended June 30, 2024
| (In thousands)
| Retail |  | Foodservice |  | Export |  | Other |  | Total
U.S. | $ | 1,395,222 |  |  | $ | 1,038,749 |  |  | $ | 119,964 |  |  | $ | 110,030 |  |  | $ | 2,663,965 |
Europe | 821,785 |  |  | 229,800 |  |  | 109,304 |  |  | 140,652 |  |  | 1,301,541 |
Mexico(a) | 137,241 |  |  | 277,533 |  |  | — |  |  | 179,034 |  |  | 593,808 |
Total net sales | $ | 2,354,248 |  |  | $ | 1,546,082 |  |  | $ | 229,268 |  |  | $ | 429,716 |  |  | $ | 4,559,314 |
| Three Months Ended June 25, 2023
| (In thousands)
| Retail |  | Foodservice |  | Export |  | Other |  | Total
U.S. | $ | 1,214,658 |  |  | $ | 959,141 |  |  | $ | 139,498 |  |  | $ | 132,911 |  |  | $ | 2,446,208 |
Europe | 820,452 |  |  | 234,680 |  |  | 117,103 |  |  | 138,515 |  |  | 1,310,750 |
Mexico(a) | 123,718 |  |  | 271,570 |  |  | — |  |  | 155,845 |  |  | 551,133 |
Total net sales | $ | 2,158,828 |  |  | $ | 1,465,391 |  |  | $ | 256,601 |  |  | $ | 427,271 |  |  | $ | 4,308,091 |
| Six Months Ended June 30, 2024
| (In thousands)
| Retail |  | Foodservice |  | Export |  | Other |  | Total
U.S. | $ | 2,788,799 |  |  | $ | 1,998,888 |  |  | $ | 228,762 |  |  | $ | 226,848 |  |  | $ | 5,243,297 |
Europe | 1,634,043 |  |  | 431,627 |  |  | 227,755 |  |  | 276,019 |  |  | 2,569,444 |
Mexico(a) | 272,372 |  |  | 517,262 |  |  | — |  |  | 318,873 |  |  | 1,108,507 |
Total net sales | $ | 4,695,214 |  |  | $ | 2,947,777 |  |  | $ | 456,517 |  |  | $ | 821,740 |  |  | $ | 8,921,248 |
| Six Months Ended June 25, 2023
| (In thousands)
| Retail |  | Foodservice |  | Export |  | Other |  | Total
U.S. | $ | 2,473,528 |  |  | $ | 1,853,474 |  |  | $ | 267,773 |  |  | $ | 284,001 |  |  | $ | 4,878,776 |
Europe | 1,585,676 |  |  | 454,007 |  |  | 234,724 |  |  | 275,607 |  |  | 2,550,014 |
Mexico(a) | 224,419 |  |  | 512,487 |  |  | — |  |  | 308,023 |  |  | 1,044,929 |
Total net sales | $ | 4,283,623 |  |  | $ | 2,819,968 |  |  | $ | 502,497 |  |  | $ | 867,631 |  |  | $ | 8,473,719 |
(a)Included in Mexico foodservice channel are sales to wholesale public meat markets that typically sell product on to foodservice customers. Included in Mexico other channel are sales to live chicken markets.
Schedule of Changes in Revenue Contract Liability | Changes in the revenue contract liabilities balance are as follows (in thousands):
Balance as of December 31, 2023 | $ | 84,958 |
Revenue recognized | (79,999) |
Cash received, excluding amounts recognized as revenue during the period | 62,217 |
Balance as of June 30, 2024 | $ | 67,176 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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