SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies (Tables)

8 Months Ended

Dec. 29, 2013

Schedule of Components of Comparative Net Income [Table Text Block]

For comparative purposes, the Consolidated Statements of Income for the eight months ended December 29, 2013 and December 30, 2012 are presented as follows:



	Successor		Predecessor
					(unaudited)
					Eight Months Ended
	September 27 - December 29, 2013		April 29 - September 26, 2013		December 30, 2012
	(in millions)
Sales	$	3,894.2	$	5,679.5	$	8,898.7
Cost of sales	3,543.1		5,190.1		7,943.5
Gross profit	351.1		489.4		955.2
Selling, general and administrative expenses	213.4		341.7		540.5
Merger related costs	23.9		18.0		—
Loss (income) from equity method investments	2.6		0.5		(6.5		)
Operating profit	111.2		129.2		421.2
Interest expense	59.0		64.6		111.8
Loss on debt extinguishment	1.7		—		120.7
Income before income taxes	50.5		64.6		188.7
Income tax expense	15.8		12.7		58.7
Net income	$	34.7	$	51.9	$	130.0

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following:



	Successor		Predecessor
	December 29, 2013		April 28, 2013		April 29, 2012
	(in millions)
Livestock	$	1,054.8	$	1,113.5	$	962.8
Fresh and packaged meats	956.7		960.8		912.1
Grains	134.5		162.0		90.4
Manufacturing supplies	69.3		57.7		59.1
Other	59.4		54.3		48.0
Total inventories	$	2,274.7	$	2,348.3	$	2,072.4

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment, net, consists of the following:



		Successor			Predecessor
	Useful Life	December 29, 2013			April 28, 2013			April 29, 2012
	(in Years)	(in millions)
Land and improvements	0-20	$	551.9		$	276.1		$	268.9
Buildings and improvements	20-40	846.3			1,788.6			1,690.6
Machinery and equipment	5-25	996.4			1,862.7			1,780.6
Breeding stock	2	193.2			186.7			182.1
Computer hardware and software	3-5	35.3			156.1			148.4
Other	3-10	66.4			94.4			89.1
Construction in progress		106.4			105.5			110.2
		2,795.9			4,470.1			4,269.9
Accumulated depreciation		(50.0		)	(2,171.7		)	(1,992.7		)
Property, plant and equipment, net		$	2,745.9		$	2,298.4		$	2,277.2

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Table Text Block]

Intangible assets consist of the following:



		Successor			Predecessor
	Useful Life	December 29, 2013			April 28, 2013			April 29, 2012
	(in Years)	(in millions)
Amortized intangible assets:
Customer relations assets	14-16	$	55.2		$	23.0		$	13.3
Patents, rights and leasehold interests	5-25	3.0			14.3			11.8
Contractual relationships	17-22	40.0			33.1			33.1
Accumulated amortization		(1.6		)	(25.7		)	(22.6		)
Amortized intangible assets, net		96.6			44.7			35.6
Non-amortized intangible assets:
Trademarks	Indefinite	1,309.2			339.6			340.1
Permits	Indefinite	—			6.1			6.1
Intangible assets, net		$	1,405.8		$	390.4		$	381.8