XML 46 R35.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 29, 2024 | Jun. 29, 2024
Accounting Policies [Abstract] |  |
Restrictions on Cash and Cash Equivalents |  | A reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statement of Cash flows is as follows (in thousands):
|  | June 29, 2024 | December 30, 2023
Cash and cash equivalents |  | $ | 121,587 |  | $ | 126,502 |
Restricted cash |  | 26,290 |  | 292 |
Restricted cash included in other long-term assets |  | 117,715 |  | 137,656 |
Total cash, cash equivalents and restricted cash shown in the statement of cash flows |  | $ | 265,592 |  | $ | 264,450 |
Net Income per Common Share | Basic income per common share is computed by dividing net income attributable to Darling by the weighted average number of common shares including non-vested and restricted shares outstanding during the period. Diluted income per common share is computed by dividing net income attributable to Darling by the weighted average number of common shares outstanding during the period increased by dilutive common equivalent shares determined using the treasury stock method.
| Net Income per Common Share (in thousands, except per share data)
| Three Months Ended
|  |  | June 29, 2024 |  |  |  |  |  | July 1, 2023 |  |
| Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
Basic: |  |  |  |  |  |  |  |  |  |  |
Net Income attributable to Darling | $ | 78,866 |  |  | 159,815 |  |  | $ | 0.49 |  |  | $ | 252,383 |  |  | 159,810 |  |  | $ | 1.58 |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Add: Option shares in the money and dilutive effect of non-vested stock awards |  |  | 2,881 |  |  |  |  |  |  | 3,308 |  |  |
Less: Pro forma treasury shares |  |  | (991) |  |  |  |  |  |  | (748) |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Darling | $ | 78,866 |  |  | 161,705 |  |  | $ | 0.49 |  |  | $ | 252,383 |  |  | 162,370 |  |  | $ | 1.55 |
| Net Income per Common Share (in thousands, except per share data)
| Six Months Ended
|  |  | June 29, 2024 |  |  |  |  |  | July 1, 2023 |  |
| Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
Basic: |  |  |  |  |  |  |  |  |  |  |
Net Income attributable to Darling | $ | 160,023 |  |  | 159,813 |  |  | $ | 1.00 |  |  | $ | 438,184 |  |  | 159,978 |  |  | $ | 2.74 |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Add: Option shares in the money and dilutive effect of non-vested stock awards |  |  | 2,968 |  |  |  |  |  |  | 3,363 |  |  |
Less: Pro forma treasury shares |  |  | (976) |  |  |  |  |  |  | (748) |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Darling | $ | 160,023 |  |  | 161,805 |  |  | $ | 0.99 |  |  | $ | 438,184 |  |  | 162,593 |  |  | $ | 2.69 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration