Pilgrim's Pride (PPC) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-9273
Entity Registrant Name	PILGRIM’S PRIDE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-1285071
Entity Address, Address Line One	1770 Promontory Circle
Entity Address, City or Town	Greeley
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80634-9038
City Area Code	970
Local Phone Number	506-8000
Title of 12(b) Security	Common Stock, Par Value $0.01
Trading Symbol	PPC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		237,123,076
Amendment Flag	false
Entity Central Index Key	0000802481
Current Fiscal Year End Date	--12-29
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and cash equivalents	$ 1,317,087	$ 697,748
Restricted cash and restricted cash equivalents	17,039	33,475
Inventories	1,806,244	1,985,399
Income taxes receivable	93,259	161,062
Prepaid expenses and other current assets	230,610	195,831
Total current assets	4,512,154	4,204,471
Deferred tax assets	31,980	4,890
Other long-lived assets	53,236	35,646
Operating lease assets, net	270,872	266,707
Intangible assets, net	828,902	853,983
Goodwill	1,258,285	1,286,261
Property, plant and equipment, net	3,123,028	3,158,403
Total assets	10,078,457	9,810,361
Revenue contract liabilities	67,176	84,958
Accrued expenses and other current liabilities	999,075	926,727
Income taxes payable	56,487	31,678
Current maturities of long-term debt	585	674
Total current liabilities	2,484,345	2,495,867
Noncurrent operating lease liabilities, less current maturities	212,219	203,348
Long-term debt, less current maturities	3,183,095	3,340,841
Deferred tax liabilities	419,366	385,548
Other long-term liabilities	33,951	40,180
Total liabilities	6,332,976	6,465,784
Common stock	2,621	2,620
Treasury stock	(544,687)	(544,687)
Additional paid-in capital	1,986,198	1,978,849
Retained earnings	2,571,797	2,071,073
Accumulated other comprehensive loss	(284,390)	(176,483)
Total Pilgrim’s Pride Corporation stockholders’ equity	3,731,539	3,331,372
Noncontrolling interest	13,942	13,205
Total stockholders’ equity	3,745,481	3,344,577
Total liabilities and stockholders’ equity	10,078,457	9,810,361
Nonrelated Party
Trade accounts and other receivables, less allowance for credit losses and Accounts receivable from related parties	1,045,860	1,129,178
Accounts payable and Accounts payable to related parties	1,337,691	1,410,576
Related Party
Trade accounts and other receivables, less allowance for credit losses and Accounts receivable from related parties	2,055	1,778
Accounts payable and Accounts payable to related parties	$ 23,331	$ 41,254

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Income Statement [Abstract]
Net sales	$ 4,559,314	$ 4,308,091	$ 8,921,248	$ 8,473,719
Cost of sales	3,867,688	4,029,666	7,845,713	8,022,247
Gross profit	691,626	278,425	1,075,535	451,472
Selling, general and administrative expense	214,161	148,436	333,237	282,114
Restructuring activities	36,675	29,718	51,234	37,744
Operating income	440,790	100,271	691,064	131,614
Interest expense, net of capitalized interest	31,201	47,152	72,444	89,814
Interest income	(15,863)	(7,628)	(26,209)	(11,228)
Foreign currency transaction losses (gains)	(2,225)	16,395	(6,562)	34,538
Miscellaneous, net	504	(1,331)	(2,782)	(23,984)
Income before income taxes	427,173	45,683	654,173	42,474
Income tax expense (benefit)	100,650	(15,225)	152,712	(24,065)
Net income	326,523	60,908	501,461	66,539
Less: Net income attributable to noncontrolling interests	220	452	737	896
Net income attributable to Pilgrim’s Pride Corporation	$ 326,303	$ 60,456	$ 500,724	$ 65,643
Weighted average shares of Pilgrim’s Pride Corporation common stock outstanding:
Basic (in shares)	236,943	236,733	236,894	236,659
Effect of dilutive common stock equivalents (in shares)	790	476	721	527
Diluted (in shares)	237,733	237,209	237,615	237,186
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:
Basic (in dollars per share)	$ 1.38	$ 0.26	$ 2.11	$ 0.28
Diluted (in dollars per share)	$ 1.37	$ 0.25	$ 2.11	$ 0.28

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 326,523	$ 60,908	$ 501,461	$ 66,539
Foreign currency translation adjustment:
Gains (losses) arising during the period	(81,646)	101,281	(114,136)	143,925
Derivative financial instruments designated as cash flow hedges:
Gains (losses) arising during the period	1,542	(1,677)	2,007	(1,659)
Reclassification to net earnings for gains realized	(1,020)	(285)	(2,061)	(349)
Available-for-sale securities:
Gains (losses) arising during the period	152	(94)	152	(54)
Income tax effect	(37)	23	(37)	13
Reclassification to net earnings for losses (gains) realized	(226)	47	(234)	29
Income tax effect	55	(12)	57	(7)
Defined benefit plans:
Gains arising during the period	3,980	5,760	8,119	9,993
Income tax effect	(981)	(2,546)	(2,035)	(3,127)
Reclassification to net earnings of losses realized	204	266	344	448
Income tax effect	(49)	(63)	(83)	(106)
Total other comprehensive income (loss), net of tax	(78,026)	102,700	(107,907)	149,106
Comprehensive income	248,497	163,608	393,554	215,645
Less: Comprehensive income attributable to noncontrolling interests	220	452	737	896
Comprehensive income attributable to Pilgrim’s Pride Corporation	$ 248,277	$ 163,156	$ 392,817	$ 214,749

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Common stock, beginning balance (in shares) at Dec. 25, 2022		261,611
Balance, beginning of period at Dec. 25, 2022	$ 2,853,276	$ 2,617	$ (544,687)	$ 1,969,833	$ 1,749,499	$ (336,448)	$ 12,462
Treasury stock, beginning of period (in shares) at Dec. 25, 2022			(25,142)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	66,539				65,643		896
Other comprehensive (loss) income, net of tax	149,106					149,106
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		264
Common stock issued under compensation plans	0	$ 2		(2)
Requisite service period recognition	3,667			3,667
Common stock, ending balance of period (in shares) at Jun. 25, 2023		261,875
Balance, end of period at Jun. 25, 2023	3,072,588	$ 2,619	$ (544,687)	1,973,498	1,815,142	(187,342)	13,358
Treasury stock, end of period (in shares) at Jun. 25, 2023			(25,142)
Common stock, beginning balance (in shares) at Mar. 26, 2023		261,875
Balance, beginning of period at Mar. 26, 2023	2,906,520	$ 2,619	$ (544,687)	1,971,038	1,754,686	(290,042)	12,906
Treasury stock, beginning of period (in shares) at Mar. 26, 2023			(25,142)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	60,908				60,456		452
Other comprehensive (loss) income, net of tax	102,700					102,700
Stock-based compensation plans:
Requisite service period recognition	2,460			2,460
Common stock, ending balance of period (in shares) at Jun. 25, 2023		261,875
Balance, end of period at Jun. 25, 2023	3,072,588	$ 2,619	$ (544,687)	1,973,498	1,815,142	(187,342)	13,358
Treasury stock, end of period (in shares) at Jun. 25, 2023			(25,142)
Common stock, beginning balance (in shares) at Dec. 31, 2023		261,931
Balance, beginning of period at Dec. 31, 2023	3,344,577	$ 2,620	$ (544,687)	1,978,849	2,071,073	(176,483)	13,205
Treasury stock, beginning of period (in shares) at Dec. 31, 2023			(25,142)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	501,461				500,724		737
Other comprehensive (loss) income, net of tax	(107,907)					(107,907)
Stock-based compensation plans:
Common stock issued under compensation plans (in shares)		153
Common stock issued under compensation plans	0	$ 1		(1)
Requisite service period recognition	7,350			7,350
Common stock, ending balance of period (in shares) at Jun. 30, 2024		262,084
Balance, end of period at Jun. 30, 2024	3,745,481	$ 2,621	$ (544,687)	1,986,198	2,571,797	(284,390)	13,942
Treasury stock, end of period (in shares) at Jun. 30, 2024			(25,142)
Common stock, beginning balance (in shares) at Mar. 31, 2024		262,084
Balance, beginning of period at Mar. 31, 2024	3,494,378	$ 2,621	$ (544,687)	1,983,592	2,245,494	(206,364)	13,722
Treasury stock, beginning of period (in shares) at Mar. 31, 2024			(25,142)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	326,523				326,303		220
Other comprehensive (loss) income, net of tax	(78,026)					(78,026)
Stock-based compensation plans:
Requisite service period recognition	2,606			2,606
Common stock, ending balance of period (in shares) at Jun. 30, 2024		262,084
Balance, end of period at Jun. 30, 2024	$ 3,745,481	$ 2,621	$ (544,687)	$ 1,986,198	$ 2,571,797	$ (284,390)	$ 13,942
Treasury stock, end of period (in shares) at Jun. 30, 2024			(25,142)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023
Cash flows from operating activities:
Net income	$ 501,461	$ 66,539
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	211,298	203,114
Gain on early extinguishment of debt recognized as a component of interest expense	(11,159)	0
Asset Impairment	13,412	4,011
Deferred income tax expense (benefit)	8,952	(56,151)
Stock-based compensation	6,811	3,300
Loss (gain) on property disposals	2,715	(9,316)
Loan cost amortization	2,573	4,733
Accretion of discount related to Senior Notes	1,289	980
Loss (gain) on equity-method investments	(3)	328
Changes in operating assets and liabilities:
Trade accounts and other receivables	62,350	(54,971)
Inventories	146,189	(45,242)
Prepaid expenses and other current assets	(43,532)	(27,754)
Accounts payable, accrued expenses and other current liabilities	14,290	5,139
Income taxes	88,631	9,933
Long-term pension and other postretirement obligations	3,652	944
Other operating assets and liabilities	(19,273)	(16,246)
Cash provided by operating activities	989,656	89,341
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(213,247)	(286,630)
Proceeds from property disposals	4,551	15,008
Proceeds from insurance recoveries	0	20,681
Cash used in investing activities	(208,696)	(250,941)
Cash flows from financing activities:
Payments on revolving line of credit, long-term borrowings and finance lease obligations	(150,895)	(565,658)
Proceeds from revolving line of credit and long-term borrowings	0	1,078,032
Proceeds from contribution (payment of distribution) of capital under Tax Sharing Agreement between JBS USA Holdings and Pilgrim’s Pride Corporation	1,425	(1,592)
Payments on early extinguishment of debt	(200)	0
Payments of capitalized loan costs	(16)	(10,353)
Cash provided by (used in) financing activities	(149,686)	500,429
Effect of exchange rate changes on cash and cash equivalents	(28,371)	3,422
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents	602,903	342,251
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	731,223	434,759
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$ 1,334,126	$ 777,010

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Pilgrim’s Pride Corporation (referred to herein as “Pilgrim’s,” “PPC,” “the Company,” “we,” “us,” “our,” or similar terms) is one of the largest chicken producers in the world, with operations in the United States (“U.S.”), the United Kingdom (“U.K.”), Mexico, France, Puerto Rico, the Netherlands and the Republic of Ireland. Pilgrim’s products are sold to foodservice, retail and frozen entrée customers. The Company’s primary distribution is through retailers, foodservice distributors and restaurants throughout the countries listed above. Additionally, the Company exports chicken and pork products to over 110 countries. Our fresh products consist of refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs. The Company’s prepared products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meatballs. The Company’s other products include plant-based protein offerings, ready-to-eat meals, multi-protein frozen foods, vegetarian foods and desserts. The Company also provides direct-to-consumer meals and hot food to-go solutions in the U.K. and the Republic of Ireland. We operate feed mills, hatcheries, processing plants and distribution centers in the U.S., the U.K., Mexico, France, Puerto Rico, the Netherlands and the Republic of Ireland. As of June 30, 2024, Pilgrim’s had approximately 62,400 employees and had the capacity to process approximately 41.3 million birds per 5-day work week. Approximately 4,400 contract growers supply chicken for the Company’s operations. As of June 30, 2024, PPC had the capacity to process approximately 42,750 pigs per 5-day work week and 215 contract growers supply pigs for the Company’s U.K. operations. As of June 30, 2024, JBS S.A., through its indirect wholly-owned subsidiaries (collectively, “JBS”), beneficially owned 82.5% of the Company’s outstanding common stock. Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 29, 2024. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023. The Company operates on the basis of a 52/53 week fiscal year ending on the Sunday falling on or before December 31. Any reference we make to a particular year (for example, 2024) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The six months ended June 30, 2024 represents the period from January 1, 2024 through June 30, 2024. The six months ended June 25, 2023 represents the period from December 26, 2022 through June 25, 2023. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation. The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. GAAP using management’s best estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. Significant estimates made by the Company include the allowance for credit losses, reserves related to inventory obsolescence or valuation, useful lives of long-lived assets, goodwill, valuation of deferred tax assets, insurance accruals, valuation of pension and other postretirement benefits obligations, income tax accruals, certain derivative positions, certain litigation reserves and valuations of acquired businesses. The functional currency of the Company’s U.S. operations and certain holding-company subsidiaries in Luxembourg, the U.K., Malta and the Republic of Ireland is the U.S. dollar. The functional currency of its U.K. operations is the British pound. The functional currency of the Company’s operations in France, the Netherlands and the Republic of Ireland is the euro. The Company has determined that there was a significant change in economic factors that necessitated a reassessment of the appropriate functional currency of the Mexico reportable segment. The primary economic factors driving the change include 1) the recent sustained, historical strengthening of the Mexican peso against the U.S. dollar and against other global currencies without a correlated impact on the average product sales prices of our Mexico operations and 2) a shift in the proportional volume of spend we have that is denominated in Mexican peso in relation to spend that is denominated in U.S. dollar. As a result of this reassessment, on April 1, 2024, the Company changed the functional currency of its Mexico operations from U.S. dollar to the Mexican peso. The change in the functional currency was accounted for on April 1, 2024, and did not have a material impact on our consolidated financial statements. For foreign currency-denominated entities, including the Company’s Mexico operations after April 1, 2024, translation from local currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect as of the balance sheet date. Income and expense accounts are remeasured using average exchange rates for the period. Adjustments resulting from translation of these financial records are reflected as a separate component of Accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets. For the Company’s Mexico operations prior to April 1, 2024, remeasurement from the Mexican peso to U.S. dollars was performed for monetary assets and liabilities using the exchange rate in effect as of the balance sheet date. Remeasurement was performed for non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. Income and expense accounts were remeasured using average exchange rates for the period. Net adjustments that resulted from remeasurement of the financial records, as well as foreign currency transaction gains and losses, are reflected in Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income. Restricted Cash and Restricted Cash Equivalents The Company is required to maintain cash balances with brokers as collateral for exchange-traded futures contracts. These balances are classified as restricted cash as they are not available for use by the Company to fund daily operations. The balance of restricted cash and restricted cash equivalents may also include investments in U.S. Treasury Bills that qualify as restricted cash equivalents, as required by the brokers, to offset the obligation to return cash collateral. The following table reconciles cash, cash equivalents, restricted cash and restricted cash equivalents as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 30, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 1,317,087 $ 697,748 Restricted cash and restricted cash equivalents 17,039 33,475 Total cash, cash equivalents, restricted cash and restricted cash equivalents shown in the Condensed Consolidated Statements of Cash Flows $ 1,334,126 $ 731,223 Recent Accounting Pronouncements Not Yet Adopted as of June 30, 2024 In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires additional disclosures for reportable segments. The guidance requires disclosures about significant segment expenses that are regularly provided to the chief operating decision maker along with additional measures of segment profit that are regularly used by the chief operating decision maker in assessing segment performance and deciding how to allocate resources. The provisions of the new guidance will be effective for years beginning after December 15, 2023 and interim periods in fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance for the annual reporting period of the current fiscal year and is still assessing the impacts on our Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires additional disclosures for income taxes to enhance transparency and usefulness of income tax disclosures. The guidance requires additional disclosures for the tabular rate reconciliation, income taxes paid, and the disaggregation of domestic, federal and state, and foreign components within income (or loss) from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. The provisions of the new guidance will be effective for years beginning after December 15, 2024. The Company plans to adopt this guidance as it becomes effective and is assessing the impacts on our Consolidated Financial Statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The vast majority of the Company’s revenue is derived from contracts which are based upon a customer ordering our products. While there may be master agreements, the contract is only established when the customer’s order is accepted by the Company. The Company accounts for a contract, which may be verbal or written, when it is approved and committed by both parties, the rights of the parties are identified along with payment terms, the contract has commercial substance and collectability is probable. The Company evaluates the transaction for distinct performance obligations, which are the sale of its products to customers. Since its products are commodity market-priced, the sales price is representative of the observable, standalone selling price. Each performance obligation is recognized based upon a pattern of recognition that reflects the transfer of control to the customer at a point in time, which is upon destination (customer location or port of destination), which faithfully depicts the transfer of control and recognition of revenue. There are instances of customer pick-up at the Company’s facility, in which case control transfers to the customer at that point and the Company recognizes revenue. The Company’s performance obligations are typically fulfilled within days to weeks of the acceptance of the order. The Company makes judgments regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from revenue and cash flows with customers. Determination of a contract requires evaluation and judgment along with the estimation of the total contract value and if any of the contract value is constrained. Due to the nature of our business, there is minimal variable consideration, as the contract is established at the acceptance of the order from the customer. When applicable, variable consideration is estimated at contract inception and updated on a regular basis until the contract is completed. Allocating the transaction price to a specific performance obligation based upon the relative standalone selling prices includes estimating the standalone selling prices including discounts and variable consideration. 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. Contract Costs The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred. Taxes The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price. Contract Balances The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied. 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 Accounts Receivable

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company utilizes various raw materials in its operations, including corn, soybean meal, soybean oil, wheat, natural gas, electricity and diesel fuel, which are all considered commodities. The Company considers these raw materials generally available from a number of different sources and believes it can obtain them to meet its requirements. These commodities are subject to price fluctuations and related price risk due to factors beyond our control, such as economic and political conditions, supply and demand, weather, governmental regulation and other circumstances. Generally, the Company purchases derivative financial instruments, specifically exchange-traded futures and options, in an attempt to mitigate price risk related to its anticipated consumption of commodity inputs for approximately the next twelve months. The Company may purchase longer-term derivative financial instruments on particular commodities if deemed appropriate. The Company has operations in Mexico, the U.K., France, the Netherlands and the Republic of Ireland. Therefore, it has exposure to translational foreign exchange risk when the financial results of those operations are remeasured in U.S. dollars. The Company has purchased foreign currency forward contracts to manage a portion of this foreign exchange risk. The fair value of derivative assets is included in the line item Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets while the fair value of derivative liabilities is included in the line item Accrued expenses and other current liabilities on the same statements. The Company’s counterparties require that it post collateral for changes in the net fair value of the derivative contracts. This cash collateral is reported in the line item Restricted cash and restricted cash equivalents on the Condensed Consolidated Balance Sheets. Undesignated contracts may include contracts not designated as hedges or contracts that do not qualify for hedge accounting. The fair value of each of these derivatives is recognized in the Condensed Consolidated Balance Sheets within Prepaid expenses and other current assets or Accrued expenses and other current liabilities . Changes in fair value of each derivative are recognized immediately in the Condensed Consolidated Statements of Income within Net sales , Cost of sales , or Foreign currency transaction losses (gains) depending on the risk the derivative is intended to mitigate. While management believes these instruments help mitigate various market risks, they are not designated and accounted for as hedges as a result of the extensive record keeping requirements. The Company does not apply hedge accounting treatment to certain derivative financial instruments that it has purchased to mitigate commodity purchase exposures in the U.S. and Mexico or foreign currency transaction exposures on our Mexico operations. Therefore, the Company recognized changes in the fair value of these derivative financial instruments immediately in earnings. Gains or losses related to the commodity derivative financial instruments are included in the line item Cost of sales in the Condensed Consolidated Statements of Income. Realized gains and losses related to cash flows are disclosed in the Condensed Consolidated Statements of Cash Flows in Cash provided by operating activities. Unrealized gains and losses related to cash flows are disclosed in the Condensed Consolidated Statements of Cash Flows in the line item Other operating assets and liabilities. Gains or losses related to the foreign currency derivative financial instruments are included in the line item Foreign currency transaction losses (gains) in the Condensed Consolidated Statements of Income. The Company does apply hedge accounting treatment to certain derivative financial instruments related to its Europe reportable segment that it has purchased to mitigate foreign currency transaction exposures. Before the settlement date of the financial derivative instruments, the Company recognizes changes in the fair value of the cash flow hedge into accumulated other comprehensive income (“AOCI”). When the derivative financial instruments are settled, the amount in AOCI is then reclassified to earnings. Gains or losses related to these derivative financial instruments are included in the line item Net sales and Cost of sales in the Condensed Consolidated Statements of Income. We have generally applied the normal purchase and normal sale scope exception (“NPNS”) to our forward physical grain purchase contracts delivered by truck and to our forward physical natural gas and solar-generated power purchase contracts. NPNS contracts are accounted for using the accrual method of accounting; therefore, amounts payable under these contracts are recorded when we take delivery of the contracted product and no amounts were recorded for the fair value of these contracts in the condensed consolidated financial statements at June 30, 2024 and December 31, 2023. Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table: June 30, 2024 December 31, 2023 (In thousands) Fair values: Commodity derivative assets $ 5,176 $ 1,202 Commodity derivative liabilities (16,594) (17,118) Foreign currency derivative assets 223 175 Foreign currency derivative liabilities (826) (723) Sales contract derivative assets 4,493 960 Cash collateral posted with brokers (a) 17,039 33,475 Derivatives coverage (b) : Corn 12.1 % 10.9 % Soybean meal 17.5 % 39.6 % Period through which stated percent of needs are covered: Corn July 2025 July 2024 Soybean meal March 2025 March 2024 (a) Collateral posted with brokers consists primarily of cash, short-term treasury bills or other cash equivalents. (b) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date. The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments: Three Months Ended Six Months Ended Gains (Losses) by Type of Contract (a) June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 Affected Line Item in the Condensed Consolidated Statements of Income (In thousands) Foreign currency derivatives loss $ — $ (28,551) $ — $ (47,654) Foreign currency transaction losses Commodity derivative gain (loss) (6,146) 188 (16,194) (16,347) Cost of sales Sales contract derivative gain (loss) 1,438 (1,637) 3,533 2,528 Net sales Total $ (4,708) $ (30,000) $ (12,661) $ (61,473) (a) Amounts represent income (expenses) related to results of operations. The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges: Gains (Losses) Recognized in Other Comprehensive Income Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Foreign currency derivative gains (losses) $ 1,545 $ 16 $ 2,000 $ (1,648) Gains (Losses) Reclassified from AOCI into Income Three Months Ended June 30, 2024 Three Months Ended June 25, 2023 Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) (In thousands) Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded $ 4,559,314 $ 3,867,688 $ 31,201 $ 4,308,091 $ 4,029,666 $ 47,152 Impact from cash flow hedging instruments: Foreign currency derivatives 915 (105) — 120 56 — (a) Amounts represent income (expenses) related to net sales. (b) Amounts represent expenses (income) related to cost of sales and interest expense. Gains (Losses) Reclassified from AOCI into Income Six Months Ended June 30, 2024 Six Months Ended June 25, 2023 Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) (In thousands) Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded $ 8,921,248 $ 7,845,713 $ 72,444 $ 8,473,719 $ 8,022,247 $ 89,814 Impact from cash flow hedging instruments: Foreign currency derivatives 1,956 (105) — 335 (14) — (a) Amounts represent income (expenses) related to net sales. (b) Amounts represent expenses (income) related to cost of sales and interest expense.

TRADE ACCOUNTS AND OTHER RECEIV

TRADE ACCOUNTS AND OTHER RECEIVABLES	6 Months Ended
	Jun. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
TRADE ACCOUNTS AND OTHER RECEIVABLES	TRADE ACCOUNTS AND OTHER RECEIVABLES Trade accounts and other receivables, less allowance for credit losses, consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Trade accounts receivable $ 1,012,963 $ 1,027,916 Notes receivable from third parties 13,065 51,168 Other receivables 27,409 59,435 Receivables, gross 1,053,437 1,138,519 Allowance for credit losses (7,577) (9,341) Receivables, net $ 1,045,860 $ 1,129,178 Accounts receivable from related parties (a) $ 2,055 $ 1,778 (a) Additional information regarding accounts receivable from related parties is included in “Note 17. Related Party Transactions.” Activity in the allowance for credit losses was as follows: Six Months Ended June 30, 2024 (In thousands) Balance, beginning of period $ (9,341) Provision released to operating results 1,492 Account write-offs and recoveries 36 Effect of exchange rate 236 Balance, end of period $ (7,577) In June 2023, the Company and JBS USA Food Company (“JBS USA”) jointly entered into a receivables purchase agreement with a bank for an uncommitted facility with a maximum capacity of $415.0 million and no recourse to the Company or JBS USA. Under the facility, the Company may sell eligible trade receivables in exchange for cash. Transfers under the agreement are recorded as a sale under ASC 860, Broad Transactions – Transfers and Servicing . At the transfer date, the Company receives cash equal to the face value of the receivables sold less a fee based on the current Secured Overnight Financing Rate (“SOFR”) plus an applicable margin applied over the customer payment term. The fees are immaterial.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Raw materials and work-in-process $ 1,060,418 $ 1,158,467 Finished products 564,017 642,028 Operating supplies 71,293 75,530 Maintenance materials and parts 110,516 109,374 Total inventories $ 1,806,244 $ 1,985,399

INVESTMENTS IN SECURITIES

INVESTMENTS IN SECURITIES	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN SECURITIES	INVESTMENTS IN SECURITIES The Company recognizes investments in available-for-sale securities as cash equivalents, current investments or long-term investments depending upon each security’s length to maturity. The following table summarizes our investments in available-for-sale securities: June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value (In thousands) Cash equivalents: Fixed income securities $ 1,232,700 $ 1,232,893 $ 324,808 $ 324,947 Interest income and gross realized gains during the three and six months ended June 30, 2024 related to the Company’s available-for-sale securities were $13.1 million and $21.1 million, while interest income and gross realized gains during the three and six months ended June 25, 2023 were $4.4 million and $6.3 million. Proceeds received from the sale or maturity of available-for-sale securities investments are historically disclosed in the Condensed Consolidated Statements of Cash Flows. Net unrealized holding gains and losses on the Company’s available-for-sale securities recognized during the six months ended June 30, 2024 and June 25, 2023 that have been included in AOCI and the net amount of gains and losses reclassified out of AOCI to earnings during the six months ended June 30, 2024 and June 25, 2023 are disclosed in “Note 13. Stockholders’ Equity.”

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The activity in goodwill by segment for the six months ended June 30, 2024 was as follows: December 31, 2023 Currency Translation June 30, 2024 (In thousands) U.S. $ 41,936 $ — $ 41,936 Europe 1,116,521 (10,610) 1,105,911 Mexico 127,804 (17,366) 110,438 Total $ 1,286,261 $ (27,976) $ 1,258,285 Intangible assets consisted of the following: December 31, 2023 Amortization Currency Translation June 30, 2024 (In thousands) Cost: Trade names not subject to amortization $ 580,473 $ — $ (6,413) $ 574,060 Trade names subject to amortization 112,681 — (367) 112,314 Customer relationships 441,719 — (5,805) 435,914 Accumulated amortization: Trade names (57,762) (1,938) 52 (59,648) Customer relationships (223,128) (14,192) 3,582 (233,738) Intangible assets, net $ 853,983 $ (16,130) $ (8,951) $ 828,902 Intangible assets are amortized over the estimated useful lives of the assets as follows: Customer relationships 3-18 years Trade names subject to amortization 15-20 years At June 30, 2024, the Company assessed if events or changes in circumstances indicated that any asset group-level carrying amounts of its goodwill and intangible assets might not be recoverable. There were no indicators present that required the Company to test the recoverability of the asset group-level carrying amounts of its goodwill or intangible assets at that date. The Company will perform its annual tests of recoverability of goodwill and trade names not subject to amortization in the fourth quarter of 2024, which if there were to be an impairment could be material.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment (“PP&E”), net consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Land $ 269,788 $ 273,846 Buildings 2,182,470 2,170,716 Machinery and equipment 4,043,853 3,953,008 Autos and trucks 97,873 93,858 Finance lease assets 4,736 5,550 Construction-in-progress 377,021 458,146 PP&E, gross 6,975,741 6,955,124 Accumulated depreciation (3,852,713) (3,796,721) PP&E, net $ 3,123,028 $ 3,158,403 The Company recognized depreciation expense of $99.9 million and $96.4 million during the three months ended June 30, 2024 and June 25, 2023, respectively. The Company recognized depreciation expense of $195.2 million and $186.4 million during the six months ended June 30, 2024 and June 25, 2023, respectively. During the six months ended June 30, 2024, the Company incurred $200.0 million on capital projects and transferred $278.7 million of completed projects from construction-in-progress to depreciable assets. During the six months ended June 25, 2023, the Company spent $286.6 million on capital projects and transferred $174.5 million of completed projects from construction-in-progress to depreciable assets. Capital expenditures in accounts payable and accrued expenses for the periods ended June 30, 2024 and December 31, 2023 were $33.7 million and $46.9 million, respectively. During the three and six months ended June 30, 2024, the Company sold certain PP&E for $2.3 million and $4.6 million, respectively, in cash and recognized a net loss of $0.9 million and $2.7 million, respectively, on these sales. During the three and six months ended June 25, 2023, the Company sold certain PP&E for $2.4 million and $15.0 million, respectively, in cash and recognized a net immaterial loss and a net gain of $9.3 million, respectively, on these sales. The Company has closed or idled various facilities in the U.S. and in the U.K. The Board of Directors has not determined if it would be in the best interest of the Company to divest any of these idled assets. Management is therefore not certain that it can or will divest any of these assets within one year, is not actively marketing these assets and, accordingly, has not classified them as assets held for sale. The Company continues to depreciate these assets. As of June 30, 2024, the carrying amounts of these idled assets totaled $56.1 million based on depreciable value of $208.5 million and accumulated depreciation of $152.4 million. Idled asset values include those assets that are no longer in use as a result of the recent restructuring activities of our Europe reportable segment. During the six months ended June 30, 2024, the Company recognized an additional impairment loss on PP&E of $13.4 million incurred as a result of those restructuring activities. Additional information regarding restructuring activities is included in “Note 16. Restructuring-Related Activities.” As of June 30, 2024, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts of its PP&E held for use might not be recoverable. There were no indicators present that required the Company to test the recoverability of the asset group-level carrying amounts of its PP&E held for use at that date.

CURRENT LIABILITIES

CURRENT LIABILITIES	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
CURRENT LIABILITIES	CURRENT LIABILITIES Current liabilities, other than income taxes and current maturities of long-term debt, consisted of the following components: June 30, 2024 December 31, 2023 (In thousands) Accounts payable: Trade accounts payable $ 1,211,673 $ 1,294,830 Book overdrafts 95,353 90,612 Other payables 30,665 25,134 Total accounts payable 1,337,691 1,410,576 Accounts payable to related parties (a) 23,331 41,254 Revenue contract liabilities (b) 67,176 84,958 Accrued expenses and other current liabilities: Compensation and benefits 266,223 249,474 Litigation settlements (c) 145,430 73,330 Accrued sales rebates 116,575 104,390 Insurance and self-insured claims 88,259 76,287 Current maturities of operating lease liabilities 62,621 67,440 Interest and debt-related fees 53,549 71,508 Taxes 45,558 37,635 Derivative liabilities (d) 17,419 17,841 Other accrued expenses 203,441 228,822 Total accrued expenses and other current liabilities 999,075 926,727 Total $ 2,427,273 $ 2,463,515 (a) Additional information regarding accounts payable to related parties is included in “Note 17. Related Party Transactions.” (b) Additional information regarding revenue contract liabilities is included in “Note 2. Revenue Recognition.” (c) Additional information regarding litigation settlements is included in “Note 19. Commitments and Contingencies.” (d) Additional information regarding derivative liabilities is included in “Note 3. Derivative Financial Instruments.”

SUPPLIER FINANCE PROGRAMS

SUPPLIER FINANCE PROGRAMS	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLIER FINANCE PROGRAMS	SUPPLIER FINANCE PROGRAMS The Company maintains supplier finance programs, under which we agree to pay for confirmed invoices from participating suppliers to a financing entity. Maturity dates are generally between 65-120 days and we pay either the supplier or the financing entity depending on the supplier’s election. As of June 30, 2024 and December 31, 2023, the outstanding balance of confirmed invoices was $204.0 million and $192.7 million, respectively, and are included in Accounts payable in the Condensed Consolidated Balance Sheets.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $152.7 million, a 23.3% effective tax rate, for the six months ended June 30, 2024 compared to an income tax benefit of $24.1 million, a (56.7)% effective tax rate, for the six months ended June 25, 2023. The change from an income tax benefit to income tax expense in 2024 resulted primarily from the increase of profit before income taxes, the statutory reporting adjustment on prior year deferred tax assets in a corporate legal entity, and the intercompany dividend distributions from the Company’s Mexico reportable segment to the U.S. reportable segment. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income and tax-planning strategies in making this assessment. As of June 30, 2024, the Company did not believe it had sufficient positive evidence to conclude that a portion of its foreign net deferred tax assets are more likely than not to be realized. For the six months ended June 30, 2024 and June 25, 2023, there is a tax effect of $(2.1) million and $(3.2) million, respectively, reflected in other comprehensive income. For the six months ended June 30, 2024 and June 25, 2023, there are immaterial tax effects reflected in income tax expense (benefit) due to excess tax windfalls and shortfalls related to stock-based compensation. The Company operates in the U.S. (including multiple state jurisdictions), Puerto Rico and several foreign locations including Mexico, the U.K., the Republic of Ireland, and continental Europe. With a few exceptions, the Company is no longer subject to examinations by taxing authorities for years prior to 2019 in U.S. federal, state and local jurisdictions, for years prior to 2010 in Mexico, and for years prior to 2017 in the U.K.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components: Maturity June 30, 2024 December 31, 2023 (In thousands) Senior notes payable, net of discount, at 6.875% 2034 $ 490,868 $ 490,408 Senior notes payable, net of discount, at 6.25% 2033 974,052 993,595 Senior notes payable at 3.50% 2032 900,000 900,000 Senior notes payable, net of discount, at 4.25% 2031 850,593 992,711 U.S. Credit Facility (defined below) at SOFR plus 1.35% 2028 — — Europe Credit Facility (defined below) with notes payable at SONIA plus 1.25% 2027 — — Mexico Credit Facility (defined below) with notes payable at TIIE plus 1.35% 2026 — — Finance lease obligations Various 2,103 2,486 Long-term debt 3,217,616 3,379,200 Less: Current maturities of long-term debt (585) (674) Long-term debt, less current maturities 3,217,031 3,378,526 Less: Capitalized financing costs (33,936) (37,685) Long-term debt, less current maturities, net of capitalized financing costs $ 3,183,095 $ 3,340,841 Bond Repurchase Program On May 1, 2024, the Board approved a bond repurchase program which authorizes the Company to repurchase up to an aggregate $200.0 million of the Company’s outstanding senior notes. During the three months ended June 30, 2024, the Company repurchased $143.6 million of outstanding principal of the Senior Notes due 2031 and $20.0 million of outstanding principal of the Senior Notes due 2033, resulting in gross realized gains of $13.7 million. The gross realized gains on early extinguishment of debt are recognized as a reduction in interest expense. The original discount and capitalized financing costs of $1.1 million and $1.2 million associated with the amounts repurchased, respectively, are partially offsetting the gross gains on early extinguishment of debt, along with a nominal amount of transaction fees. U.S. Credit Facility On October 4, 2023, the Company and certain of the Company’s subsidiaries entered into a Revolving Syndicated Facility Agreement (the “U.S. Credit Facility”) with CoBank, ACB as administrative agent and the other lenders party thereto. The U.S. Credit Facility provides for a revolving loan commitment of up to $850.0 million. The loan commitment matures on October 4, 2028. The U.S. Credit Facility is unsecured and will be used for general corporate purposes. Outstanding borrowings under the U.S. Credit Facility bear interest at a per annum rate equal to either the Secured Overnight Financing Rate (“SOFR”) or the prime rate plus applicable margins based on the Company’s credit ratings. As of June 30, 2024, the Company had outstanding letters of credit and available borrowings under the revolving credit commitment of $24.8 million and $825.2 million, respectively, and there were no outstanding borrowings under this agreement. The U.S. Credit Facility requires customary financial and other covenants for transactions of this type, including limitations on 1) liens, 2) indebtedness, 3) sales and other dispositions of assets, 4) dividends, distributions, and other payments in respect of equity interest, 5) investments, and 6) voluntary prepayments, redemptions or repurchases of junior debt. In each case, clauses 1 to 6 are subject to certain exceptions which can be material and certain of such clauses only apply to the Company upon the occurrence of certain triggering events. The Company is currently in compliance with the covenants under the U.S. Credit Facility. Europe Credit Facility On June 24, 2022, Moy Park Holdings (Europe) Ltd. (“MPH(E)”) and other Pilgrim’s entities located in the U.K. and Republic of Ireland entered into an unsecured multicurrency revolving facility agreement (the “Europe Credit Facility”) with the Governor and Company of the Bank of Ireland, as agent, and the other lenders party thereto. The Europe Credit Facility provides for a multicurrency revolving loan commitment of up to £150.0 million. The loan commitment matures on June 24, 2027. Outstanding borrowings bear interest at the current Sterling Overnight Index Average (“SONIA”) interest rate plus 1.25%. All obligations under this agreement are guaranteed by certain of the Company’s subsidiaries. As of June 30, 2024, both the U.S. dollar-equivalent loan commitment and borrowing availability were $189.7 million and there were no outstanding borrowings under this agreement. The Europe Credit Facility contains representations and warranties, covenants, indemnities and conditions, in each case, that the Company believes are customary for transactions of this type. Pursuant to the terms of the agreement, the Company is required to meet certain financial and other restrictive covenants. Additionally, the Company is prohibited from taking certain actions without consent of the lenders, including, without limitation, incurring additional indebtedness, entering into certain mergers or other business combination transactions, permitting liens or other encumbrances on its assets and making restricted payments, including dividends, in each case, except as expressly permitted under the Europe Credit Facility. The Company is currently in compliance with the covenants under the Europe Credit Facility. Mexico Credit Facility On August 15, 2023, certain of the Company’s Mexican subsidiaries entered into an unsecured credit agreement (the “Mexico Credit Facility”) with BBVA México as lender. The loan commitment under the Mexico Credit Facility is Mex$1.1 billion and can be borrowed on a revolving basis. Outstanding borrowings under the Mexico Credit Facility accrue interest at a rate equal to The Interbank Equilibrium Interest (“TIIE”) rate plus 1.35%. The Mexico Credit Facility contains covenants and defaults that the Company believes are customary for transactions of this type. The Mexico Credit Facility will be used for general corporate and working capital purposes. The Mexico Credit Facility will mature on August 15, 2026. As of June 30, 2024, the U.S. dollar-equivalent of the loan commitment and borrowing availability was $60.6 million. As of June 30, 2024, there were no outstanding borrowings under the Mexico Credit Facility. The Company is currently in compliance with the covenants under the Mexico Credit Facility.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS ’ EQUITY Accumulated Other Comprehensive Income (Loss) The following tables provide information regarding the changes in accumulated other comprehensive loss: Six Months Ended June 30, 2024 Losses Related to Foreign Currency Translation Losses on Derivative Financial Instruments Classified as Cash Flow Hedges Losses Related to Pension and Other Postretirement Benefits Losses on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (114,850) $ (1,914) $ (59,714) $ (5) $ (176,483) Other comprehensive income (loss) before reclassifications (114,136) 2,000 5,692 115 (106,329) Amounts reclassified from accumulated other comprehensive loss (gain) to net income — (2,061) 261 (177) (1,977) Currency translation — 7 392 — 399 Net current period other comprehensive income (loss) (114,136) (54) 6,345 (62) (107,907) Balance, end of period $ (228,986) $ (1,968) $ (53,369) $ (67) $ (284,390) Six Months Ended June 25, 2023 Losses Related to Foreign Currency Translation Losses on Derivative Financial Instruments Classified as Cash Flow Hedges Losses Related to Pension and Other Postretirement Benefits Losses on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (269,825) $ (1,162) $ (65,447) $ (14) $ (336,448) Other comprehensive income (loss) before reclassifications 143,925 (1,648) 7,207 (41) 149,443 Amounts reclassified from accumulated other comprehensive loss (gain) to net income — (349) 342 22 15 Currency translation — (11) (341) — (352) Net current period other comprehensive income (loss) 143,925 (2,008) 7,208 (19) 149,106 Balance, end of period $ (125,900) $ (3,170) $ (58,239) $ (33) $ (187,342) Amount Reclassified from Accumulated Other Comprehensive Loss (a) Details about Accumulated Other Comprehensive Loss Components Six Months Ended June 30, 2024 Six Months Ended June 25, 2023 Affected Line Item in the Condensed Consolidated Statements of Income (In thousands) Realized gains on settlement of foreign currency derivatives classified as cash flow hedges $ 1,956 $ 335 Net sales Realized gains on settlement of foreign currency derivatives classified as cash flow hedges 105 14 Cost of sales Realized gains (losses) on sale of securities 234 (29) Interest income Amortization of pension and other postretirement plan actuarial losses (b) (344) (448) Miscellaneous, net Total before tax 1,951 (128) Tax benefit 26 113 Total reclassification for the period $ 1,977 $ (15) (a) Positive amounts represent income to the results of operations while amounts in parentheses represent expenses to the results of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 14. Pension and Other Postretirement Benefits.” Preferred Stock The Company has authorized 50,000,000 shares of $0.01 par value preferred stock, although no shares have been issued and no shares are outstanding. Restrictions on Dividends The U.S. Credit Facility and the indentures governing the Company’s senior notes may restrict the Company from declaring dividends. Additionally, the Europe Credit Facility may restrict MPH(E) and other Pilgrim’s entities located in the U.K. and Republic of Ireland to, among other things, make payments and distributions to the Company.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS The Company sponsors programs that provide retirement benefits to most of its employees. These programs include qualified defined benefit pension plans such as the Pilgrim’s Pride Retirement Plan for Union Employees, the Pilgrim’s Pride Pension Plan for Legacy Gold Kist Employees, the Tulip Limited Pension Plan and the Geo Adams Group Pension Fund, nonqualified defined benefit retirement plans, a defined benefit postretirement life insurance plan and defined contribution retirement savings plan. Expenses recognized under all retirement plans totaled $7.4 million and $7.8 million in the three months ended June 30, 2024 and June 25, 2023, respectively, and $18.6 million and $15.4 million in the six months ended June 30, 2024 and June 25, 2023, respectively. Defined Benefit Plans Obligations and Assets The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Condensed Consolidated Balance Sheets for the defined benefit plans were as follows: Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Change in projected benefit obligation Projected benefit obligation, beginning of period $ 237,508 $ 1,160 $ 236,147 $ 1,169 Interest cost 4,949 22 5,097 22 Actuarial gain (10,243) (19) (11,029) (8) Benefits paid (7,273) (78) (7,437) (73) Currency translation loss (gain) (7) — 3,018 — Projected benefit obligation, end of period $ 224,934 $ 1,085 $ 225,796 $ 1,110 Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Change in plan assets Fair value of plan assets, beginning of period $ 225,451 $ — $ 210,133 $ — Actual return on plan assets 2,931 — 3,972 — Contributions by employer 3,431 78 3,249 73 Benefits paid (7,273) (78) (7,437) (73) Expenses paid from assets (192) — (146) — Currency translation gain 50 — 2,700 — Fair value of plan assets, end of period $ 224,398 $ — $ 212,471 $ — June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Funded status Unfunded benefit obligation, end of period $ (536) $ (1,085) $ (12,057) $ (1,160) June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Amounts recognized in the Condensed Consolidated Balance Sheets at end of period Noncurrent asset $ 1,593 $ — $ — $ — Current liability (237) (187) (7,717) (187) Long-term liability (1,892) (898) (4,340) (973) Net financial position $ (536) $ (1,085) $ (12,057) $ (1,160) June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Amounts recognized in accumulated other comprehensive loss at end of period Net actuarial loss (gain) $ 31,779 $ (106) $ 40,487 $ (87) The accumulated benefit obligation for the Company’s defined benefit pension plans was $224.9 million and $237.5 million at June 30, 2024 and December 31, 2023, respectively. Net Periodic Benefit Costs Net defined benefit pension and other postretirement costs included the following components: Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Interest cost $ 2,683 $ 13 $ 2,783 $ 13 $ 4,949 $ 22 $ 5,097 $ 22 Estimated return on plan assets (2,756) — (2,531) — (5,203) — (4,753) — Expenses paid from assets 132 — 52 — 192 — 146 — Amortization of net loss 199 — 261 — 335 — 440 — Amortization of past service cost 5 — 4 — 9 — 8 — Net costs (a) $ 263 $ 13 $ 569 $ 13 $ 282 $ 22 $ 938 $ 22 (a) Net costs are included in the line item Miscellaneous, net on the Condensed Consolidated Statements of Income. Economic Assumptions The weighted average assumptions used in determining pension and other postretirement plan information were as follows: June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure benefit obligation at end of period Discount rate 5.34 % 5.47 % 4.81 % 5.06 % Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure net pension and other postretirement cost Discount rate 4.84 % 5.06 % 5.05 % 5.16 % Expected return on plan assets 5.07 % N/A 4.98 % N/A Unrecognized Benefit Amounts in Accumulated Other Comprehensive Loss The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows: Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Net actuarial loss (gain), beginning of period $ 40,487 $ (87) $ 48,121 $ (66) Amortization (344) — (448) — Actuarial gain (10,244) (19) (11,029) (8) Asset loss 2,271 — 781 — Currency translation loss (gain) (391) — 306 — Net actuarial loss (gain), end of period $ 31,779 $ (106) $ 37,731 $ (74) Remeasurement The Company remeasures both plan assets and obligations on a quarterly basis. Defined Contribution Plans

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities measured at fair value must be categorized into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation: Level 1 Unadjusted quoted prices available in active markets for identical assets or liabilities at the measurement date; Level 2 Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or Level 3 Unobservable inputs, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety. As of June 30, 2024 and December 31, 2023, the Company held fixed income securities, derivative assets and derivative liabilities that were required to be measured at fair value on a recurring basis. Fixed income securities consist of investments, such as money market funds and commercial paper. Derivative assets and liabilities consist of long and short positions on exchange-traded commodity futures instruments, commodity options instruments, sales contracts instruments, foreign currency instruments to manage translation and remeasurement risk. The following items were measured at fair value on a recurring basis: June 30, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (In thousands) Assets: Fixed income securities $ 1,232,893 $ — $ 1,232,893 $ 324,947 $ — $ 324,947 Commodity derivative assets 5,176 — 5,176 1,202 — 1,202 Foreign currency derivative assets 223 — 223 175 — 175 Sales contract derivative assets — 4,493 4,493 — 960 960 Liabilities: Commodity derivative liabilities (16,594) — (16,594) (17,118) — (17,118) Foreign currency derivative liabilities (826) — (826) (723) — (723) See “Note 3. Derivative Financial Instruments” for additional information. The valuation of financial assets and liabilities classified in Level 1 is based upon unadjusted quoted prices for identical assets or liabilities in active markets. The valuation of financial assets and liabilities in Level 2 is determined using a market approach based upon quoted prices for similar assets and liabilities in active markets or other inputs that are observable for substantially the full term of the financial instrument. The valuation of financial assets in Level 3 is determined using an income approach based on unobservable inputs such as discounted cash flow models or valuations. For each class of assets and liabilities not measured at fair value in the Condensed Consolidated Balance Sheets but for which fair value is disclosed, the Company is not required to provide the quantitative disclosure about significant unobservable inputs used in fair value measurements categorized within Level 3 of the fair value hierarchy. In addition to the fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require interim disclosures regarding the fair value of all of the Company’s financial instruments. The methods and significant assumptions used to estimate the fair value of financial instruments and any changes in methods or significant assumptions from prior periods are also required to be disclosed. The carrying amounts and estimated fair values of our debt obligations recorded in the Condensed Consolidated Balance Sheets consisted of the following: June 30, 2024 December 31, 2023 Carrying Amount Fair Carrying Amount Fair (In thousands) Fixed-rate senior notes payable at 3.50%, at Level 2 inputs $ (900,000) $ (761,616) $ (900,000) $ (760,203) Fixed-rate senior notes payable at 4.25%, at Level 2 inputs (850,593) (779,956) (992,711) (902,650) Fixed-rate senior notes payable at 6.25%, at Level 2 inputs (974,052) (994,896) (993,595) (1,029,020) Fixed-rate senior notes payable at 6.875%, at Level 2 inputs (490,868) (530,400) (490,408) (540,230) See “Note 12. Debt” for additional information. The carrying amounts of our cash and cash equivalents, restricted cash and restricted cash equivalents, accounts receivable, accounts payable and certain other liabilities approximate their fair values due to their relatively short maturities. Derivative assets were recorded at fair value based on quoted market prices and are included in the line item Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. Derivative liabilities were recorded at fair value based on quoted market prices and are included in the line item Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The fair value of the Company’s Level 2 fixed-rate debt obligations was based on the quoted market price at June 30, 2024 or December 31, 2023, as applicable. In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records certain assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges when required by U.S. GAAP. There were no significant fair value measurement losses recognized for such assets and liabilities in the periods reported.

RESTRUCTURING-RELATED ACTIVITIE

RESTRUCTURING-RELATED ACTIVITIES	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING-RELATED ACTIVITIES	RESTRUCTURING-RELATED ACTIVITIES In 2022, the Company began restructuring initiatives in its Europe reportable segment. Additional restructuring initiatives also commenced in 2023 and 2024. The purpose of our ongoing restructuring activities is to integrate central operations and reallocate processing capacities between production facilities resulting in closures of some facilities in the Europe reportable segment. The following table provides a summary of our estimates of timelines and costs associated with these restructuring initiatives by major type of cost: Moy Park Pilgrim’s Pride Ltd. Pilgrim’s Food Masters 2022 Pilgrim’s Food Masters 2023 Pilgrim’s Food Masters 2024 Pilgrim’s Europe Central Total (In thousands) Earliest implementation date October 2022 November 2022 December 2022 October 2023 April 2024 January 2024 Expected predominant completion date June 2023 July 2023 July 2023 March 2024 December 2024 December 2024 Costs incurred and expected to be incurred: Employee-related costs $ 11,103 $ 20,444 $ 14,490 $ 3,027 $ 30,052 $ 25,197 $ 104,313 Asset impairment costs 3,476 7,111 4,141 — 4,477 1,824 21,029 Contract termination costs 248 263 — — 548 — 1,059 Other exit and disposal costs (a) 6,245 5,344 6,330 — 2,404 658 20,981 Total exit and disposal costs (b) $ 21,072 $ 33,162 $ 24,961 $ 3,027 $ 37,481 $ 27,679 $ 147,382 Costs incurred since earliest implementation date: Employee-related costs $ 11,103 $ 20,444 $ 14,490 $ 3,027 $ 12,223 $ 21,779 $ 83,066 Asset impairment costs 3,476 7,111 4,141 — 4,477 1,824 21,029 Contract termination costs 248 263 — — 548 — 1,059 Other exit and disposal costs (a) 6,245 5,344 6,330 — 2,404 569 20,892 Total exit and disposal costs $ 21,072 $ 33,162 $ 24,961 $ 3,027 $ 19,652 $ 24,172 $ 126,046 (a) Comprised of other costs directly related to the restructuring initiatives including Moy Park flock depletion, the write-off of Pilgrim’s Pride Ltd. prepaid maintenance costs and Pilgrim’s Food Masters consulting fees. (b) All costs, except for asset impairment costs, are estimated to result in cash outlays. During the six months ended June 30, 2024, the Company recognized the following expenses and paid the following cash related to each restructuring initiative: Expenses Cash Outlays (In thousands) Moy Park $ — $ 659 Pilgrim’s Pride Ltd. 7,410 704 Pilgrim’s Food Masters 2022 — 1,625 Pilgrim’s Food Masters 2023 — 2,140 Pilgrim’s Food Masters 2024 19,652 4,925 Pilgrim’s Europe Central 24,172 19,483 Total $ 51,234 $ 29,536 These expenses are reported in the line item Restructuring activities on the Condensed Consolidated Statements of Income. The following table reconciles liabilities and reserves associated with each restructuring initiative from its respective inception to June 30, 2024 . Ending liability balances for employee termination benefits and other charges are reported in the line item Accrued expenses and other current liabilities in our Condensed Consolidated Balance Sheets. The ending reserve balance for inventory adjustments is reported in the line item Inventories in our Condensed Consolidated Balance Sheets. The ending reserve balance for asset impairments is reported in the line item Property, plant and equipment, net in our Condensed Consolidated Balance Sheets. Moy Park Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Other charges $ 2,644 $ — $ (659) $ (21) $ 1,964 Contract termination 144 — — (1) 143 Total $ 2,788 $ — $ (659) $ (22) $ 2,107 Pilgrim’s Pride Ltd. Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ 35 $ (35) $ — $ — $ — Severance 734 380 (550) (4) 560 Asset impairment — 7,111 (7,111) — — Inventory adjustments 294 141 (432) (3) — Lease termination 164 372 (93) — 443 Other charges 752 (559) (61) (8) 124 Total $ 1,979 $ 7,410 $ (8,247) $ (15) $ 1,127 Pilgrim’s Food Masters 2022 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Severance $ 1,281 $ — $ (1,276) $ (5) $ — Inventory adjustments 65 — (63) (2) — Lease termination 1,289 — (1,284) (5) — Other charges 685 — (349) (3) 333 Total $ 3,320 $ — $ (2,972) $ (15) $ 333 Pilgrim’s Food Masters 2023 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ 522 $ — $ (517) $ (5) $ — Severance 1,636 — (1,623) (13) — Total $ 2,158 $ — $ (2,140) $ (18) $ — Pilgrim’s Food Masters 2024 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ — $ 212 $ — $ — $ 212 Severance — 12,011 (3,949) 16 8,078 Asset impairment — 4,477 (4,477) — — Lease termination — 548 (548) — — Other charges — 2,404 (976) 3 1,431 Total $ — $ 19,652 $ (9,950) $ 19 $ 9,721 Pilgrim’s Europe Central Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ — $ 12 $ (12) $ — $ — Severance — 21,767 (18,914) (121) 2,732 Asset impairment — 1,824 (1,824) — — Lease termination — 8 (8) — — Other charges — 561 (557) (4) — Total $ — $ 24,172 $ (21,315) $ (125) $ 2,732

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies. Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Sales to related parties JBS USA Food Company (a) $ 8,263 $ 9,012 $ 13,637 $ 16,524 JBS Chile Ltd. 759 182 1,946 1,128 Other related parties 509 1,355 1,079 2,233 Total 9,531 $ 10,549 $ 16,662 $ 19,885 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Cost of goods purchased from related parties JBS USA Food Company (a) $ 41,862 $ 78,509 $ 82,186 $ 128,414 Seara Meat B.V. 4,873 4,638 10,268 9,638 Penasul UK LTD 2,970 4,103 6,500 8,290 Other related parties 1,963 1,720 3,323 3,527 Total $ 51,668 $ 88,970 $ 102,277 $ 149,869 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Expenditures paid by related parties JBS USA Food Company (b) $ 24,916 $ 46,104 $ 42,687 $ 60,127 Other related parties — 15 — 15 Total $ 24,916 $ 46,119 $ 42,687 $ 60,142 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Expenditures paid on behalf of related parties JBS USA Food Company (b) $ 4,563 $ 9,540 $ 7,252 $ 12,919 Other related parties — — — 5 Total $ 4,563 $ 9,540 $ 7,252 $ 12,924 June 30, 2024 December 31, 2023 (In thousands) Accounts receivable from related parties JBS USA Food Company (a) $ 1,541 $ 967 JBS Chile Ltda. 379 — Other related parties 135 811 Total $ 2,055 $ 1,778 June 30, 2024 December 31, 2023 (In thousands) Accounts payable to related parties JBS USA Food Company (a) $ 14,320 $ 34,038 Seara Meats B.V. 5,204 2,252 JBS Asia Co Limited 2,454 2,254 Other related parties 1,353 2,710 Total $ 23,331 $ 41,254 (a) The Company routinely executes transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of June 30, 2024, goods purchased and in transit from JBS USA were immaterial and not reflected on our Consolidated Balance Sheets. (b) The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for both companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. This agreement expires on December 31, 2025.

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company operates in three reportable segments: U.S., Europe (formerly known as “U.K. and Europe”), and Mexico. The Company measures segment profit as operating income. Corporate expenses are allocated to the Mexico and Europe reportable segments based upon various apportionment methods for specific expenditures incurred related thereto with the remaining amounts allocated to the U.S. reportable segment. We conduct separate operations in the continental U.S. and in Puerto Rico. For segment reporting purposes, the Puerto Rico operations are included in the U.S. reportable segment. The chicken products processed by the U.S. reportable segment are sold to foodservice, retail and frozen entrée customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants. The Europe reportable segment processes primarily fresh chicken, pork products, specialty meats, ready meals and other prepared foods that are sold to foodservice, retail and direct to consumer customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants. The chicken products processed by the Mexico reportable segment are sold to foodservice, retail and frozen entrée customers. The segment’s primary distribution is through retailers, foodservice distributors and restaurants. Additional information regarding reportable segments is as follows: Three Months Ended Six Months Ended June 30, 2024 (a) June 25, 2023 (b) June 30, 2024 (a) June 25, 2023 (b) (In thousands) Net sales U.S. $ 2,663,965 $ 2,446,208 $ 5,243,297 $ 4,878,776 Europe 1,301,541 1,310,750 2,569,444 2,550,014 Mexico 593,808 551,133 1,108,507 1,044,929 Total $ 4,559,314 $ 4,308,091 $ 8,921,248 $ 8,473,719 (a) In addition to the above third party sales, for the three months ended June 30, 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $29.0 million. These sales consisted of fresh products, prepared products and grain. (b) In addition to the above third party sales, for the three months ended June 25, 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $33.8 million. These sales consisted of fresh products, prepared products and grain. (c) In addition to the above third party sales, for the six months ended June 30, 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $76.9 million. These sales consisted of fresh products, prepared products and grain. (d) In addition to the above third party sales, for the six months ended June 25, 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $64.9 million. These sales consisted of fresh products, prepared products and grain. Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Operating income U.S. $ 307,988 $ 37,265 $ 487,405 $ 9,159 Europe 23,993 2,513 55,109 27,774 Mexico 108,809 60,719 148,550 94,894 Eliminations — (226) — (213) Total operating income 440,790 100,271 691,064 131,614 Interest expense, net of capitalized interest 31,201 47,152 72,444 89,814 Interest income (15,863) (7,628) (26,209) (11,228) Foreign currency transaction losses (gains) (2,225) 16,395 (6,562) 34,538 Miscellaneous, net 504 (1,331) (2,782) (23,984) Income before income taxes 427,173 45,683 654,173 42,474 Income tax expense (benefit) 100,650 (15,225) 152,712 (24,065) Net income $ 326,523 $ 60,908 $ 501,461 $ 66,539 June 30, 2024 December 31, 2023 (In thousands) Total assets U.S. $ 7,380,365 $ 7,012,211 Europe 4,328,933 4,299,985 Mexico 1,174,684 1,684,711 Eliminations (2,805,525) (3,186,546) Total assets $ 10,078,457 $ 9,810,361 June 30, 2024 December 31, 2023 (In thousands) Long-lived assets (a) U.S. $ 2,104,626 $ 2,085,222 Europe 1,016,836 1,041,857 Mexico 276,326 301,919 Eliminations (3,888) (3,888) Total long-lived assets $ 3,393,900 $ 3,425,110 (a) For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting . Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES General The Company is a party to many routine contracts in which it provides general indemnities in the normal course of business to third parties for various risks. Among other considerations, the Company has not recorded a liability for any of these indemnities because, based upon the likelihood of payment, the fair value of such indemnities would not have a material impact on its financial condition, results of operations and cash flows. Financial Instruments The Company’s loan agreements generally obligate the Company to reimburse the applicable lender for incremental increased costs due to a change in law that imposes (1) any reserve or special deposit requirement against assets of, deposits with or credit extended by such lender related to the loan, (2) any tax, duty or other charge with respect to the loan (except standard income tax) or (3) capital adequacy requirements. In addition, some of the Company’s loan agreements contain a withholding tax provision that requires the Company to pay additional amounts to the applicable lender or other financing party, generally if withholding taxes are imposed on such lender or other financing party as a result of a change in the applicable tax law. These increased cost and withholding tax provisions continue for the entire term of the applicable transaction and there is no limitation on the maximum additional amounts the Company could be obligated to pay under such provisions. Any failure to pay amounts due under such provisions generally would trigger an event of default and, in a secured financing transaction, would entitle the lender to foreclose upon the collateral to realize the amount due. Litigation The Company is subject to various legal proceedings and claims which arise in the ordinary course of business. In the Company’s opinion, it has made appropriate and adequate accruals for claims where necessary; however, the ultimate liability for these matters is uncertain, and if significantly different than the amounts accrued, the ultimate outcome could have a material effect on the financial condition or results of operations of the Company. The Company cannot predict the outcome of the litigation matters or other actions nor when they will be resolved. The consequences of the pending litigation matters are inherently uncertain, and settlements, adverse actions, or adverse judgments in some or all of these matters, including investigations by the U.S. Department of Justice (“DOJ”) or the Attorneys General, may result in monetary damages, fines, penalties, or injunctive relief against the Company, which could be material and could adversely affect its financial condition or results of operations. Any claims or litigation, even if fully indemnified or insured, could damage the Company’s reputation and make it more difficult to compete effectively or to obtain adequate insurance in the future. In addition, the U.S. government’s recent focus on market dynamics in the meat processing industry could expose the Company to additional costs and risks. Except as noted below, we have recorded no provision and are unable to reasonably estimate the amount of loss or amount of any range of loss with respect to these proceedings due to the nature and status of these matters. Tax Claims and Proceedings During 2014 and 2015, the Mexican Tax Administration Service (“SAT”) opened a review of Avícola Pilgrim’s Pride de Mexico, S.A. de C.V. (“Avícola”) with regard to tax years 2009 and 2010. In both instances, the SAT claims that controlled company status did not exist for certain subsidiaries because Avícola did not own 50% of the shares in voting rights of Incubadora Hidalgo, S. de R.L de C.V. and Comercializadora de Carnes de México S. de R.L de C.V. (both in 2009) and Pilgrim’s Pride, S. de R.L. de C.V. (in 2010). Avícola appealed the opinion, and on January 31, 2023, the appeal as to tax year 2009 was dismissed by the Mexico Supreme Court. Accordingly, during 2023 PPC paid $25.9 million for tax year 2009. The opinion for tax year 2010 is still under appeal. Accordingly, the Company has an accrual of $15.9 million as of June 30, 2024 with regard to the tax year 2010. On May 12, 2022, the SAT issued tax assessments against Pilgrim’s Pride, S. de R.L. de C.V. and Provemex Holdings, LLC in connection with PPC’s acquisition of Tyson de México. Following the acquisition, PPC re-domiciled Provemex Holdings, LLC from the U.S. to Mexico. The tax authorities claim that Provemex Holdings, LLC was a Mexican entity at the time of the acquisition and, as a result, was obligated to pay taxes on the sale. The Mexican subsidiaries of PPC filed a petition to nullify these assessments, which is still pending. Amounts under appeal are approximately $269.6 million for each of the two tax assessments. No provision has been recorded for these amounts at this time. U.S. Litigation Between September 2, 2016 and October 13, 2016, a series of federal class action lawsuits were filed with the U.S. District Court for the Northern District of Illinois (“Illinois Court”) against PPC and other defendants by and on behalf of direct and indirect purchasers of broiler chickens alleging violations of antitrust and unfair competition laws and styled as In re Broiler Chicken Antitrust Litigation, Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $537.4 million to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within Selling, general and administrative (“SG&A”) expense in our Condensed Consolidated Statements of Income. Between August 30, 2019 and October 16, 2019, a series of purported class action lawsuits were filed in the U.S. District Court for the District of Maryland (“Maryland Court”) against PPC and a number of other chicken producers, as well as Webber, Meng, Sahl & Company and Agri Stats, styled as Jien, et al. v. Perdue Farms, Inc., et al., No.19-cv-02521. The plaintiffs are a putative class of poultry processing plant production and maintenance workers (“Poultry Workers Class”) and allege that the defendants conspired to fix and depress the compensation paid to Poultry Workers Class in violation of the Sherman Antitrust Act. PPC entered into an agreement to settle all claims made by the Poultry Workers Class for $29.0 million and paid the plaintiffs this amount during 2021, though the agreement is still subject to final approval by the Maryland Court. We have recognized these settlement expenses within SG&A expense in our Condensed Consolidated Statements of Income. On January 27, 2017, a purported class action on behalf of broiler chicken farmers was brought against PPC and other chicken producers in the U.S. District Court for the Eastern District of Oklahoma alleging, among other things, a conspiracy to reduce competition for grower services and depress the price paid to growers. The complaint was consolidated with several subsequently filed consolidated amended class action complaints and styled as In re Broiler Chicken Grower Litigation , Case No. CIV-17-033. On June 24, 2024, a settlement was reached in the amount of $100.0 million. We have recognized these settlement expenses within SG&A expense in our Condensed Consolidated Statements of Income. The incremental increase in settlement amount was recognized in the three months ended June 30, 2024. On October 20, 2016, Patrick Hogan, acting on behalf of himself and a putative class of certain PPC stockholders, filed a class action complaint in the U.S. District Court for the District of Colorado against PPC and its named executive officers styled as Hogan v. Pilgrim’s Pride Corporation, et al. , No. 16-CV-02611. The complaint alleges, among other things, that PPC’s SEC filings contained statements that were rendered materially false and misleading. PPC continues to litigate against the putative class plaintiffs. No loss related to this matter can be reasonably estimated or determined probable at this time, therefore no accrual has been recorded to date on this matter. U.S. State Matters From February 21, 2017 through May 4, 2021, the Attorneys General for multiple U.S. states have issued civil investigative demands (“CIDs”). The CIDs request, among other things, data and information related to the acquisition and processing of broiler chickens and the sale of chicken products. PPC is cooperating with the Attorneys General in these states in producing documents pursuant to the CIDs. On September 1, 2020, February 22, 2021, and October 28, 2021, the Attorneys General in New Mexico ( State of New Mexico v. Koch Foods, et al. , D-101-CV-2020-01891), Alaska ( State of Alaska v. Agri Stats, Inc., et al. , 3AN-21-04632), and Washington ( State of Washington v. Tyson Foods Inc., et al. , 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $5.2 million. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in SG&A expense in our Condensed Consolidated Statements of Income in their respective periods. U.S. Federal Matters On February 9, 2022, PPC lea rned that the DOJ opened a civil investigation into human resources antitrust matters, and on October 6, 2022, PPC learned that the DOJ opened a civil investigation into grower contracts and payment practices and on October 2, 2023, received a CID requesting information from PPC. PPC is cooperating with the DOJ in its investigations and CID. The DOJ has informed the Company that it is likely to file a civil complaint pursuant to at least one of these investigations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 326,303	$ 60,456	$ 500,724	$ 65,643

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BUSINESS AND SUMMARY OF SIGNI_2

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 29, 2024. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023. The Company operates on the basis of a 52/53 week fiscal year ending on the Sunday falling on or before December 31. Any reference we make to a particular year (for example, 2024) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The six months ended June 30, 2024 represents the period from January 1, 2024 through June 30, 2024. The six months ended June 25, 2023 represents the period from December 26, 2022 through June 25, 2023. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation. The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. GAAP using management’s best estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. Significant estimates made by the Company include the allowance for credit losses, reserves related to inventory obsolescence or valuation, useful lives of long-lived assets, goodwill, valuation of deferred tax assets, insurance accruals, valuation of pension and other postretirement benefits obligations, income tax accruals, certain derivative positions, certain litigation reserves and valuations of acquired businesses.
Foreign Currency Transactions and Translations	The functional currency of the Company’s U.S. operations and certain holding-company subsidiaries in Luxembourg, the U.K., Malta and the Republic of Ireland is the U.S. dollar. The functional currency of its U.K. operations is the British pound. The functional currency of the Company’s operations in France, the Netherlands and the Republic of Ireland is the euro. The Company has determined that there was a significant change in economic factors that necessitated a reassessment of the appropriate functional currency of the Mexico reportable segment. The primary economic factors driving the change include 1) the recent sustained, historical strengthening of the Mexican peso against the U.S. dollar and against other global currencies without a correlated impact on the average product sales prices of our Mexico operations and 2) a shift in the proportional volume of spend we have that is denominated in Mexican peso in relation to spend that is denominated in U.S. dollar. As a result of this reassessment, on April 1, 2024, the Company changed the functional currency of its Mexico operations from U.S. dollar to the Mexican peso. The change in the functional currency was accounted for on April 1, 2024, and did not have a material impact on our consolidated financial statements. For foreign currency-denominated entities, including the Company’s Mexico operations after April 1, 2024, translation from local currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect as of the balance sheet date. Income and expense accounts are remeasured using average exchange rates for the period. Adjustments resulting from translation of these financial records are reflected as a separate component of Accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets. For the Company’s Mexico operations prior to April 1, 2024, remeasurement from the Mexican peso to U.S. dollars was performed for monetary assets and liabilities using the exchange rate in effect as of the balance sheet date. Remeasurement was performed for non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. Income and expense accounts were remeasured using average exchange rates for the period. Net adjustments that resulted from remeasurement of the financial records, as well as foreign currency transaction gains and losses, are reflected in Foreign currency transaction losses (gains)
Restricted Cash and Restricted Cash Equivalents	Restricted Cash and Restricted Cash Equivalents The Company is required to maintain cash balances with brokers as collateral for exchange-traded futures contracts. These balances are classified as restricted cash as they are not available for use by the Company to fund daily operations. The balance of restricted cash and restricted cash equivalents may also include investments in U.S. Treasury Bills that qualify as restricted cash equivalents, as required by the brokers, to offset the obligation to return cash collateral.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted as of June 30, 2024 In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires additional disclosures for reportable segments. The guidance requires disclosures about significant segment expenses that are regularly provided to the chief operating decision maker along with additional measures of segment profit that are regularly used by the chief operating decision maker in assessing segment performance and deciding how to allocate resources. The provisions of the new guidance will be effective for years beginning after December 15, 2023 and interim periods in fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance for the annual reporting period of the current fiscal year and is still assessing the impacts on our Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires additional disclosures for income taxes to enhance transparency and usefulness of income tax disclosures. The guidance requires additional disclosures for the tabular rate reconciliation, income taxes paid, and the disaggregation of domestic, federal and state, and foreign components within income (or loss) from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. The provisions of the new guidance will be effective for years beginning after December 15, 2024. The Company plans to adopt this guidance as it becomes effective and is assessing the impacts on our Consolidated Financial Statements.
Revenue	The vast majority of the Company’s revenue is derived from contracts which are based upon a customer ordering our products. While there may be master agreements, the contract is only established when the customer’s order is accepted by the Company. The Company accounts for a contract, which may be verbal or written, when it is approved and committed by both parties, the rights of the parties are identified along with payment terms, the contract has commercial substance and collectability is probable. The Company evaluates the transaction for distinct performance obligations, which are the sale of its products to customers. Since its products are commodity market-priced, the sales price is representative of the observable, standalone selling price. Each performance obligation is recognized based upon a pattern of recognition that reflects the transfer of control to the customer at a point in time, which is upon destination (customer location or port of destination), which faithfully depicts the transfer of control and recognition of revenue. There are instances of customer pick-up at the Company’s facility, in which case control transfers to the customer at that point and the Company recognizes revenue. The Company’s performance obligations are typically fulfilled within days to weeks of the acceptance of the order. The Company makes judgments regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from revenue and cash flows with customers. Determination of a contract requires evaluation and judgment along with the estimation of the total contract value and if any of the contract value is constrained. Due to the nature of our business, there is minimal variable consideration, as the contract is established at the acceptance of the order from the customer. When applicable, variable consideration is estimated at contract inception and updated on a regular basis until the contract is completed. Allocating the transaction price to a specific performance obligation based upon the relative standalone selling prices includes estimating the standalone selling prices including discounts and variable consideration. Contract Costs The Company can incur incremental costs to obtain or fulfill a contract such as broker expenses that are not expected to be recovered. The amortization period for such expenses is less than one year; therefore, the costs are expensed as incurred. Taxes The Company excludes all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer (for example, sales, use, value added and some excise taxes) from the transaction price. Contract Balances The Company receives payment from customers based on terms established with the customer. Payments are typically due within 14 to 30 days of delivery. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. The revenue contract liabilities relate to customer prepayments and the advanced consideration, such as cash, received from governmental agency contracts for which performance obligations to the end customer have not been satisfied.
Accounts Receivable	Accounts Receivable

BUSINESS AND SUMMARY OF SIGNI_3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table reconciles cash, cash equivalents, restricted cash and restricted cash equivalents as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 30, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 1,317,087 $ 697,748 Restricted cash and restricted cash equivalents 17,039 33,475 Total cash, cash equivalents, restricted cash and restricted cash equivalents shown in the Condensed Consolidated Statements of Cash Flows $ 1,334,126 $ 731,223
Schedule of Cash and Cash Equivalents	The following table reconciles cash, cash equivalents, restricted cash and restricted cash equivalents as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 30, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 1,317,087 $ 697,748 Restricted cash and restricted cash equivalents 17,039 33,475 Total cash, cash equivalents, restricted cash and restricted cash equivalents shown in the Condensed Consolidated Statements of Cash Flows $ 1,334,126 $ 731,223

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	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

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Instruments and Cash Collateral	Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table: June 30, 2024 December 31, 2023 (In thousands) Fair values: Commodity derivative assets $ 5,176 $ 1,202 Commodity derivative liabilities (16,594) (17,118) Foreign currency derivative assets 223 175 Foreign currency derivative liabilities (826) (723) Sales contract derivative assets 4,493 960 Cash collateral posted with brokers (a) 17,039 33,475 Derivatives coverage (b) : Corn 12.1 % 10.9 % Soybean meal 17.5 % 39.6 % Period through which stated percent of needs are covered: Corn July 2025 July 2024 Soybean meal March 2025 March 2024 (a) Collateral posted with brokers consists primarily of cash, short-term treasury bills or other cash equivalents. (b) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.
Schedule of Derivative Gain (Loss)	The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments: Three Months Ended Six Months Ended Gains (Losses) by Type of Contract (a) June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 Affected Line Item in the Condensed Consolidated Statements of Income (In thousands) Foreign currency derivatives loss $ — $ (28,551) $ — $ (47,654) Foreign currency transaction losses Commodity derivative gain (loss) (6,146) 188 (16,194) (16,347) Cost of sales Sales contract derivative gain (loss) 1,438 (1,637) 3,533 2,528 Net sales Total $ (4,708) $ (30,000) $ (12,661) $ (61,473) (a) Amounts represent income (expenses) related to results of operations.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges: Gains (Losses) Recognized in Other Comprehensive Income Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Foreign currency derivative gains (losses) $ 1,545 $ 16 $ 2,000 $ (1,648)
Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income	Gains (Losses) Reclassified from AOCI into Income Three Months Ended June 30, 2024 Three Months Ended June 25, 2023 Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) (In thousands) Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded $ 4,559,314 $ 3,867,688 $ 31,201 $ 4,308,091 $ 4,029,666 $ 47,152 Impact from cash flow hedging instruments: Foreign currency derivatives 915 (105) — 120 56 — (a) Amounts represent income (expenses) related to net sales. (b) Amounts represent expenses (income) related to cost of sales and interest expense. Gains (Losses) Reclassified from AOCI into Income Six Months Ended June 30, 2024 Six Months Ended June 25, 2023 Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) Net sales (a) Cost of sales (b) Interest expense, net of capitalized interest (b) (In thousands) Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded $ 8,921,248 $ 7,845,713 $ 72,444 $ 8,473,719 $ 8,022,247 $ 89,814 Impact from cash flow hedging instruments: Foreign currency derivatives 1,956 (105) — 335 (14) — (a) Amounts represent income (expenses) related to net sales. (b) Amounts represent expenses (income) related to cost of sales and interest expense.

TRADE ACCOUNTS AND OTHER RECE_2

TRADE ACCOUNTS AND OTHER RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule of Trade Accounts and Other Receivables	Trade accounts and other receivables, less allowance for credit losses, consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Trade accounts receivable $ 1,012,963 $ 1,027,916 Notes receivable from third parties 13,065 51,168 Other receivables 27,409 59,435 Receivables, gross 1,053,437 1,138,519 Allowance for credit losses (7,577) (9,341) Receivables, net $ 1,045,860 $ 1,129,178 Accounts receivable from related parties (a) $ 2,055 $ 1,778 (a) Additional information regarding accounts receivable from related parties is included in “Note 17. Related Party Transactions.” Activity in the allowance for credit losses was as follows: Six Months Ended June 30, 2024 (In thousands) Balance, beginning of period $ (9,341) Provision released to operating results 1,492 Account write-offs and recoveries 36 Effect of exchange rate 236 Balance, end of period $ (7,577)

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Raw materials and work-in-process $ 1,060,418 $ 1,158,467 Finished products 564,017 642,028 Operating supplies 71,293 75,530 Maintenance materials and parts 110,516 109,374 Total inventories $ 1,806,244 $ 1,985,399

INVESTMENTS IN SECURITIES (Tabl

INVESTMENTS IN SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-For-Sale Securities	The following table summarizes our investments in available-for-sale securities: June 30, 2024 December 31, 2023 Cost Fair Value Cost Fair Value (In thousands) Cash equivalents: Fixed income securities $ 1,232,700 $ 1,232,893 $ 324,808 $ 324,947

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	The activity in goodwill by segment for the six months ended June 30, 2024 was as follows: December 31, 2023 Currency Translation June 30, 2024 (In thousands) U.S. $ 41,936 $ — $ 41,936 Europe 1,116,521 (10,610) 1,105,911 Mexico 127,804 (17,366) 110,438 Total $ 1,286,261 $ (27,976) $ 1,258,285
Schedule of Indefinite and Finite-Lived Intangible Assets	Intangible assets consisted of the following: December 31, 2023 Amortization Currency Translation June 30, 2024 (In thousands) Cost: Trade names not subject to amortization $ 580,473 $ — $ (6,413) $ 574,060 Trade names subject to amortization 112,681 — (367) 112,314 Customer relationships 441,719 — (5,805) 435,914 Accumulated amortization: Trade names (57,762) (1,938) 52 (59,648) Customer relationships (223,128) (14,192) 3,582 (233,738) Intangible assets, net $ 853,983 $ (16,130) $ (8,951) $ 828,902
Schedule of Intangible Assets Amortization and Estimated Useful Lives	Intangible assets are amortized over the estimated useful lives of the assets as follows: Customer relationships 3-18 years Trade names subject to amortization 15-20 years

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment (“PP&E”), net consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Land $ 269,788 $ 273,846 Buildings 2,182,470 2,170,716 Machinery and equipment 4,043,853 3,953,008 Autos and trucks 97,873 93,858 Finance lease assets 4,736 5,550 Construction-in-progress 377,021 458,146 PP&E, gross 6,975,741 6,955,124 Accumulated depreciation (3,852,713) (3,796,721) PP&E, net $ 3,123,028 $ 3,158,403

CURRENT LIABILITIES (Tables)

CURRENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Current Liabilities	Current liabilities, other than income taxes and current maturities of long-term debt, consisted of the following components: June 30, 2024 December 31, 2023 (In thousands) Accounts payable: Trade accounts payable $ 1,211,673 $ 1,294,830 Book overdrafts 95,353 90,612 Other payables 30,665 25,134 Total accounts payable 1,337,691 1,410,576 Accounts payable to related parties (a) 23,331 41,254 Revenue contract liabilities (b) 67,176 84,958 Accrued expenses and other current liabilities: Compensation and benefits 266,223 249,474 Litigation settlements (c) 145,430 73,330 Accrued sales rebates 116,575 104,390 Insurance and self-insured claims 88,259 76,287 Current maturities of operating lease liabilities 62,621 67,440 Interest and debt-related fees 53,549 71,508 Taxes 45,558 37,635 Derivative liabilities (d) 17,419 17,841 Other accrued expenses 203,441 228,822 Total accrued expenses and other current liabilities 999,075 926,727 Total $ 2,427,273 $ 2,463,515 (a) Additional information regarding accounts payable to related parties is included in “Note 17. Related Party Transactions.” (b) Additional information regarding revenue contract liabilities is included in “Note 2. Revenue Recognition.” (c) Additional information regarding litigation settlements is included in “Note 19. Commitments and Contingencies.” (d) Additional information regarding derivative liabilities is included in “Note 3. Derivative Financial Instruments.”

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components: Maturity June 30, 2024 December 31, 2023 (In thousands) Senior notes payable, net of discount, at 6.875% 2034 $ 490,868 $ 490,408 Senior notes payable, net of discount, at 6.25% 2033 974,052 993,595 Senior notes payable at 3.50% 2032 900,000 900,000 Senior notes payable, net of discount, at 4.25% 2031 850,593 992,711 U.S. Credit Facility (defined below) at SOFR plus 1.35% 2028 — — Europe Credit Facility (defined below) with notes payable at SONIA plus 1.25% 2027 — — Mexico Credit Facility (defined below) with notes payable at TIIE plus 1.35% 2026 — — Finance lease obligations Various 2,103 2,486 Long-term debt 3,217,616 3,379,200 Less: Current maturities of long-term debt (585) (674) Long-term debt, less current maturities 3,217,031 3,378,526 Less: Capitalized financing costs (33,936) (37,685) Long-term debt, less current maturities, net of capitalized financing costs $ 3,183,095 $ 3,340,841

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following tables provide information regarding the changes in accumulated other comprehensive loss: Six Months Ended June 30, 2024 Losses Related to Foreign Currency Translation Losses on Derivative Financial Instruments Classified as Cash Flow Hedges Losses Related to Pension and Other Postretirement Benefits Losses on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (114,850) $ (1,914) $ (59,714) $ (5) $ (176,483) Other comprehensive income (loss) before reclassifications (114,136) 2,000 5,692 115 (106,329) Amounts reclassified from accumulated other comprehensive loss (gain) to net income — (2,061) 261 (177) (1,977) Currency translation — 7 392 — 399 Net current period other comprehensive income (loss) (114,136) (54) 6,345 (62) (107,907) Balance, end of period $ (228,986) $ (1,968) $ (53,369) $ (67) $ (284,390) Six Months Ended June 25, 2023 Losses Related to Foreign Currency Translation Losses on Derivative Financial Instruments Classified as Cash Flow Hedges Losses Related to Pension and Other Postretirement Benefits Losses on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (269,825) $ (1,162) $ (65,447) $ (14) $ (336,448) Other comprehensive income (loss) before reclassifications 143,925 (1,648) 7,207 (41) 149,443 Amounts reclassified from accumulated other comprehensive loss (gain) to net income — (349) 342 22 15 Currency translation — (11) (341) — (352) Net current period other comprehensive income (loss) 143,925 (2,008) 7,208 (19) 149,106 Balance, end of period $ (125,900) $ (3,170) $ (58,239) $ (33) $ (187,342)
Schedule of Reclassification from Accumulated Other Comprehensive Loss	Amount Reclassified from Accumulated Other Comprehensive Loss (a) Details about Accumulated Other Comprehensive Loss Components Six Months Ended June 30, 2024 Six Months Ended June 25, 2023 Affected Line Item in the Condensed Consolidated Statements of Income (In thousands) Realized gains on settlement of foreign currency derivatives classified as cash flow hedges $ 1,956 $ 335 Net sales Realized gains on settlement of foreign currency derivatives classified as cash flow hedges 105 14 Cost of sales Realized gains (losses) on sale of securities 234 (29) Interest income Amortization of pension and other postretirement plan actuarial losses (b) (344) (448) Miscellaneous, net Total before tax 1,951 (128) Tax benefit 26 113 Total reclassification for the period $ 1,977 $ (15) (a) Positive amounts represent income to the results of operations while amounts in parentheses represent expenses to the results of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See “Note 14. Pension and Other Postretirement Benefits.”

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plan Obligations and Assets	The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Condensed Consolidated Balance Sheets for the defined benefit plans were as follows: Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Change in projected benefit obligation Projected benefit obligation, beginning of period $ 237,508 $ 1,160 $ 236,147 $ 1,169 Interest cost 4,949 22 5,097 22 Actuarial gain (10,243) (19) (11,029) (8) Benefits paid (7,273) (78) (7,437) (73) Currency translation loss (gain) (7) — 3,018 — Projected benefit obligation, end of period $ 224,934 $ 1,085 $ 225,796 $ 1,110 Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Change in plan assets Fair value of plan assets, beginning of period $ 225,451 $ — $ 210,133 $ — Actual return on plan assets 2,931 — 3,972 — Contributions by employer 3,431 78 3,249 73 Benefits paid (7,273) (78) (7,437) (73) Expenses paid from assets (192) — (146) — Currency translation gain 50 — 2,700 — Fair value of plan assets, end of period $ 224,398 $ — $ 212,471 $ — June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Funded status Unfunded benefit obligation, end of period $ (536) $ (1,085) $ (12,057) $ (1,160) June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Amounts recognized in the Condensed Consolidated Balance Sheets at end of period Noncurrent asset $ 1,593 $ — $ — $ — Current liability (237) (187) (7,717) (187) Long-term liability (1,892) (898) (4,340) (973) Net financial position $ (536) $ (1,085) $ (12,057) $ (1,160) June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Amounts recognized in accumulated other comprehensive loss at end of period Net actuarial loss (gain) $ 31,779 $ (106) $ 40,487 $ (87)
Schedule of Net Defined Benefit Pension and Other Postretirement Costs	Net defined benefit pension and other postretirement costs included the following components: Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Interest cost $ 2,683 $ 13 $ 2,783 $ 13 $ 4,949 $ 22 $ 5,097 $ 22 Estimated return on plan assets (2,756) — (2,531) — (5,203) — (4,753) — Expenses paid from assets 132 — 52 — 192 — 146 — Amortization of net loss 199 — 261 — 335 — 440 — Amortization of past service cost 5 — 4 — 9 — 8 — Net costs (a) $ 263 $ 13 $ 569 $ 13 $ 282 $ 22 $ 938 $ 22 (a) Net costs are included in the line item Miscellaneous, net
Schedule of Economic Assumptions and Impact of Change in Discount Rate on Benefit Obligation	The weighted average assumptions used in determining pension and other postretirement plan information were as follows: June 30, 2024 December 31, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure benefit obligation at end of period Discount rate 5.34 % 5.47 % 4.81 % 5.06 % Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure net pension and other postretirement cost Discount rate 4.84 % 5.06 % 5.05 % 5.16 % Expected return on plan assets 5.07 % N/A 4.98 % N/A
Schedule of Unrecognized Benefit Amounts	The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows: Six Months Ended June 30, 2024 June 25, 2023 Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Net actuarial loss (gain), beginning of period $ 40,487 $ (87) $ 48,121 $ (66) Amortization (344) — (448) — Actuarial gain (10,244) (19) (11,029) (8) Asset loss 2,271 — 781 — Currency translation loss (gain) (391) — 306 — Net actuarial loss (gain), end of period $ 31,779 $ (106) $ 37,731 $ (74)

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on a Recurring Basis	The following items were measured at fair value on a recurring basis: June 30, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (In thousands) Assets: Fixed income securities $ 1,232,893 $ — $ 1,232,893 $ 324,947 $ — $ 324,947 Commodity derivative assets 5,176 — 5,176 1,202 — 1,202 Foreign currency derivative assets 223 — 223 175 — 175 Sales contract derivative assets — 4,493 4,493 — 960 960 Liabilities: Commodity derivative liabilities (16,594) — (16,594) (17,118) — (17,118) Foreign currency derivative liabilities (826) — (826) (723) — (723)
Schedule of Carrying Amounts and Estimated Fair Values of Fixed-Rate Debt Obligation	The carrying amounts and estimated fair values of our debt obligations recorded in the Condensed Consolidated Balance Sheets consisted of the following: June 30, 2024 December 31, 2023 Carrying Amount Fair Carrying Amount Fair (In thousands) Fixed-rate senior notes payable at 3.50%, at Level 2 inputs $ (900,000) $ (761,616) $ (900,000) $ (760,203) Fixed-rate senior notes payable at 4.25%, at Level 2 inputs (850,593) (779,956) (992,711) (902,650) Fixed-rate senior notes payable at 6.25%, at Level 2 inputs (974,052) (994,896) (993,595) (1,029,020) Fixed-rate senior notes payable at 6.875%, at Level 2 inputs (490,868) (530,400) (490,408) (540,230)

RESTRUCTURING-RELATED ACTIVIT_2

RESTRUCTURING-RELATED ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table provides a summary of our estimates of timelines and costs associated with these restructuring initiatives by major type of cost: Moy Park Pilgrim’s Pride Ltd. Pilgrim’s Food Masters 2022 Pilgrim’s Food Masters 2023 Pilgrim’s Food Masters 2024 Pilgrim’s Europe Central Total (In thousands) Earliest implementation date October 2022 November 2022 December 2022 October 2023 April 2024 January 2024 Expected predominant completion date June 2023 July 2023 July 2023 March 2024 December 2024 December 2024 Costs incurred and expected to be incurred: Employee-related costs $ 11,103 $ 20,444 $ 14,490 $ 3,027 $ 30,052 $ 25,197 $ 104,313 Asset impairment costs 3,476 7,111 4,141 — 4,477 1,824 21,029 Contract termination costs 248 263 — — 548 — 1,059 Other exit and disposal costs (a) 6,245 5,344 6,330 — 2,404 658 20,981 Total exit and disposal costs (b) $ 21,072 $ 33,162 $ 24,961 $ 3,027 $ 37,481 $ 27,679 $ 147,382 Costs incurred since earliest implementation date: Employee-related costs $ 11,103 $ 20,444 $ 14,490 $ 3,027 $ 12,223 $ 21,779 $ 83,066 Asset impairment costs 3,476 7,111 4,141 — 4,477 1,824 21,029 Contract termination costs 248 263 — — 548 — 1,059 Other exit and disposal costs (a) 6,245 5,344 6,330 — 2,404 569 20,892 Total exit and disposal costs $ 21,072 $ 33,162 $ 24,961 $ 3,027 $ 19,652 $ 24,172 $ 126,046 (a) Comprised of other costs directly related to the restructuring initiatives including Moy Park flock depletion, the write-off of Pilgrim’s Pride Ltd. prepaid maintenance costs and Pilgrim’s Food Masters consulting fees. (b) All costs, except for asset impairment costs, are estimated to result in cash outlays. During the six months ended June 30, 2024, the Company recognized the following expenses and paid the following cash related to each restructuring initiative: Expenses Cash Outlays (In thousands) Moy Park $ — $ 659 Pilgrim’s Pride Ltd. 7,410 704 Pilgrim’s Food Masters 2022 — 1,625 Pilgrim’s Food Masters 2023 — 2,140 Pilgrim’s Food Masters 2024 19,652 4,925 Pilgrim’s Europe Central 24,172 19,483 Total $ 51,234 $ 29,536
Schedule of Restructuring Reserve	The following table reconciles liabilities and reserves associated with each restructuring initiative from its respective inception to June 30, 2024 . Ending liability balances for employee termination benefits and other charges are reported in the line item Accrued expenses and other current liabilities in our Condensed Consolidated Balance Sheets. The ending reserve balance for inventory adjustments is reported in the line item Inventories in our Condensed Consolidated Balance Sheets. The ending reserve balance for asset impairments is reported in the line item Property, plant and equipment, net in our Condensed Consolidated Balance Sheets. Moy Park Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Other charges $ 2,644 $ — $ (659) $ (21) $ 1,964 Contract termination 144 — — (1) 143 Total $ 2,788 $ — $ (659) $ (22) $ 2,107 Pilgrim’s Pride Ltd. Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ 35 $ (35) $ — $ — $ — Severance 734 380 (550) (4) 560 Asset impairment — 7,111 (7,111) — — Inventory adjustments 294 141 (432) (3) — Lease termination 164 372 (93) — 443 Other charges 752 (559) (61) (8) 124 Total $ 1,979 $ 7,410 $ (8,247) $ (15) $ 1,127 Pilgrim’s Food Masters 2022 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Severance $ 1,281 $ — $ (1,276) $ (5) $ — Inventory adjustments 65 — (63) (2) — Lease termination 1,289 — (1,284) (5) — Other charges 685 — (349) (3) 333 Total $ 3,320 $ — $ (2,972) $ (15) $ 333 Pilgrim’s Food Masters 2023 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ 522 $ — $ (517) $ (5) $ — Severance 1,636 — (1,623) (13) — Total $ 2,158 $ — $ (2,140) $ (18) $ — Pilgrim’s Food Masters 2024 Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ — $ 212 $ — $ — $ 212 Severance — 12,011 (3,949) 16 8,078 Asset impairment — 4,477 (4,477) — — Lease termination — 548 (548) — — Other charges — 2,404 (976) 3 1,431 Total $ — $ 19,652 $ (9,950) $ 19 $ 9,721 Pilgrim’s Europe Central Liability or reserve as of December 31, 2023 Restructuring charges incurred Cash payments and disposals Currency translation Liability or reserve as of June 30, 2024 (In thousands) Employee retention benefits $ — $ 12 $ (12) $ — $ — Severance — 21,767 (18,914) (121) 2,732 Asset impairment — 1,824 (1,824) — — Lease termination — 8 (8) — — Other charges — 561 (557) (4) — Total $ — $ 24,172 $ (21,315) $ (125) $ 2,732

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies. Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Sales to related parties JBS USA Food Company (a) $ 8,263 $ 9,012 $ 13,637 $ 16,524 JBS Chile Ltd. 759 182 1,946 1,128 Other related parties 509 1,355 1,079 2,233 Total 9,531 $ 10,549 $ 16,662 $ 19,885 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Cost of goods purchased from related parties JBS USA Food Company (a) $ 41,862 $ 78,509 $ 82,186 $ 128,414 Seara Meat B.V. 4,873 4,638 10,268 9,638 Penasul UK LTD 2,970 4,103 6,500 8,290 Other related parties 1,963 1,720 3,323 3,527 Total $ 51,668 $ 88,970 $ 102,277 $ 149,869 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Expenditures paid by related parties JBS USA Food Company (b) $ 24,916 $ 46,104 $ 42,687 $ 60,127 Other related parties — 15 — 15 Total $ 24,916 $ 46,119 $ 42,687 $ 60,142 Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Expenditures paid on behalf of related parties JBS USA Food Company (b) $ 4,563 $ 9,540 $ 7,252 $ 12,919 Other related parties — — — 5 Total $ 4,563 $ 9,540 $ 7,252 $ 12,924 June 30, 2024 December 31, 2023 (In thousands) Accounts receivable from related parties JBS USA Food Company (a) $ 1,541 $ 967 JBS Chile Ltda. 379 — Other related parties 135 811 Total $ 2,055 $ 1,778 June 30, 2024 December 31, 2023 (In thousands) Accounts payable to related parties JBS USA Food Company (a) $ 14,320 $ 34,038 Seara Meats B.V. 5,204 2,252 JBS Asia Co Limited 2,454 2,254 Other related parties 1,353 2,710 Total $ 23,331 $ 41,254 (a) The Company routinely executes transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of June 30, 2024, goods purchased and in transit from JBS USA were immaterial and not reflected on our Consolidated Balance Sheets. (b) The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for both companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. This agreement expires on December 31, 2025.

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Additional information regarding reportable segments is as follows: Three Months Ended Six Months Ended June 30, 2024 (a) June 25, 2023 (b) June 30, 2024 (a) June 25, 2023 (b) (In thousands) Net sales U.S. $ 2,663,965 $ 2,446,208 $ 5,243,297 $ 4,878,776 Europe 1,301,541 1,310,750 2,569,444 2,550,014 Mexico 593,808 551,133 1,108,507 1,044,929 Total $ 4,559,314 $ 4,308,091 $ 8,921,248 $ 8,473,719 (a) In addition to the above third party sales, for the three months ended June 30, 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $29.0 million. These sales consisted of fresh products, prepared products and grain. (b) In addition to the above third party sales, for the three months ended June 25, 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $33.8 million. These sales consisted of fresh products, prepared products and grain. (c) In addition to the above third party sales, for the six months ended June 30, 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $76.9 million. These sales consisted of fresh products, prepared products and grain. (d) In addition to the above third party sales, for the six months ended June 25, 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $64.9 million. These sales consisted of fresh products, prepared products and grain. Three Months Ended Six Months Ended June 30, 2024 June 25, 2023 June 30, 2024 June 25, 2023 (In thousands) Operating income U.S. $ 307,988 $ 37,265 $ 487,405 $ 9,159 Europe 23,993 2,513 55,109 27,774 Mexico 108,809 60,719 148,550 94,894 Eliminations — (226) — (213) Total operating income 440,790 100,271 691,064 131,614 Interest expense, net of capitalized interest 31,201 47,152 72,444 89,814 Interest income (15,863) (7,628) (26,209) (11,228) Foreign currency transaction losses (gains) (2,225) 16,395 (6,562) 34,538 Miscellaneous, net 504 (1,331) (2,782) (23,984) Income before income taxes 427,173 45,683 654,173 42,474 Income tax expense (benefit) 100,650 (15,225) 152,712 (24,065) Net income $ 326,523 $ 60,908 $ 501,461 $ 66,539 June 30, 2024 December 31, 2023 (In thousands) Total assets U.S. $ 7,380,365 $ 7,012,211 Europe 4,328,933 4,299,985 Mexico 1,174,684 1,684,711 Eliminations (2,805,525) (3,186,546) Total assets $ 10,078,457 $ 9,810,361 June 30, 2024 December 31, 2023 (In thousands) Long-lived assets (a) U.S. $ 2,104,626 $ 2,085,222 Europe 1,016,836 1,041,857 Mexico 276,326 301,919 Eliminations (3,888) (3,888) Total long-lived assets $ 3,393,900 $ 3,425,110 (a) For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting . Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.

BUSINESS AND SUMMARY OF SIGNI_4

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) bird in Millions	6 Months Ended
	Jun. 30, 2024 employee bird grower country pig
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of countries in which entity exports products | country	110
Number of employees (over) | employee	62,400
Pilgrims Pride Corporation | JBS SA
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership by holding company	82.50%
Chicken
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Maximum processing capacity of employees per week (in animals per week) | bird	41.3
Number of contract growers	4,400
Pork
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Maximum processing capacity of employees per week (in animals per week) | pig	42,750
Number of contract growers	215

BUSINESS AND SUMMARY OF SIGNI_5

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 25, 2023	Dec. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,317,087	$ 697,748
Restricted cash and restricted cash equivalents	17,039	33,475
Total cash, cash equivalents, restricted cash and restricted cash equivalents shown in the Condensed Consolidated Statements of Cash Flows	$ 1,334,126	$ 731,223	$ 777,010	$ 434,759

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 4,559,314	$ 4,308,091	$ 8,921,248	$ 8,473,719
Retail
Disaggregation of Revenue [Line Items]
Net sales	2,354,248	2,158,828	4,695,214	4,283,623
Foodservice
Disaggregation of Revenue [Line Items]
Net sales	1,546,082	1,465,391	2,947,777	2,819,968
Export
Disaggregation of Revenue [Line Items]
Net sales	229,268	256,601	456,517	502,497
Other
Disaggregation of Revenue [Line Items]
Net sales	429,716	427,271	821,740	867,631
Fresh
Disaggregation of Revenue [Line Items]
Net sales	2,997,295	2,746,657	5,812,218	5,367,025
Prepared
Disaggregation of Revenue [Line Items]
Net sales	1,187,712	1,150,223	2,357,218	2,273,109
Export
Disaggregation of Revenue [Line Items]
Net sales	229,268	256,601	456,517	502,497
Other
Disaggregation of Revenue [Line Items]
Net sales	145,039	154,610	295,295	331,088
U.S.
Disaggregation of Revenue [Line Items]
Net sales	2,663,965	2,446,208	5,243,297	4,878,776
U.S. | Retail
Disaggregation of Revenue [Line Items]
Net sales	1,395,222	1,214,658	2,788,799	2,473,528
U.S. | Foodservice
Disaggregation of Revenue [Line Items]
Net sales	1,038,749	959,141	1,998,888	1,853,474
U.S. | Export
Disaggregation of Revenue [Line Items]
Net sales	119,964	139,498	228,762	267,773
U.S. | Other
Disaggregation of Revenue [Line Items]
Net sales	110,030	132,911	226,848	284,001
U.S. | Fresh
Disaggregation of Revenue [Line Items]
Net sales	2,201,918	1,992,208	4,315,541	3,935,994
U.S. | Prepared
Disaggregation of Revenue [Line Items]
Net sales	254,325	221,655	523,315	466,456
U.S. | Export
Disaggregation of Revenue [Line Items]
Net sales	119,964	139,498	228,762	267,773
U.S. | Other
Disaggregation of Revenue [Line Items]
Net sales	87,758	92,847	175,679	208,553
Europe
Disaggregation of Revenue [Line Items]
Net sales	1,301,541	1,310,750	2,569,444	2,550,014
Europe | Retail
Disaggregation of Revenue [Line Items]
Net sales	821,785	820,452	1,634,043	1,585,676
Europe | Foodservice
Disaggregation of Revenue [Line Items]
Net sales	229,800	234,680	431,627	454,007
Europe | Export
Disaggregation of Revenue [Line Items]
Net sales	109,304	117,103	227,755	234,724
Europe | Other
Disaggregation of Revenue [Line Items]
Net sales	140,652	138,515	276,019	275,607
Europe | Fresh
Disaggregation of Revenue [Line Items]
Net sales	286,656	280,707	557,804	545,370
Europe | Prepared
Disaggregation of Revenue [Line Items]
Net sales	877,312	878,720	1,722,308	1,710,449
Europe | Export
Disaggregation of Revenue [Line Items]
Net sales	109,304	117,103	227,755	234,724
Europe | Other
Disaggregation of Revenue [Line Items]
Net sales	28,269	34,220	61,577	59,471
Mexico
Disaggregation of Revenue [Line Items]
Net sales	593,808	551,133	1,108,507	1,044,929
Mexico | Retail
Disaggregation of Revenue [Line Items]
Net sales	137,241	123,718	272,372	224,419
Mexico | Foodservice
Disaggregation of Revenue [Line Items]
Net sales	277,533	271,570	517,262	512,487
Mexico | Export
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Mexico | Other
Disaggregation of Revenue [Line Items]
Net sales	179,034	155,845	318,873	308,023
Mexico | Fresh
Disaggregation of Revenue [Line Items]
Net sales	508,721	473,742	938,873	885,661
Mexico | Prepared
Disaggregation of Revenue [Line Items]
Net sales	56,075	49,848	111,595	96,204
Mexico | Export
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Mexico | Other
Disaggregation of Revenue [Line Items]
Net sales	$ 29,012	$ 27,543	$ 58,039	$ 63,064

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details)	6 Months Ended
	Jun. 30, 2024
Minimum
Disaggregation of Revenue [Line Items]
Payments due period (in days)	14 days
Maximum
Disaggregation of Revenue [Line Items]
Payments due period (in days)	30 days

REVENUE RECOGNITION - Schedul_2

REVENUE RECOGNITION - Schedule of Changes in Revenue Contract Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Movement in Contract with Customer, Liability [Roll Forward]
Balance as of beginning of period	$ 84,958
Revenue recognized	(79,999)
Cash received, excluding amounts recognized as revenue during the period	62,217
Balance as of end of period	$ 67,176

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Outstanding Derivative Instruments and Cash Collateral (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair values:
Cash collateral posted with brokers	$ 17,039	$ 33,475
Corn
Derivatives coverage:
Derivatives coverage (as a percentage)	12.10%	10.90%
Soybean meal
Derivatives coverage:
Derivatives coverage (as a percentage)	17.50%	39.60%
Commodity derivative
Fair values:
Derivative assets	$ 5,176	$ 1,202
Derivative liabilities	(16,594)	(17,118)
Foreign currency derivative
Fair values:
Derivative assets	223	175
Derivative liabilities	(826)	(723)
Sales contract derivative assets
Fair values:
Derivative assets	$ 4,493	$ 960

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Derivative [Line Items]
Gains (Losses) by type of contract	$ (4,708)	$ (30,000)	$ (12,661)	$ (61,473)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net sales	Net sales	Net sales	Net sales
Foreign currency derivatives loss
Derivative [Line Items]
Gains (Losses) by type of contract	$ 0	$ (28,551)	$ 0	$ (47,654)
Commodity derivative gain (loss)
Derivative [Line Items]
Gains (Losses) by type of contract	(6,146)	188	(16,194)	(16,347)
Sales contract derivative gain (loss)
Derivative [Line Items]
Gains (Losses) by type of contract	$ 1,438	$ (1,637)	$ 3,533	$ 2,528

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Derivative [Line Items]
Gain recognized in other comprehensive income on derivative	$ 1,542	$ (1,677)	$ 2,007	$ (1,659)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency derivative gains (losses)
Derivative [Line Items]
Gain recognized in other comprehensive income on derivative	$ 1,545	$ 16	$ 2,000	$ (1,648)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Derivative [Line Items]
Net sales	$ 4,559,314	$ 4,308,091	$ 8,921,248	$ 8,473,719
Cost of sales	3,867,688	4,029,666	7,845,713	8,022,247
Interest expense, net of capitalized interest	31,201	47,152	72,444	89,814
Impact from cash flow hedging relationship	1,020	285	2,061	349
Sales contract | Net sales
Derivative [Line Items]
Net sales	4,559,314	4,308,091	8,921,248	8,473,719
Commodity derivative | Cost of sales
Derivative [Line Items]
Cost of sales	3,867,688	4,029,666	7,845,713	8,022,247
Foreign currency derivative | Interest expense, net of capitalized interest
Derivative [Line Items]
Interest expense, net of capitalized interest	31,201	47,152	72,444	89,814
Foreign currency derivatives | Net sales
Derivative [Line Items]
Impact from cash flow hedging relationship	915	120	1,956	335
Foreign currency derivatives | Cost of sales
Derivative [Line Items]
Impact from cash flow hedging relationship	(105)	56	(105)	(14)
Foreign currency derivatives | Interest expense, net of capitalized interest
Derivative [Line Items]
Impact from cash flow hedging relationship	$ 0	$ 0	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Foreign currency derivative
Derivative [Line Items]
Cash flow hedge loss to be reclassified within twelve months	$ 2

TRADE ACCOUNTS AND OTHER RECE_3

TRADE ACCOUNTS AND OTHER RECEIVABLES - Schedule of Trade Accounts and Other Receivables, and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Trade accounts receivable	$ 1,012,963	$ 1,027,916
Notes receivable from third parties	13,065	51,168
Other receivables	27,409	59,435
Receivables, gross	1,053,437	1,138,519
Allowance for credit losses	(7,577)	(9,341)
Receivables, net	1,045,860	1,129,178
Receivables, Net [Roll Forward]
Balance, beginning of period	(9,341)
Provision released to operating results	1,492
Account write-offs and recoveries	36
Effect of exchange rate	236
Balance, end of period	(7,577)
Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Account receivable from related parties	$ 2,055	$ 1,778

TRADE ACCOUNTS AND OTHER RECE_4

TRADE ACCOUNTS AND OTHER RECEIVABLES - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
JBS USA Food Company
Financing Receivable, Allowance for Credit Loss [Line Items]
Uncommitted facility with a maximum capacity	$ 415

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and work-in-process	$ 1,060,418	$ 1,158,467
Finished products	564,017	642,028
Operating supplies	71,293	75,530
Maintenance materials and parts	110,516	109,374
Total inventories	$ 1,806,244	$ 1,985,399

INVESTMENTS IN SECURITIES (Deta

INVESTMENTS IN SECURITIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Gross realized gains recognized on available-for-sale securities	$ 13,100	$ 4,400	$ 21,100	$ 6,300
Fixed income securities
Debt Securities, Available-for-sale [Line Items]
Cost	1,232,700		1,232,700		$ 324,808
Fair Value	$ 1,232,893		$ 1,232,893		$ 324,947

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill by Segment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,286,261
Currency Translation	(27,976)
Goodwill, ending balance	1,258,285
U.S.
Goodwill [Roll Forward]
Goodwill, beginning balance	41,936
Currency Translation	0
Goodwill, ending balance	41,936
Europe
Goodwill [Roll Forward]
Goodwill, beginning balance	1,116,521
Currency Translation	(10,610)
Goodwill, ending balance	1,105,911
Mexico
Goodwill [Roll Forward]
Goodwill, beginning balance	127,804
Currency Translation	(17,366)
Goodwill, ending balance	$ 110,438

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Indefinite and Finite-Lived Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Accumulated Amortization Rollforward [Roll Forward]
Amortization	$ (16,130)
Intangible Assets (Excluding Goodwill) Rollforward [Rollforward]
Beginning balance	853,983
Amortization	(16,130)
Currency Translation	(8,951)
Ending balance	828,902
Trade names
Indefinite-lived Intangible Assets [Rollforward]
Beginning balance	580,473
Currency Translation	(6,413)
Ending balance	574,060
Trade names
Finite-lived Intangible Assets [Rollforward]
Beginning balance	112,681
Currency Translation	(367)
Ending balance	112,314
Accumulated Amortization Rollforward [Roll Forward]
Beginning balance	(57,762)
Amortization	(1,938)
Currency Translation	52
Ending balance	(59,648)
Intangible Assets (Excluding Goodwill) Rollforward [Rollforward]
Amortization	(1,938)
Customer relationships
Finite-lived Intangible Assets [Rollforward]
Beginning balance	441,719
Currency Translation	(5,805)
Ending balance	435,914
Accumulated Amortization Rollforward [Roll Forward]
Beginning balance	(223,128)
Amortization	(14,192)
Currency Translation	3,582
Ending balance	(233,738)
Intangible Assets (Excluding Goodwill) Rollforward [Rollforward]
Amortization	$ (14,192)

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets Amortization and Estimated Useful Lives (Details)	Jun. 30, 2024
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life (in years)	3 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life (in years)	18 years
Trade names subject to amortization | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life (in years)	15 years
Trade names subject to amortization | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life (in years)	20 years

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Finance lease assets	$ 4,736	$ 5,550
PP&E, gross	6,975,741	6,955,124
Accumulated depreciation	(3,852,713)	(3,796,721)
PP&E, net	$ 3,123,028	$ 3,158,403
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 269,788	$ 273,846
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2,182,470	2,170,716
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	4,043,853	3,953,008
Autos and trucks
Property, Plant and Equipment [Line Items]
Property, plant and equipment	97,873	93,858
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 377,021	$ 458,146

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 99,900	$ 96,400	$ 195,200	$ 186,400
Expenditures on capital projects			200,000	286,600
Completed projects transferred from construction-in-progress to depreciable assets			278,700	174,500
Capital expenditures incurred but not yet paid			33,700		$ 46,900
Proceeds from property disposals	2,300	2,400	4,551	15,008
Gain (loss) on property disposals	(900)	$ 0	(2,715)	$ 9,316
Idled assets property, plant and equipment, net	56,100		56,100
Idled asset property, plant and equipment gross	208,500		208,500
Idled assets, accumulated depreciation	$ 152,400		152,400
Impairment of leasehold improvements			$ 13,400

CURRENT LIABILITIES - Schedule

CURRENT LIABILITIES - Schedule of Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts payable:
Trade accounts payable	$ 1,211,673	$ 1,294,830
Book overdrafts	95,353	90,612
Other payables	30,665	25,134
Revenue contract liabilities	67,176	84,958
Accrued expenses and other current liabilities:
Compensation and benefits	266,223	249,474
Litigation settlements	145,430	73,330
Accrued sales rebates	116,575	104,390
Insurance and self-insured claims	88,259	76,287
Current maturities of operating lease liabilities	62,621	67,440
Interest and debt-related fees	53,549	71,508
Taxes	45,558	37,635
Derivative liabilities	17,419	17,841
Total accrued expenses and other current liabilities	999,075	926,727
Total	2,427,273	2,463,515
Related Party
Accounts payable:
Total accounts payable	23,331	41,254
Nonrelated Party
Accounts payable:
Total accounts payable	1,337,691	1,410,576
Other Litigation Cases
Accrued expenses and other current liabilities:
Other accrued expenses	$ 203,441	$ 228,822

SUPPLIER FINANCE PROGRAMS (Deta

SUPPLIER FINANCE PROGRAMS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Outstanding balance of confirmed invoices	$ 204	$ 192.7
Minimum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing period	65 days
Maximum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing period	120 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 100,650	$ (15,225)	$ 152,712	$ (24,065)
Effective tax rate			23.30%	(56.70%)
Other comprehensive income, tax effect			$ (2,100)	$ (3,200)

DEBT - Schedule of Long-term De

DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands		6 Months Ended
	Aug. 15, 2023	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance lease obligations		$ 2,103	$ 2,486
Long-term debt		3,217,616	3,379,200
Less: Current maturities of long-term debt		(585)	(674)
Long-term debt, less current maturities		3,217,031	3,378,526
Less: Capitalized financing costs		(33,936)	(37,685)
Long-term debt, less current maturities, net of capitalized financing costs		$ 3,183,095	3,340,841
Senior notes payable, net of discount, at 6.875% | Senior Notes
Debt Instrument [Line Items]
Stated interest rate		6.875%
Long-term debt		$ 490,868	490,408
Senior notes payable, net of discount, at 6.25% | Senior Notes
Debt Instrument [Line Items]
Stated interest rate		6.25%
Long-term debt		$ 974,052	993,595
Senior notes payable at 3.50% | Senior Notes
Debt Instrument [Line Items]
Stated interest rate		3.50%
Long-term debt		$ 900,000	900,000
Senior notes payable, net of discount, at 4.25% | Senior Notes
Debt Instrument [Line Items]
Stated interest rate		4.25%
Long-term debt		$ 850,593	992,711
U.S. Credit Facility (defined below) at SOFR plus $1.35% | Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 0	0
U.S. Credit Facility (defined below) at SOFR plus $1.35% | Credit Facility | Minimum
Debt Instrument [Line Items]
Stated interest rate		1.35%
Europe Credit Facility (defined below) with notes payable at SONIA plus $1.25% | Credit Facility | SONIA Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate		1.25%
Long-term debt		$ 0	0
Mexico Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long-term debt		0	$ 0
Mexico Credit Facility | Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 0
Mexico Credit Facility | Credit Facility | Credit Facility | TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.35%	1.35%

DEBT - Narrative (Details)

DEBT - Narrative (Details)		3 Months Ended	6 Months Ended
	Aug. 15, 2023 MXN ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	May 01, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 04, 2023 USD ($)	Jun. 24, 2022 GBP (£)
Mexico Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 0	$ 0		$ 0
Senior Notes | Bond Repurchase Program
Debt Instrument [Line Items]
Long-term debt				$ 200,000,000
Gross realized gains		13,700,000
Discount and capitalized financing costs				1,100,000
Repurchase amount				$ 1,200,000
Senior Notes | Bond Repurchase Program Senior Notes due 2031
Debt Instrument [Line Items]
Long-term debt		143,600,000	143,600,000
Senior Notes | Bond Repurchase Program Senior Notes due 2033
Debt Instrument [Line Items]
Long-term debt		20,000,000	20,000,000
Credit Facility | 2021 US Credit Facility
Debt Instrument [Line Items]
Outstanding borrowings		0	0
Credit Facility | 2021 US Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 850,000,000
Current borrowing capacity		825,200,000	825,200,000
Credit Facility | 2021 US Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Current borrowing capacity		24,800,000	24,800,000
Credit Facility | Moy Park Bank Of Ireland Revolving Facility | Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity | £							£ 150,000,000
Credit Facility | Bank Of Ireland Revolving Facility, Due 2023 | Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		189,700,000	189,700,000
Credit Facility | U.K. and Europe Revolving Facility | Credit Facility
Debt Instrument [Line Items]
Outstanding borrowings		0	0
Credit Facility | Mexico Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long-term debt		0	0
Maximum borrowing capacity	$ 1,100,000,000
Current borrowing capacity		$ 60,600,000	$ 60,600,000
Credit Facility | Mexico Credit Facility | Credit Facility | TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.35%		1.35%

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	$ 3,494,378	$ 2,906,520	$ 3,344,577	$ 2,853,276
Other comprehensive income (loss) before reclassifications			(106,329)	149,443
Amounts reclassified from accumulated other comprehensive loss (gain) to net income			(1,977)	15
Currency translation			399	(352)
Total other comprehensive income (loss), net of tax	(78,026)	102,700	(107,907)	149,106
Balance, end of period	3,745,481	3,072,588	3,745,481	3,072,588
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	(206,364)	(290,042)	(176,483)	(336,448)
Total other comprehensive income (loss), net of tax	(78,026)	102,700	(107,907)	149,106
Balance, end of period	(284,390)	(187,342)	(284,390)	(187,342)
Losses Related to Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(114,850)	(269,825)
Other comprehensive income (loss) before reclassifications			(114,136)	143,925
Amounts reclassified from accumulated other comprehensive loss (gain) to net income			0	0
Currency translation			0	0
Total other comprehensive income (loss), net of tax			(114,136)	143,925
Balance, end of period	(228,986)	(125,900)	(228,986)	(125,900)
Losses on Derivative Financial Instruments Classified as Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(1,914)	(1,162)
Other comprehensive income (loss) before reclassifications			2,000	(1,648)
Amounts reclassified from accumulated other comprehensive loss (gain) to net income			(2,061)	(349)
Currency translation			7	(11)
Total other comprehensive income (loss), net of tax			(54)	(2,008)
Balance, end of period	(1,968)	(3,170)	(1,968)	(3,170)
Losses Related to Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(59,714)	(65,447)
Other comprehensive income (loss) before reclassifications			5,692	7,207
Amounts reclassified from accumulated other comprehensive loss (gain) to net income			261	342
Currency translation			392	(341)
Total other comprehensive income (loss), net of tax			6,345	7,208
Balance, end of period	(53,369)	(58,239)	(53,369)	(58,239)
Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period			(5)	(14)
Other comprehensive income (loss) before reclassifications			115	(41)
Amounts reclassified from accumulated other comprehensive loss (gain) to net income			(177)	22
Currency translation			0	0
Total other comprehensive income (loss), net of tax			(62)	(19)
Balance, end of period	$ (67)	$ (33)	$ (67)	$ (33)

STOCKHOLDERS' EQUITY - Schedu_2

STOCKHOLDERS' EQUITY - Schedule of Reclassification from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Net sales	$ 4,559,314	$ 4,308,091	$ 8,921,248	$ 8,473,719
Cost of sales	(3,867,688)	(4,029,666)	(7,845,713)	(8,022,247)
Interest income	15,863	7,628	26,209	11,228
Miscellaneous, net	(504)	1,331	2,782	23,984
Tax benefit	(100,650)	15,225	(152,712)	24,065
Net income	$ 326,523	$ 60,908	501,461	66,539
Amount Reclassified from Accumulated Other Comprehensive Loss
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Total before tax			1,951	(128)
Tax benefit			26	113
Net income			1,977	(15)
Amount Reclassified from Accumulated Other Comprehensive Loss | Realized gains on settlement of foreign currency derivatives classified as cash flow hedges
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Net sales			1,956	335
Cost of sales			105	14
Amount Reclassified from Accumulated Other Comprehensive Loss | Realized gains (losses) on sale of securities
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Interest income			234	(29)
Amount Reclassified from Accumulated Other Comprehensive Loss | Amortization of pension and other postretirement plan actuarial losses
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Miscellaneous, net			$ (344)	$ (448)

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)	Jun. 30, 2024 $ / shares shares
Equity [Abstract]
Preferred stock, shares authorized (in shares)	50,000,000
Preferred stock, par value (in usd per share) | $ / shares	$ 0.01
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 25, 2023 USD ($)	Jun. 30, 2024 USD ($) plan	Jun. 25, 2023 USD ($)	Dec. 31, 2023 USD ($)
Change in projected benefit obligation
Retirement plan expenses | $	$ 7.4	$ 7.8	$ 18.6	$ 15.4
Expenses related to defined contribution plans | $	7.6		$ 17.5
U.S.
Change in projected benefit obligation
Number of defined contribution plans | plan			2
Mexico
Change in projected benefit obligation
Number of defined contribution plans | plan			3
Europe
Change in projected benefit obligation
Number of defined contribution plans | plan			7
Pension Benefits
Change in projected benefit obligation
Accumulated benefit obligation, defined benefit pension plans | $	$ 224.9		$ 224.9		$ 237.5

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Schedule of Defined Benefit Plan Obligations and Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023	Dec. 31, 2023	Dec. 25, 2022
Pension Benefits
Change in projected benefit obligation
Projected benefit obligation, beginning of period			$ 237,508	$ 236,147
Interest cost	$ 2,683	$ 2,783	4,949	5,097
Actuarial gain			(10,243)	(11,029)
Benefits paid			(7,273)	(7,437)
Currency translation loss (gain)			(7)	3,018
Projected benefit obligation, end of period	224,934	225,796	224,934	225,796
Change in plan assets
Fair value of plan assets, beginning of period			225,451	210,133
Actual return on plan assets			2,931	3,972
Contributions by employer			3,431	3,249
Benefits paid			(7,273)	(7,437)
Expenses paid from assets			(192)	(146)
Currency translation gain			50	2,700
Fair value of plan assets, end of period	224,398	212,471	224,398	212,471
Funded status
Unfunded benefit obligation, end of period	(536)		(536)		$ (12,057)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period
Noncurrent asset	1,593		1,593		0
Current liability	(237)		(237)		(7,717)
Long-term liability	(1,892)		(1,892)		(4,340)
Net financial position	(536)		(536)		(12,057)
Amounts recognized in accumulated other comprehensive loss at end of period
Net actuarial loss (gain)	31,779	37,731	31,779	37,731	40,487	$ 48,121
Other Benefits
Change in projected benefit obligation
Projected benefit obligation, beginning of period			1,160	1,169
Interest cost	13	13	22	22
Actuarial gain			(19)	(8)
Benefits paid			(78)	(73)
Currency translation loss (gain)			0	0
Projected benefit obligation, end of period	1,085	1,110	1,085	1,110
Change in plan assets
Fair value of plan assets, beginning of period			0	0
Actual return on plan assets			0	0
Contributions by employer			78	73
Benefits paid			(78)	(73)
Expenses paid from assets			0	0
Currency translation gain			0	0
Fair value of plan assets, end of period	0	0	0	0
Funded status
Unfunded benefit obligation, end of period	(1,085)		(1,085)		(1,160)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period
Noncurrent asset	0		0		0
Current liability	(187)		(187)		(187)
Long-term liability	(898)		(898)		(973)
Net financial position	(1,085)		(1,085)		(1,160)
Amounts recognized in accumulated other comprehensive loss at end of period
Net actuarial loss (gain)	$ (106)	$ (74)	$ (106)	$ (74)	$ (87)	$ (66)

PENSION AND OTHER POSTRETIREM_5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Schedule of Net Defined Benefit Pension and Other Postretirement Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Pension Benefits
Change in projected benefit obligation
Interest cost	$ 2,683	$ 2,783	$ 4,949	$ 5,097
Estimated return on plan assets	(2,756)	(2,531)	(5,203)	(4,753)
Expenses paid from assets	132	52	192	146
Amortization of net loss	199	261	335	440
Amortization of past service cost	5	4	9	8
Net costs	263	569	282	938
Other Benefits
Change in projected benefit obligation
Interest cost	13	13	22	22
Estimated return on plan assets	0	0	0	0
Expenses paid from assets	0	0	0	0
Amortization of net loss	0	0	0	0
Amortization of past service cost	0	0	0	0
Net costs	$ 13	$ 13	$ 22	$ 22

PENSION AND OTHER POSTRETIREM_6

PENSION AND OTHER POSTRETIREMENT BENEFITS - Schedule of Economic Assumptions and Impact of Change in Discount Rate on Benefit Obligation (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Dec. 31, 2023
Pension Benefits
Assumptions used to measure benefit obligation at end of period
Discount rate	5.34%		4.81%
Assumptions used to measure net pension and other postretirement cost
Discount rate	4.84%	5.05%
Expected return on plan assets	5.07%	4.98%
Other Benefits
Assumptions used to measure benefit obligation at end of period
Discount rate	5.47%		5.06%
Assumptions used to measure net pension and other postretirement cost
Discount rate	5.06%	5.16%

PENSION AND OTHER POSTRETIREM_7

PENSION AND OTHER POSTRETIREMENT BENEFITS - Schedule of Unrecognized Benefit Amounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023
Pension Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period	$ 40,487	$ 48,121
Amortization	(344)	(448)
Actuarial gain	(10,244)	(11,029)
Asset loss	2,271	781
Currency translation loss (gain)	(391)	306
Net actuarial loss (gain), end of period	31,779	37,731
Other Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period	(87)	(66)
Amortization	0	0
Actuarial gain	(19)	(8)
Asset loss	0	0
Currency translation loss (gain)	0	0
Net actuarial loss (gain), end of period	$ (106)	$ (74)

FAIR VALUE MEASUREMENT - Schedu

FAIR VALUE MEASUREMENT - Schedule of Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 1,232,893	$ 324,947
Fixed income securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,232,893	324,947
Fixed income securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Commodity derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5,176	1,202
Derivative liabilities	(16,594)	(17,118)
Commodity derivative | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5,176	1,202
Derivative liabilities	(16,594)	(17,118)
Commodity derivative | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Foreign currency derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	223	175
Derivative liabilities	(826)	(723)
Foreign currency derivative | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	223	175
Derivative liabilities	(826)	(723)
Foreign currency derivative | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Sales contract derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	4,493	960
Sales contract derivative liabilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Sales contract derivative liabilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 4,493	$ 960

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Carrying Amounts and Estimated Fair Values of Fixed-Rate Debt Obligation (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed-rate senior notes payable at 3.50%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.50%
Fixed-rate senior notes payable at 4.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.25%
Fixed-rate senior notes payable at 6.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.25%
Fixed-rate senior notes payable at $6.875%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.875%
Level 2 | Carrying Amount | Fixed-rate senior notes payable at 3.50%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (900,000)	$ (900,000)
Level 2 | Carrying Amount | Fixed-rate senior notes payable at 4.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(850,593)	(992,711)
Level 2 | Carrying Amount | Fixed-rate senior notes payable at 6.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(974,052)	(993,595)
Level 2 | Carrying Amount | Fixed-rate senior notes payable at $6.875%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(490,868)	(490,408)
Level 2 | Fair Value | Fixed-rate senior notes payable at 3.50%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(761,616)	(760,203)
Level 2 | Fair Value | Fixed-rate senior notes payable at 4.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(779,956)	(902,650)
Level 2 | Fair Value | Fixed-rate senior notes payable at 6.25%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	(994,896)	(1,029,020)
Level 2 | Fair Value | Fixed-rate senior notes payable at $6.875%, at Level 2 inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate debt obligation	$ (530,400)	$ (540,230)

RESTRUCTURING-RELATED ACTIVIT_3

RESTRUCTURING-RELATED ACTIVITIES - Schedule of Expected Future Restructuring Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	$ 147,382
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	Total exit and disposal costs (b)
Costs incurred since earliest implementation date:	$ 126,046
Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	104,313
Costs incurred since earliest implementation date:	83,066
Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	21,029
Costs incurred since earliest implementation date:	21,029
Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	1,059
Costs incurred since earliest implementation date:	1,059
Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	20,981
Costs incurred since earliest implementation date:	20,892
Moy Park
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	21,072
Costs incurred since earliest implementation date:	21,072
Moy Park | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	11,103
Costs incurred since earliest implementation date:	11,103
Moy Park | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	3,476
Costs incurred since earliest implementation date:	3,476
Moy Park | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	248
Costs incurred since earliest implementation date:	248
Moy Park | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	6,245
Costs incurred since earliest implementation date:	6,245
Pilgrim’s Pride Ltd.
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	33,162
Costs incurred since earliest implementation date:	33,162
Pilgrim’s Pride Ltd. | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	20,444
Costs incurred since earliest implementation date:	20,444
Pilgrim’s Pride Ltd. | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	7,111
Costs incurred since earliest implementation date:	7,111
Pilgrim’s Pride Ltd. | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	263
Costs incurred since earliest implementation date:	263
Pilgrim’s Pride Ltd. | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	5,344
Costs incurred since earliest implementation date:	5,344
Pilgrim’s Food Masters 2022
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	24,961
Costs incurred since earliest implementation date:	24,961
Pilgrim’s Food Masters 2022 | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	14,490
Costs incurred since earliest implementation date:	14,490
Pilgrim’s Food Masters 2022 | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	4,141
Costs incurred since earliest implementation date:	4,141
Pilgrim’s Food Masters 2022 | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	0
Costs incurred since earliest implementation date:	0
Pilgrim’s Food Masters 2022 | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	6,330
Costs incurred since earliest implementation date:	6,330
Pilgrim’s Food Masters 2023
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	3,027
Costs incurred since earliest implementation date:	3,027
Pilgrim’s Food Masters 2023 | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	3,027
Costs incurred since earliest implementation date:	3,027
Pilgrim’s Food Masters 2023 | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	0
Costs incurred since earliest implementation date:	0
Pilgrim’s Food Masters 2023 | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	0
Costs incurred since earliest implementation date:	0
Pilgrim’s Food Masters 2023 | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	0
Costs incurred since earliest implementation date:	0
Pilgrim’s Food Masters 2024
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	37,481
Costs incurred since earliest implementation date:	19,652
Pilgrim’s Food Masters 2024 | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	30,052
Costs incurred since earliest implementation date:	12,223
Pilgrim’s Food Masters 2024 | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	4,477
Costs incurred since earliest implementation date:	4,477
Pilgrim’s Food Masters 2024 | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	548
Costs incurred since earliest implementation date:	548
Pilgrim’s Food Masters 2024 | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	2,404
Costs incurred since earliest implementation date:	2,404
Pilgrim’s Europe Central
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	27,679
Costs incurred since earliest implementation date:	24,172
Pilgrim’s Europe Central | Employee-related costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	25,197
Costs incurred since earliest implementation date:	21,779
Pilgrim’s Europe Central | Asset impairment costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	1,824
Costs incurred since earliest implementation date:	1,824
Pilgrim’s Europe Central | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	0
Costs incurred since earliest implementation date:	0
Pilgrim’s Europe Central | Other exit and disposal costs
Restructuring Cost and Reserve [Line Items]
Costs incurred and expected to be incurred:	658
Costs incurred since earliest implementation date:	$ 569

RESTRUCTURING-RELATED ACTIVIT_4

RESTRUCTURING-RELATED ACTIVITIES - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Restructuring Cost and Reserve [Line Items]
Expenses	$ 36,675	$ 29,718	$ 51,234	$ 37,744
Cash Outlays			29,536
Moy Park
Restructuring Cost and Reserve [Line Items]
Expenses			0
Cash Outlays			659
Pilgrim’s Pride Ltd.
Restructuring Cost and Reserve [Line Items]
Expenses			7,410
Cash Outlays			704
Pilgrim’s Food Masters 2022
Restructuring Cost and Reserve [Line Items]
Expenses			0
Cash Outlays			1,625
Pilgrim’s Food Masters 2023
Restructuring Cost and Reserve [Line Items]
Expenses			0
Cash Outlays			2,140
Pilgrim’s Food Masters 2024
Restructuring Cost and Reserve [Line Items]
Expenses			19,652
Cash Outlays			4,925
Pilgrim’s Europe Central
Restructuring Cost and Reserve [Line Items]
Expenses			24,172
Cash Outlays			$ 19,483

RESTRUCTURING-RELATED ACTIVIT_5

RESTRUCTURING-RELATED ACTIVITIES - Schedule of Restructuring Reserve (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Cash payments and disposals	$ (29,536)
Moy Park
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	2,788
Restructuring charges incurred	0
Cash payments and disposals	(659)
Currency translation	(22)
Liability or reserve as of June 30, 2024	2,107
Moy Park | Contract termination
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	144
Restructuring charges incurred	0
Cash payments and disposals	0
Currency translation	(1)
Liability or reserve as of June 30, 2024	143
Moy Park | Other charges
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	2,644
Restructuring charges incurred	0
Cash payments and disposals	(659)
Currency translation	(21)
Liability or reserve as of June 30, 2024	1,964
Pilgrim’s Pride Ltd.
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	1,979
Restructuring charges incurred	7,410
Cash payments and disposals	(8,247)
Currency translation	(15)
Liability or reserve as of June 30, 2024	1,127
Pilgrim’s Pride Ltd. | Employee retention benefits
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	35
Restructuring charges incurred	(35)
Cash payments and disposals	0
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Pride Ltd. | Severance
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	734
Restructuring charges incurred	380
Cash payments and disposals	(550)
Currency translation	(4)
Liability or reserve as of June 30, 2024	560
Pilgrim’s Pride Ltd. | Asset impairment costs
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	7,111
Cash payments and disposals	(7,111)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Pride Ltd. | Inventory adjustments
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	294
Restructuring charges incurred	141
Cash payments and disposals	(432)
Currency translation	(3)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Pride Ltd. | Lease termination
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	164
Restructuring charges incurred	372
Cash payments and disposals	(93)
Currency translation	0
Liability or reserve as of June 30, 2024	443
Pilgrim’s Pride Ltd. | Other charges
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	752
Restructuring charges incurred	(559)
Cash payments and disposals	(61)
Currency translation	(8)
Liability or reserve as of June 30, 2024	124
Pilgrim’s Food Masters 2022
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	3,320
Restructuring charges incurred	0
Cash payments and disposals	(2,972)
Currency translation	(15)
Liability or reserve as of June 30, 2024	333
Pilgrim’s Food Masters 2022 | Severance
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	1,281
Restructuring charges incurred	0
Cash payments and disposals	(1,276)
Currency translation	(5)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2022 | Inventory adjustments
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	65
Restructuring charges incurred	0
Cash payments and disposals	(63)
Currency translation	(2)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2022 | Lease termination
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	1,289
Restructuring charges incurred	0
Cash payments and disposals	(1,284)
Currency translation	(5)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2022 | Other charges
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	685
Restructuring charges incurred	0
Cash payments and disposals	(349)
Currency translation	(3)
Liability or reserve as of June 30, 2024	333
Pilgrim’s Food Masters 2023
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	2,158
Restructuring charges incurred	0
Cash payments and disposals	(2,140)
Currency translation	(18)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2023 | Employee retention benefits
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	522
Restructuring charges incurred	0
Cash payments and disposals	(517)
Currency translation	(5)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2023 | Severance
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	1,636
Restructuring charges incurred	0
Cash payments and disposals	(1,623)
Currency translation	(13)
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2024
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	19,652
Cash payments and disposals	(9,950)
Currency translation	19
Liability or reserve as of June 30, 2024	9,721
Pilgrim’s Food Masters 2024 | Employee retention benefits
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	212
Cash payments and disposals	0
Currency translation	0
Liability or reserve as of June 30, 2024	212
Pilgrim’s Food Masters 2024 | Severance
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	12,011
Cash payments and disposals	(3,949)
Currency translation	16
Liability or reserve as of June 30, 2024	8,078
Pilgrim’s Food Masters 2024 | Asset impairment costs
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	4,477
Cash payments and disposals	(4,477)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2024 | Lease termination
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	548
Cash payments and disposals	(548)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Food Masters 2024 | Other charges
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	2,404
Cash payments and disposals	(976)
Currency translation	3
Liability or reserve as of June 30, 2024	1,431
Pilgrim’s Europe Central
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	24,172
Cash payments and disposals	(21,315)
Currency translation	(125)
Liability or reserve as of June 30, 2024	2,732
Pilgrim’s Europe Central | Employee retention benefits
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	12
Cash payments and disposals	(12)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Europe Central | Severance
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	21,767
Cash payments and disposals	(18,914)
Currency translation	(121)
Liability or reserve as of June 30, 2024	2,732
Pilgrim’s Europe Central | Asset impairment costs
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	1,824
Cash payments and disposals	(1,824)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Europe Central | Lease termination
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	8
Cash payments and disposals	(8)
Currency translation	0
Liability or reserve as of June 30, 2024	0
Pilgrim’s Europe Central | Other charges
Restructuring Reserve [Roll Forward]
Liability or reserve as of December 31, 2023	0
Restructuring charges incurred	561
Cash payments and disposals	(557)
Currency translation	(4)
Liability or reserve as of June 30, 2024	$ 0

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023	Dec. 31, 2023
Related Party
Related Party Transaction [Line Items]
Sales to related parties	$ 9,531	$ 10,549	$ 16,662	$ 19,885
Cost of goods purchased from related parties	51,668	88,970	102,277	149,869
Expenditures paid by related parties	24,916	46,119	42,687	60,142
Expenditures paid on behalf of related parties	4,563	9,540	7,252	12,924
Accounts receivable from related parties	2,055		2,055		$ 1,778
Accounts payable to related parties	23,331		23,331		41,254
JBS USA Food Company
Related Party Transaction [Line Items]
Sales to related parties	8,263	9,012	13,637	16,524
Cost of goods purchased from related parties	41,862	78,509	82,186	128,414
Expenditures paid by related parties	24,916	46,104	42,687	60,127
Expenditures paid on behalf of related parties	4,563	9,540	7,252	12,919
Accounts receivable from related parties	1,541		1,541		967
Accounts payable to related parties	14,320		14,320		34,038
JBS Chile Ltd.
Related Party Transaction [Line Items]
Sales to related parties	759	182	1,946	1,128
Accounts receivable from related parties	379		379		0
Seara Meat B.V.
Related Party Transaction [Line Items]
Cost of goods purchased from related parties	4,873	4,638	10,268	9,638
Accounts payable to related parties	5,204		5,204		2,252
JBS Asia Co Limited
Related Party Transaction [Line Items]
Accounts payable to related parties	2,454		2,454		2,254
Penasul UK LTD
Related Party Transaction [Line Items]
Cost of goods purchased from related parties	2,970	4,103	6,500	8,290
Other related parties
Related Party Transaction [Line Items]
Sales to related parties	509	1,355	1,079	2,233
Cost of goods purchased from related parties	1,963	1,720	3,323	3,527
Expenditures paid by related parties	0	15	0	15
Expenditures paid on behalf of related parties	0	$ 0	0	$ 5
Accounts receivable from related parties	135		135		811
Accounts payable to related parties	$ 1,353		$ 1,353		$ 2,710

REPORTABLE SEGMENTS - Narrative

REPORTABLE SEGMENTS - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable business segments	3

REPORTABLE SEGMENTS - Schedule

REPORTABLE SEGMENTS - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 30, 2024	Jun. 25, 2023
Segment Reporting Information [Line Items]
Net sales	$ 4,559,314	$ 4,308,091	$ 8,921,248	$ 8,473,719
Reportable segment profit (loss)	440,790	100,271	691,064	131,614
Interest expense, net of capitalized interest	31,201	47,152	72,444	89,814
Interest income	(15,863)	(7,628)	(26,209)	(11,228)
Foreign currency transaction losses (gains)	(2,225)	16,395	(6,562)	34,538
Miscellaneous, net	504	(1,331)	(2,782)	(23,984)
Income before income taxes	427,173	45,683	654,173	42,474
Income tax expense (benefit)	100,650	(15,225)	152,712	(24,065)
Net income	326,523	60,908	501,461	66,539
Sales contract derivative liabilities | Net sales
Segment Reporting Information [Line Items]
Net sales	4,559,314	4,308,091	8,921,248	8,473,719
Eliminations
Segment Reporting Information [Line Items]
Reportable segment profit (loss)	0	(226)	0	(213)
U.S.
Segment Reporting Information [Line Items]
Net sales	2,663,965	2,446,208	5,243,297	4,878,776
U.S. | Operating Segments
Segment Reporting Information [Line Items]
Reportable segment profit (loss)	307,988	37,265	487,405	9,159
Europe
Segment Reporting Information [Line Items]
Net sales	1,301,541	1,310,750	2,569,444	2,550,014
Europe | Operating Segments
Segment Reporting Information [Line Items]
Reportable segment profit (loss)	23,993	2,513	55,109	27,774
Mexico
Segment Reporting Information [Line Items]
Net sales	593,808	551,133	1,108,507	1,044,929
Mexico | Operating Segments
Segment Reporting Information [Line Items]
Reportable segment profit (loss)	108,809	60,719	148,550	94,894
Mexico | Eliminations
Segment Reporting Information [Line Items]
Net sales	$ 29,000	$ 33,800	$ 76,900	$ 64,900

REPORTABLE SEGMENTS - Schedul_2

REPORTABLE SEGMENTS - Schedule of Segment Reporting, Goodwill and Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets by reportable segment	$ 10,078,457	$ 9,810,361
Long-lived assets by reportable segment	3,393,900	3,425,110
Operating Segments | U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets by reportable segment	7,380,365	7,012,211
Long-lived assets by reportable segment	2,104,626	2,085,222
Operating Segments | Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets by reportable segment	4,328,933	4,299,985
Long-lived assets by reportable segment	1,016,836	1,041,857
Operating Segments | Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets by reportable segment	1,174,684	1,684,711
Long-lived assets by reportable segment	276,326	301,919
Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets by reportable segment	(2,805,525)	(3,186,546)
Long-lived assets by reportable segment	$ (3,888)	$ (3,888)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)			2 Months Ended	6 Months Ended	12 Months Ended	94 Months Ended
	Jul. 10, 2024 USD ($)	Jun. 24, 2024 USD ($)	Oct. 16, 2019 USD ($)	Jun. 30, 2024 USD ($) tax_assessment	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) tax_assessment class_action
Loss Contingencies [Line Items]
Loss contingency, number of tax assessments | tax_assessment				2		2
Loss contingency, loss in period				$ 0
Foreign Tax Authority | Mexican Tax Authority
Loss Contingencies [Line Items]
Estimate of possible loss				269,600,000		$ 269,600,000
Mexico | Foreign Tax Authority | Mexican Tax Authority
Loss Contingencies [Line Items]
Accrued taxes				15,900,000		$ 15,900,000
Mexico | Foreign Tax Authority | Mexican Tax Authority | Settled Litigation
Loss Contingencies [Line Items]
Tax settlement amount					$ 25,900,000
Broiler Chicken Antitrust Litigation | Settled Litigation
Loss Contingencies [Line Items]
Number of certified classes | class_action						3
Amount awarded to other party						$ 195,500,000
Settlement expense						537,400,000
Settlement in principal		$ 100,000,000
Jien v. Perdue Farms, Inc. and Earnest v. Perdue Farms, Inc. et al | Settled Litigation
Loss Contingencies [Line Items]
Amount awarded to other party			$ 29,000,000
State of New Mexico v. Koch Foods, et all And State of Alaska v. Agri Stat, Inc., et al, And State of Washingtong v. Tyson Foods, Inc., et al | Settled Litigation | Damages from Product Defects | Subsequent Event
Loss Contingencies [Line Items]
Settlement expense	$ 1,250,000
Washington v. Tyson Foods Inc | Settled Litigation | Damages from Product Defects
Loss Contingencies [Line Items]
Accrual				$ 5,200,000		$ 5,200,000