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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 27, 2016	Apr. 27, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 27, 2016
Entity Registrant Name	PILGRIMS PRIDE CORP
Entity Central Index Key	0000802481
Current Fiscal Year End Date	--12-25
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2016
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		254,537,287

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 574,888	$ 439,638
Trade accounts and other receivables, less allowance for doubtful accounts	347,401	348,994
Account receivable from related parties	6,155	2,668
Inventories	778,528	801,357
Income taxes receivable	24,105	71,410
Prepaid expenses and other current assets	76,210	75,602
Assets held for sale	6,555	6,555
Total current assets	1,813,842	1,746,224
Other long-lived assets	15,982	15,672
Identified intangible assets, net	44,458	47,453
Goodwill	161,578	156,565
Property, plant and equipment, net	1,350,890	1,352,529
Total assets	3,386,750	3,318,443
Notes payable to banks	21,577	28,726
Accounts payable	471,952	482,954
Account payable to related parties	1,654	7,000
Accrued expenses and other current liabilities	279,249	314,966
Income taxes payable	20,810	13,228
Current deferred tax liabilities	0	0
Current maturities of long-term debt	88	86
Total current liabilities	795,330	846,960
Long-term debt, less current maturities	986,400	985,509
Deferred tax liabilities	132,755	131,882
Other long-term liabilities	101,076	92,282
Total liabilities	2,015,561	2,056,633
Common stock	2,597	2,597
Treasury stock	(101,890)	(99,233)
Additional paid-in capital	1,676,554	1,675,674
Retained earnings (accumulated deficit)	(142,881)	(261,252)
Accumulated other comprehensive loss	(65,785)	(58,930)
Total Pilgrim’s Pride Corporation stockholders’ equity	1,368,595	1,258,856
Noncontrolling interest	2,594	2,954
Total stockholders’ equity	1,371,189	1,261,810
Total liabilities and stockholders’ equity	$ 3,386,750	$ 3,318,443

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Income Statement [Abstract]
Net sales	$ 1,962,937	$ 2,052,919
Cost of sales	1,725,375	1,675,799
Gross profit	237,562	377,120
Selling, general and administrative expense	48,788	49,507
Operating income	188,774	327,613
Interest expense, net of capitalized interest	12,033	4,855
Interest income	(693)	(1,490)
Foreign currency transaction loss (gain)	(235)	8,974
Miscellaneous, net	(2,946)	(413)
Income before income taxes	180,615	315,687
Income tax expense	62,604	111,494
Net income	118,011	204,193
Less: Net loss attributable to noncontrolling interests	(360)	(22)
Net income attributable to Pilgrim’s Pride Corporation	$ 118,371	$ 204,215
Weighted average shares of common stock outstanding:
Basic (in shares)	254,807	259,653
Effect of dilutive common stock equivalents (in shares)	340	276
Diluted (in shares)	255,147	259,929
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:
Basic (usd per share)	$ 0.46	$ 0.79
Diluted (usd per share)	$ 0.46	$ 0.79

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 118,011	$ 204,193
Other comprehensive income (loss):
Gain (loss) associated with available-for-sale securities, net of tax benefit (expense) of $(18) and $12, respectively	30	(19)
Loss associated with pension and other postretirement benefits, net of tax benefit of $4,176 and $1,255, respectively	(6,885)	(2,069)
Total other comprehensive loss, net of tax	(6,855)	(2,088)
Comprehensive income	111,156	202,105
Less: Comprehensive income (loss) attributable to noncontrolling interests	(360)	(22)
Comprehensive income attributable to Pilgrim’s Pride Corporation	$ 111,516	$ 202,127

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Statement of Comprehensive Income [Abstract]
Gain (loss) associated with available-for-sale securities, tax benefit (expense)	$ (18)	$ 12
Gain (loss) associated with pension and other postretirement benefits, tax benefit	$ 4,176	$ 1,255

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
Balance, shares at Dec. 28, 2014		259,029	0
Balance at Dec. 28, 2014	$ 2,196,801,000	$ 2,590,000	$ 0	$ 1,662,354,000	$ 591,492,000	$ (62,541,000)	$ 2,906,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	204,193,000				204,215,000		(22,000)
Other comprehensive loss, net of tax	(2,088,000)					(2,088,000)
Share-based compensation plans:
Common stock issued under compensation plans (in shares)		671
Common stock issued under compensation plans	0	$ 7,000		(7,000)
Requisite service period recognition	797,000			797,000
Tax benefit related to share-based compensation	7,834,000			7,834,000
Special cash dividend	(1,498,470,000)				(1,498,470,000)
Balance, shares at Mar. 29, 2015		259,700	0
Balance at Mar. 29, 2015	909,067,000	$ 2,597,000	$ 0	1,670,978,000	(702,763,000)	(64,629,000)	2,884,000
Balance, shares at Dec. 27, 2015		259,685	4,862
Balance at Dec. 27, 2015	1,261,810,000	$ 2,597,000	$ (99,233,000)	1,675,674,000	(261,252,000)	(58,930,000)	2,954,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	118,011,000				118,371,000		(360,000)
Other comprehensive loss, net of tax	(6,855,000)					(6,855,000)
Share-based compensation plans:
Requisite service period recognition	880,000			880,000
Tax benefit related to share-based compensation				0
Common stock purchased under share repurchase program (in shares)			(113)
Common stock purchased under share repurchase program	(2,657,000)		$ (2,657,000)
Balance, shares at Mar. 27, 2016		259,685	4,975
Balance at Mar. 27, 2016	$ 1,371,189,000	$ 2,597,000	$ (101,890,000)	$ 1,676,554,000	$ (142,881,000)	$ (65,785,000)	$ 2,594,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Cash flows from operating activities:
Net income	$ 118,011	$ 204,193
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	42,391	36,152
Foreign currency transaction loss	0	12,074
Gain on property disposals	(129)	(881)
Share-based compensation	880	797
Deferred income tax benefit	(215)	(2,408)
Changes in operating assets and liabilities:
Trade accounts and other receivables	(1,894)	13,289
Inventories	22,829	(2,313)
Prepaid expenses and other current assets	(608)	9,294
Accounts payable, accrued expenses and other current liabilities	(55,990)	(28,702)
Income taxes	55,261	50,639
Long-term pension and other postretirement obligations	(2,311)	1,617
Other operating assets and liabilities	(362)	2,335
Cash provided by operating activities	177,863	296,086
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(37,074)	(32,591)
Proceeds from property disposals	610	867
Cash used in investing activities	(36,464)	(31,724)
Cash flows from financing activities:
Proceeds from note payable to bank	8,885	0
Payments on note payable to bank	(16,034)	0
Proceeds from revolving line of credit and long-term borrowings	0	1,680,000
Payments on revolving line of credit, long-term borrowings and capital lease obligations	(21)	(533,669)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation	3,691	0
Tax benefit related to share-based compensation	0	7,834
Payment of capitalized loan costs	(13)	(8,862)
Purchase of common stock under share repurchase program	(2,657)	0
Payment of special cash dividends	0	(1,498,470)
Cash used in financing activities	(6,149)	(353,167)
Effect of exchange rate changes on cash and cash equivalents	0	(9,301)
Increase (decrease) in cash and cash equivalents	135,250	(98,106)
Cash and cash equivalents, beginning of period	439,638	576,143
Cash and cash equivalents, end of period	$ 574,888	$ 478,037

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	Mar. 27, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION 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.”), Mexico and Puerto Rico. 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 United States and Puerto Rico and in the northern and central regions of Mexico. Additionally, the Company exports chicken products to approximately 90 countries. Pilgrim’s fresh chicken products consist of refrigerated (nonfrozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. The Company’s prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of which are either breaded or non-breaded and either marinated or non-marinated. As a vertically integrated company, we control every phase of the production of our products. We operate feed mills, hatcheries, processing plants and distribution centers in 12 U.S. states, Puerto Rico and Mexico. As of March 27, 2016, Pilgrim’s had approximately 37,900 employees and the capacity to process approximately 37 million birds per five-day work week for a total of approximately 11 billion pounds of live chicken annually. Approximately 4,035 contract growers supply poultry for the Company’s operations. As of March 27, 2016, JBS S.A., through its indirect wholly-owned subsidiaries (together, “JBS”), beneficially owned 76.7% of the Company’s outstanding common stock. Consolidated Financial Statements The accompanying unaudited 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 thirteen weeks ended March 27, 2016 are not necessarily indicative of the results that may be expected for the year ending December 25, 2016. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 27, 2015. Pilgrim’s operates on a 52/53-week fiscal year that ends on the Sunday falling on or before December 31. The reader should assume any reference we make to a particular year (for example, 2016) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. 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 Company measures the financial statements of its Mexico subsidiaries as if the U.S. dollar were the functional currency. Accordingly, we remeasure assets and liabilities, other than non-monetary assets, of the Mexico subsidiaries at current exchange rates. We remeasure non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. We remeasure income and expenses at average exchange rates in effect during the period. Currency exchange gains or losses are included in the line item Foreign currency transaction loss in the Condensed Consolidated Statements of Income. Reportable Segment We operate in one reportable business segment, as a producer and seller of chicken products we either produce or purchase for resale. Revenue Recognition We recognize revenue when all of the following circumstances are satisfied: (i) persuasive evidence of an arrangement exists, (ii) price is fixed or determinable, (iii) collectability is reasonably assured and (iv) delivery has occurred. Delivery occurs in the period in which the customer takes title and assumes the risks and rewards of ownership of the products specified in the customer’s purchase order or sales agreement. Revenue is recorded net of estimated incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged back to net sales in the period in which the facts that give rise to the revision become known. Book Overdraft The majority of the Company’s disbursement bank accounts are zero balance accounts where cash needs are funded as checks are presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are classified as accounts payable and the change in the related balance is reflected in operating activities on the Condensed Consolidated Statements of Cash Flows. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. In June 2015, the FASB agreed to defer by one year the mandatory effective date of this standard, but will also provide entities the option to adopt the new guidance as of the original effective date. The provisions of the new guidance will be effective as of the beginning of our 2018 fiscal year, but we have the option to adopt the guidance as early as the beginning of our 2017 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected either a transition approach to implement the standard or an adoption date. In July 2015, the FASB issued new accounting guidance on the subsequent measurement of inventory, which, in an effort to simplify unnecessarily complicated accounting guidance that can result in several potential outcomes, requires an entity to measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Current accounting guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The provisions of the new guidance will be effective as of the beginning of our 2017 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements. In February 2016, the FASB issued new accounting guidance on lease arrangements, which, in an effort to increase transparency and comparability among organizations utilizing leasing, requires an entity that is a lessee to recognize the assets and liabilities arising from leases on the balance sheet. This guidance also requires disclosures about the amount, timing and uncertainty of cash flows arising from leases. In transition, the entity is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The provisions of the new guidance will be effective as of the beginning of our 2019 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In March 2016, the FASB issued new accounting guidance on employee share-based payments, which, in an effort to simplify unnecessarily complicated aspects of accounting and reporting for share-based payment transactions, requires an entity to amend accounting and reporting methodology for areas such as the income tax consequences of share-based payments, classification of share-based awards as either equity or liabilities, and classification of share-based payment transactions in the statement of cash flows. The transition approach will vary depending on the area of accounting and reporting methodology to be amended. The provisions of the new guidance will be effective as of the beginning of our 2017 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date.

BUSINESS ACQUISITION

3 Months Ended

Mar. 27, 2016

Business Combinations [Abstract]

BUSINESS ACQUISITION

On June 29, 2015, the Company acquired, indirectly through certain of its Mexican subsidiaries, 100% of the equity of Provemex Holding LLC and its subsidiaries (together, “Tyson Mexico”) from Tyson Foods, Inc. and certain of its subsidiaries for cash. Tyson Mexico is a vertically integrated poultry business based in Gomez Palacio, Durango, Mexico. The acquired business has a production capacity of 2.5 million birds per five-day work week in its three plants and employs more than 4,500 people in its plants, offices and seven distribution centers. The acquisition further strengthens the Company's strategic position in the Mexico chicken market. The Company plans to keep all current labor contracts in place.

The following table summarizes the consideration paid for Tyson Mexico (in thousands):



Negotiated sales price	$	400,000
Working capital adjustment	(20,933		)
Final purchase price	$	379,067

Transaction costs incurred in conjunction with the purchase were approximately $2.2 million. These costs were expensed as incurred.

The results of operations of the acquired business since June 29, 2015 are included in the Company’s Condensed Consolidated Statements of Operations. Net sales generated by the acquired business during the thirteen weeks ended March 27, 2016 totaled $102.9 million. The acquired business incurred a net loss during the thirteen weeks ended March 27, 2016 totaling $0.2 million.

The assets acquired and liabilities assumed in the Tyson Mexico acquisition have been measured at their fair values at June 29, 2015 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the acquisition as well the assembled workforce. These benefits include complementary product offerings, an enhanced footprint in Mexico and attractive synergy opportunities and value creation. The Company does not have tax basis in the goodwill, and therefore, the goodwill is not deductible for tax purposes. The preliminary fair values recorded were determined based upon a preliminary valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to the preliminary valuation of property, plant and equipment and identifiable intangible assets, amounts for income taxes including deferred tax accounts, uncertain tax positions and net operating loss carryforwards inclusive of associated limitations and valuation allowances, certain legal matters and residual goodwill.

The preliminary fair values recorded for the assets acquired and liabilities assumed for Tyson Mexico are as follows (in thousands):



Cash and cash equivalents	$	5,535
Trade accounts and other receivables	24,173
Inventories	68,130
Prepaid expenses and other current assets	7,661
Property, plant and equipment	157,752
Identifiable intangible assets	26,411
Other long-lived assets	199
Total assets acquired	289,861
Accounts payable	21,550
Other current liabilities	8,707
Long-term deferred tax liabilities	36,960
Other long-term liabilities	5,155
Total liabilities assumed	72,372
Total identifiable net assets	217,489
Goodwill	161,578
Total net assets	$	379,067

The Company evaluated and continues to evaluate pre-acquisition contingencies relating to Tyson Mexico that existed as of the acquisition date. Based on the evaluation to date, the Company has preliminarily determined that certain pre-acquisition contingencies are probable in nature and estimable as of the acquisition date. Accordingly, the Company preliminarily recorded its best estimates for these contingencies as part of the preliminary valuation of the assets and liabilities acquired for Tyson Mexico. The Company continues to gather information relating to all pre-acquisition contingencies that it has assumed from Tyson Mexico. Any changes to the pre-acquisition contingency amounts recorded during the measurement period will be included in the final valuation and related amounts recognized. Subsequent to the end of the measurement period any adjustments to pre-acquisition contingency amounts will be reflected in the Company's results of operations.

The Company performed a preliminary valuation of the assets and liabilities of Tyson Mexico at June 29, 2015. Significant assumptions used in the preliminary valuation and the bases for their determination are summarized as follows:

•

Property, plant and equipment, net. Property, plant and equipment at fair value gave consideration to the highest and best use of the assets. The valuation of the Company's real property improvements and the majority of its personal property was based on the cost approach. The valuation of the Company's land, as if vacant, and certain personal property assets was based on the market or sales comparison approach.

•

Indefinite-lived trade names. The Company valued two indefinite-lived trade names using the income approach, specifically the relief from royalty method. Under this method, the asset value of each trade name was determined by estimating the hypothetical royalties that would have to be paid if it was not owned. Royalty rates were selected based on consideration of several factors, including (i) prior transactions involving Tyson Mexico trade names, (ii) incomes derived from license agreements on comparable trade names within the food and non-alcoholic beverages industry and (iii) the relative profitability and perceived contribution of each trade name. Royalty rates used in the determination of the fair values of the two trade names ranged from 4.0% to 5.0% of expected net sales related to the respective trade names and trade name maintenance costs were estimated as 1.4% of the royalty saved. The Company anticipates using both trade names for an indefinite period as demonstrated by the sustained use of each subject trade name. In estimating the fair value of the trade names, net sales related to the respective trade names were estimated to grow at a rate of 3.5% to 4.0% annually with a terminal year growth rate of 3.8%. Income taxes were estimated at 30.0% of pre-tax income, a tax amortization benefit was estimated considering a rate of 15.0% and the hypothetical savings generated by avoiding royalty costs were discounted using a rate of 12.0%. Trade names were valued at $9.7 million under this approach.

•

Customer relationships. The Company valued Tyson Mexico’s customer relationships using the income approach, specifically the multi-period excess earnings model. Under this model, the fair value of the customer relationships asset is determined by estimating the net cash inflows from the relationships discounted to present value. In estimating the fair value of the customer relationships, net sales related to our existing customers were estimated to grow at a rate of 4.0% annually, but we also anticipate losing existing customers at an attrition rate of 15.0%. Income taxes were estimated at 30.0% of pre-tax income, a tax amortization benefit was estimated considering a rate of 15.8% and net cash flows attributable to our existing customers were discounted using a rate of 13.1%. Customer relationships were valued at $16.7 million under this approach.

The Company recognized the following change in goodwill related to this acquisition during the thirteen weeks ended March 27, 2016 (in thousands):



Goodwill, beginning of period	$	156,565
Deferred tax impact related to customer relationship intangible assets	5,013
Goodwill, end of period	$	161,578

The following unaudited pro forma information presents the combined financial results for the Company and Tyson Mexico as if the acquisition had been completed at the beginning of the Company’s prior year, December 29, 2014.



	Thirteen Weeks Ended March 29, 2015
	(In thousands, except per share amount)
Net sales	$	2,208,219
Net income attributable to Pilgrim's Pride Corporation	211,510
Net income attributable to Pilgrim's Pride Corporation per common share - diluted	0.81

The above unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what the Company’s results of operations would have been had it completed the acquisition on the date assumed, nor is it necessarily indicative of the results that may be expected in future periods. Pro forma adjustments exclude cost savings from any synergies resulting from the acquisition.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 27, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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 in active markets for identical assets or liabilities;

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 March 27, 2016 and December 27, 2015, the Company held derivative assets and liabilities that were required to be measured at fair value on a recurring basis. Derivative assets and liabilities consist of long and short positions on exchange-traded commodity futures instruments.

The following items were measured at fair value on a recurring basis:



	March 27, 2016
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	1,956		$	—	$	—	$	1,956
Fair value liabilities:
Commodity futures instruments	(4,809		)	—		—		(4,809		)
Commodity options instruments	(57		)	—		—		(57		)



	December 27, 2015
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	59		$	—	$	—	$	59
Commodity options instruments	1,618			—		—		1,618
Fair value liabilities:
Commodity futures instruments	(5,436		)	—		—		(5,436		)

See “Note 7. Derivative Financial Instruments” for additional information.

Fair value and carrying value for our fixed-rate debt obligation is as follows:



	March 27, 2016				December 27, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
			(In thousands)
Fixed-rate senior notes payable at 5.75%, at Level 1 inputs	(500,000	)	(510,000	)	(500,000	)	(488,750	)

See “Note 10. Long-Term Debt and Other Borrowing Arrangements” for additional information.

The valuation of financial assets and liabilities classified in Level 1 is determined using a market approach, taking into account current interest rates, creditworthiness, and liquidity risks in relation to current market conditions, and is based upon unadjusted quoted prices for identical assets 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.

In addition to the fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require periodic 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.

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 fixed-rate debt obligation was based on the quoted market price at March 27, 2016 or December 27, 2015, 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

TRADE ACCOUNTS AND OTHER RECEIVABLES

3 Months Ended

Mar. 27, 2016

Accounts Receivable, Net [Abstract]

TRADE ACCOUNTS AND OTHER RECEIVABLES

Trade accounts and other receivables, less allowance for doubtful accounts, consisted of the following:



	March 27, 2016			December 27, 2015
	(In thousands)
Trade accounts receivable	$	333,925		$	342,466
Notes receivable - current	788			850
Other receivables	17,979			10,578
Receivables, gross	352,692			353,894
Allowance for doubtful accounts	(5,291		)	(4,900		)
Receivables, net	$	347,401		$	348,994

Account receivable from related parties^(a)	$	6,155		$	2,668

(a) Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.”

INVENTORIES

3 Months Ended

Mar. 27, 2016

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consisted of the following:



	March 27, 2016		December 27, 2015
	(In thousands)
Live chicken and hens	$	370,161	$	365,062
Feed, eggs and other	217,571		215,859
Finished chicken products	181,983		191,988
Total chicken inventories	769,715		772,909
Commercial feed and other	8,813		28,448
Total inventories	$	778,528	$	801,357

INVESTMENTS IN SECURITIES

3 Months Ended

Mar. 27, 2016

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN SECURITIES

We recognize investments in available-for-sale securities as cash equivalents, current investments or long-term investments depending upon each security's length to maturity. Additionally, those securities identified by management at the time of purchase for funding operations in less than one year are classified as current.

The following table summarizes our investments in available-for-sale securities:



	March 27, 2016				December 27, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Cash equivalents:
Fixed income securities	$	438,246	$	438,246	$	290,795	$	290,795
Other	58		58		54,831		54,831

All of the securities classified as cash and cash equivalents above mature within 90 days. The specific identification method is used to determine the cost of each security sold and each amount reclassified out of accumulated other comprehensive loss to earnings. Gross realized gains generated during the thirteen weeks ended March 27, 2016 and March 29, 2015 related to the Company’s available-for-sale securities totaled approximately $0.4 million and $0.1 million, respectively. Gross realized losses incurred during the thirteen weeks ended March 27, 2016 and March 29, 2015 related to the Company’s available-for-sale securities totaled approximately $16,700 and $8,300, respectively. Proceeds received from the sale or maturity of available-for-sale securities are historically disclosed in the Condensed Consolidated Statements of Cash Flows. No proceeds were received from the sale or maturity of available-for-sale securities during the thirteen weeks ended March 27, 2016 and March 29, 2015. Net unrealized holding gains and losses on the Company’s available-for-sale securities recognized during the thirteen weeks ended March 27, 2016 and March 29, 2015 that have been included in accumulated other comprehensive loss and the net amount of gains and losses reclassified out of accumulated other comprehensive loss to earnings during the thirteen weeks ended March 27, 2016 and March 29, 2015 are disclosed in “Note 13. Stockholders’ Equity.”

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 27, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

The Company utilizes various raw materials in its operations, including corn, soybean meal, soybean oil, sorghum and energy, such as 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 12 months. The Company may purchase longer-term derivative financial instruments on particular commodities if deemed appropriate.

The Company has operations in Mexico and, therefore, has exposure to translational foreign exchange risk when the financial results of those operations are translated to U.S. dollars.

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. Our counterparties require that we post cash collateral for changes in the net fair value of the derivative contracts.

We have not designated the derivative financial instruments that we have purchased to mitigate commodity purchase transaction exposures as cash flow hedges. Therefore, we recognized changes in the fair value of these derivative financial instruments immediately in earnings. Gains or losses related to these derivative financial instruments are included in the line item Cost of sales in the Condensed Consolidated Statements of Income. The Company recognized net gains of $4.1 million and net gains of $23.4 million related to changes in the fair value of its derivative financial instruments during the thirteen weeks ended March 27, 2016 and March 29, 2015, respectively. Information regarding the Company’s outstanding derivative instruments and cash collateral posted with (owed to) brokers is included in the following table:



	March 27, 2016			December 27, 2015
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	1,956		$	1,677
Commodity derivative liabilities	(4,866		)	(5,436		)
Cash collateral posted with brokers	7,631			9,381
Derivatives coverage^(a):
Corn	3.5		%	7.0		%
Soybean meal	(15.4		)%	4.1		%
Period through which stated percent of needs are covered:
Corn	March 2017			March 2017
Soybean meal	September 2016			July 2016


(a)	Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 27, 2016

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment (“PP&E”), net consisted of the following:



	March 27, 2016			December 27, 2015
	(In thousands)
Land	$	105,961		$	105,165
Buildings	1,155,520			1,131,379
Machinery and equipment	1,707,421			1,657,573
Autos and trucks	53,206			53,408
Construction-in-progress	111,236			152,619
PP&E, gross	3,133,344			3,100,144
Accumulated depreciation	(1,782,454		)	(1,747,615		)
PP&E, net	$	1,350,890		$	1,352,529

The Company recognized depreciation expense of $38.5 million and $34.0 million during the thirteen weeks ended March 27, 2016 and March 29, 2015, respectively.

During the thirteen weeks ended March 27, 2016, we spent $37.1 million on capital projects and transferred $77.3 million of completed projects from construction-in-progress to depreciable assets. During the thirteen weeks ended March 29, 2015, we spent $32.6 million on capital projects and transferred $45.2 million of completed projects from construction-in-progress to depreciable assets. Capital expenditures were primarily incurred during the thirteen weeks ended March 27, 2016 to improve efficiencies and reduce costs.

During the thirteen weeks ended March 27, 2016, the Company sold certain PP&E for cash of $0.6 million and recognized net gains on these sales of $0.1 million. PP&E sold in the period included an office building in Texas and miscellaneous equipment. During the thirteen weeks ended March 29, 2015, the Company sold miscellaneous equipment for cash of $0.9 million and recognized a net gain of $0.9 million.

Management has committed to the sale of certain properties and related assets, including, but not limited to, a processing complex in Texas, a processing plant in Louisiana and other miscellaneous assets, which no longer fit into the operating plans of the Company. The Company is actively marketing these properties and related assets for immediate sale and believes a sale of each property can be consummated within the next 12 months. At both March 27, 2016 and December 27, 2015, the Company reported properties and related assets totaling $6.6 million and $6.6 million, respectively, in the line item Assets held for sale on its Condensed Consolidated Balance Sheets. The Company tested the recoverability of its assets held for sale and determined that the aggregate carrying amounts of the Texas processing complex asset group and the Louisiana processing plant asset group were recoverable over the remaining life of the respective primary asset in each asset group.

The Company has closed or idled various processing complexes, processing plants, hatcheries, broiler farms, and feed mills throughout the U.S. Neither the Board of Directors nor JBS has 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. At March 27, 2016, the carrying amount of these idled assets was $68.2 million based on depreciable value of $198.0 million and accumulated depreciation of $129.8 million.

The Company last tested the recoverability of its long-lived assets held and used in December 2015. At that time, the Company determined that the carrying amount of its long-lived assets held and used was recoverable over the remaining life of the primary asset in the group and that long-lived assets held and used passed the Step 1 recoverability test under ASC 360-10-35, Impairment or Disposal of Long-Lived Assets. There were no indicators present during the thirteen weeks ended March 27, 2016 that required the Company to test its long-lived assets held and used for recoverability.

CURRENT LIABILITIES

3 Months Ended

Mar. 27, 2016

Payables and Accruals [Abstract]

CURRENT LIABILITIES

Current liabilities, other than current notes payable to banks, income taxes and current maturities of long-term debt, consisted of the following components:



	March 27, 2016		December 27, 2015
	(In thousands)
Accounts payable:
Trade accounts	$	409,550	$	436,188
Book overdrafts	58,644		44,145
Other payables	3,758		2,621
Total accounts payable	471,952		482,954
Accounts payable to related parties^(a)	1,654		7,000
Accrued expenses and other current liabilities:
Compensation and benefits	79,411		112,583
Interest and debt-related fees	1,741		8,928
Insurance and self-insured claims	100,072		93,336
Derivative liabilities:
Futures	4,809		5,436
Options	57		—
Other accrued expenses	93,159		94,683
Total accrued expenses and other current liabilities	279,249		314,966
	$	752,855	$	804,920

(a) Additional information regarding accounts payable from related parties is included in “Note 15. Related Party Transactions.”

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS

3 Months Ended

Mar. 27, 2016

Debt Disclosure [Abstract]

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS

Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components:



	Maturity	March 27, 2016			December 27, 2015
		(In thousands)
Long-term debt and other long-term borrowing arrangements:
Senior notes payable at 5.75%	2025	$	500,000		$	500,000
U.S. Credit Facility (defined below):
Term note payable at 1.69%	2020	500,000			500,000
Revolving note payable	2020	—			—
Capital lease obligations	Various	441			462
Long-term debt		1,000,441			1,000,462
Less: Current maturities of long-term debt		(88		)	(86		)
Long-term debt, less current maturities		1,000,353			1,000,376
Less: Capitalized financing costs		(13,953		)	(14,867		)
Long-term debt, less current maturities, net of capitalized financing costs:		$	986,400		$	985,509

Current notes payable to banks
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.90%	2016	$	21,577		$	28,726

Senior Notes

On March 11, 2015, the Company completed a sale of $500.0 million aggregate principal amount of its 5.75% senior notes due 2025 (the “Senior Notes”). The Company used the net proceeds from the sale of the Senior Notes to repay $350.0 million and $150.0 million of the term loan indebtedness under the U.S. Credit Facility (defined below) on March 12, 2015 and April 22, 2015, respectively. The Notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.

The Senior Notes are governed by, and were issued pursuant to, an indenture dated as of March 11, 2015 by and among the Company, its guarantor subsidiary and Wells Fargo Bank, National Association, as trustee (the “Indenture”). The Indenture provides, among other things, that the Senior Notes bear interest at a rate of 5.75% per annum from the date of issuance until maturity, payable semi-annually in cash in arrears, beginning on September 15, 2015. The Senior Notes are guaranteed on a senior unsecured basis by the Company’s guarantor subsidiary. In addition, any of the Company’s other existing or future domestic restricted subsidiaries that incur or guarantee any other indebtedness (with limited exceptions) must also guarantee the Senior Notes. The Senior Notes and related guarantees are unsecured senior obligations of the Company and its guarantor subsidiary and rank equally with all of the Company’s and its guarantor subsidiary’s other unsubordinated indebtedness. The Senior Notes and the Indenture also contain customary covenants and events of default, including failure to pay principal or interest on the Senior Notes when due, among others.

U.S. Credit Facility

On February 11, 2015, the Company and its subsidiaries, To-Ricos, Ltd. and To-Ricos Distribution, Ltd., entered into a Second Amended and Restated Credit Agreement (the “U.S. Credit Facility”) with Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., Rabobank Nederland, New York Branch (“Rabobank”), as administrative agent, and the other lenders party thereto. The U.S. Credit Facility provides for a revolving loan commitment of up to $700.0 million and a term loan commitment of up to $1.0 billion (the “Term Loans”). The U.S. Credit Facility also includes an accordion feature that allows the Company, at any time, to increase the aggregate revolving loan and term loan commitments by up to an additional $1.0 billion, subject to the satisfaction of certain conditions, including obtaining the lenders’ agreement to participate in the increase.

The revolving loan commitment under the U.S. Credit Facility matures on February 10, 2020. All principal on the Term Loans is due at maturity on February 10, 2020. No installments of principal are required to be made prior to the maturity date of the Term Loans. Covenants in the U.S. Credit Facility also require the Company to use the proceeds it receives from certain asset sales and specified debt or equity issuances and upon the occurrence of other events to repay outstanding borrowings under the U.S. Credit Facility. The Company had Term Loans outstanding totaling $500.0 million as of March 27, 2016.

The U.S. Credit Facility includes a $75.0 million sub-limit for swingline loans and a $125.0 million sub-limit for letters of credit. Outstanding borrowings under the revolving loan commitment and the Term Loans bear interest at a per annum rate equal to (i) in the case of LIBOR loans, LIBOR plus 1.50% through March 27, 2016 and, based on the Company’s net senior secured leverage ratio, between LIBOR plus 1.25% and LIBOR plus 2.75% and (ii) in the case of alternate base rate loans, the base rate plus 0.50% through March 27, 2016 and, based on the Company’s net senior secured leverage ratio, between the base rate plus 0.25% and base rate plus 1.75% thereafter.

Actual borrowings by the Company under the revolving loan commitment of the U.S. Credit Facility are subject to a borrowing base, which is a formula based on certain eligible inventory, eligible receivables and restricted cash under the control of Rabobank, in its capacity as administrative agent. The borrowing base formula will be reduced by the sum of (i) inventory reserves, (ii) rent and collateral access reserves, and (iii) any amount more than 15 days past due that is owed by the Company or its subsidiaries to any person on account of the purchase price of agricultural products or services (including poultry and livestock) if that person is entitled to any grower’s or producer’s lien or other security arrangement. As of March 27, 2016, the applicable borrowing base was $693.7 million and the amount available for borrowing under the revolving loan commitment was $676.0 million. The Company had letters of credit of $17.7 million and no outstanding borrowings under the revolving loan commitment as of March 27, 2016.

The U.S. Credit Facility contains financial covenants and various other covenants that may adversely affect the Company’s ability to, among other things, incur additional indebtedness, incur liens, pay dividends or make certain restricted payments, consummate certain assets sales, enter into certain transactions with JBS and the Company’s other affiliates, merge, consolidate and/or sell or dispose of all or substantially all of our assets. The U.S. Credit Facility requires the Company to comply with a minimum level of tangible net worth covenant. The U.S. Credit Facility also provides that we may not incur capital expenditures in excess of $500.0 million in any fiscal year. The Company is currently in compliance with the covenants under the U.S. Credit Facility.

All obligations under the U.S. Credit Facility will continue to be unconditionally guaranteed by certain of the Company’s subsidiaries and will continue to be secured by a first priority lien on (i) the accounts receivable and inventory of our company and its non-Mexico subsidiaries, (ii) 100% of the equity interests in our domestic subsidiaries, To-Ricos, Ltd. and To-Ricos Distribution, Ltd., and 65% of the equity interests in our direct foreign subsidiaries and (iii) substantially all of the assets of the Company and the guarantors under the U.S. Credit Facility.

Mexico Credit Facility

On July 23, 2014, certain of our Mexican subsidiaries entered into an unsecured credit agreement (the “Mexico Credit Facility”) with BBVA Bancomer, S.A. Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, as lender. The loan commitment under the Mexico Credit Facility is $1.5 billion Mexican pesos. Outstanding borrowings under the Mexico Credit Facility will accrue interest at a rate equal to the Interbank Equilibrium Interest Rate plus 0.90%. The Mexico Credit Facility will mature on July 23, 2017. As of March 27, 2016, the U.S. dollar-equivalent loan commitment under the Mexico Credit Facility was $85.5 million, and there were $21.6 million outstanding borrowings under the Mexico Credit Facility that bear interest at a per annum rate of 4.99%. As of March 27, 2016, the U.S. dollar-equivalent borrowing availability was $63.9 million.

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 27, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $62.6 million, a 34.7% effective tax rate, for the thirteen weeks ended March 27, 2016 compared to income tax expense of $111.5 million, a 35.3% effective tax rate, for the thirteen weeks ended March 29, 2015. The decrease in income tax expense in 2016 resulted primarily from a decrease in pre-tax income. 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 March 27, 2016, the Company did not believe it had sufficient positive evidence to conclude that realization of its federal capital loss carry forwards and a portion of its foreign net deferred tax assets are more likely than not to be realized. For the thirteen weeks ended March 27, 2016 and March 29, 2015, there is tax effect of $4.2 million and $1.3 million, respectively, reflected in other comprehensive income. For the thirteen weeks ended March 27, 2016, there is no tax effect reflected in additional paid-in-capital due to excess tax benefits related to compensation. For the thirteen weeks ended March 29, 2015, there is a tax effect of $7.8 million reflected in additional paid-in-capital due to excess tax benefits related to compensation on dividend equivalent rights and vested stock awards. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by taxing authorities for years prior to 2010 and is no longer subject to Mexico income tax examinations by taxing authorities for years prior to 2009. The United States Fifth Circuit Court of Appeals (the “Fifth Circuit”) rendered judgment in favor of the Company regarding the IRS’ amended proof of claim relating to the tax year ended June 26, 2004 for Gold Kist Inc. (“Gold Kist”). See “Note 16. Commitments and Contingencies” for additional information.

PENSION AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Mar. 27, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

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, nonqualified defined benefit retirement plans, a defined benefit postretirement life insurance plan and defined contribution retirement savings plans. Expenses recognized under all of these retirement plans totaled $1.6 million and $4.5 million in the thirteen weeks ended March 27, 2016 and March 29, 2015, 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 these defined benefit plans were as follows:



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Change in projected benefit obligation:	(In thousands)
Projected benefit obligation, beginning of period	$	165,952		$	1,672		$	190,401		$	1,657
Interest cost	1,396			12			1,938			17
Actuarial losses	4,417			51			6,915			38
Benefits paid	(2,365		)	(35		)	(1,479		)	(32		)
Curtailments and settlements	—			—			(11,945		)	—
Projected benefit obligation, end of period	$	169,400		$	1,700		$	185,830		$	1,680



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Change in plan assets:	(In thousands)
Fair value of plan assets, beginning of period	$	96,947		$	—		$	113,552		$	—
Actual return on plan assets	(5,446		)	—			2,061			—
Contributions by employer	2,541			35			1,881			32
Benefits paid	(2,365		)	(35		)	(1,479		)	(32		)
Curtailments and settlements	—			—			(11,945		)	—
Fair value of plan assets, end of period	$	91,677		$	—		$	104,070		$	—



	March 27, 2016						December 27, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Funded status:	(In thousands)
Unfunded benefit obligation, end of period	$	(77,723	)	$	(1,700	)	$	(69,005	)	$	(1,672	)



	March 27, 2016						December 27, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:	(In thousands)
Current liability	$	(10,774	)	$	(139	)	$	(10,779	)	$	(138	)
Long-term liability	(66,949		)	(1,561		)	(58,226		)	(1,534		)
Recognized liability	$	(77,723	)	$	(1,700	)	$	(69,005	)	$	(1,672	)



	March 27, 2016					December 27, 2015
	Pension Benefits		Other Benefits			Pension Benefits		Other Benefits
Amounts recognized in accumulated other comprehensive loss at end of period:	(In thousands)
Net actuarial loss (gain)	$	49,126	$	(28	)	$	38,115	$	(79	)

The accumulated benefit obligation for our defined benefit pension plans was $169.4 million and $166.0 million at March 27, 2016 and December 27, 2015, respectively. Each of our defined benefit pension plans had accumulated benefit obligations that exceeded the fair value of plan assets at March 27, 2016 and December 27, 2015, respectively.

Net Periodic Benefit Costs

Net defined benefit pension and other postretirement costs included the following components:



	Thirteen Weeks Ended March 27, 2016					Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits		Pension Benefits			Other Benefits
	(In thousands)
Interest cost	$	1,396		$	12	$	1,938		$	17
Estimated return on plan assets	(1,314		)	—		(1,671		)	—
Settlement loss	—			—		3,062			—
Amortization of net loss	165			—		179			—
Net costs	$	247		$	12	$	3,508		$	17

Economic Assumptions

The weighted average assumptions used in determining pension and other postretirement plan information were as follows:



	March 27, 2016				December 27, 2015
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
Assumptions used to measure benefit obligation at end of period:
Discount rate	4.18	%	3.55	%	4.47	%	4.47	%



	Thirteen Weeks Ended March 27, 2016				Thirteen Weeks Ended March 29, 2015
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
Assumptions used to measure net pension and other postretirement cost:
Discount rate	4.47	%	4.47	%	4.22	%	4.22	%
Expected return on plan assets	5.50	%	NA		6.00	%	NA

Discount rates were determined based on current investment yields on high-quality corporate long-term bonds. The expected rate of return on plan assets was determined based on the current interest rate environment and historical market premiums relative to the fixed income rates of equities and other asset classes. We also take into consideration anticipated asset allocations, investment strategies and the views of various investment professionals when developing this rate.

Plan Assets

The following table reflects the pension plans’ actual asset allocations:



	March 27, 2016		December 27, 2015
Cash and cash equivalents	—	%	—	%
Pooled separate accounts^(a):
Equity securities	7	%	7	%
Fixed income securities	7	%	7	%
Common collective trust funds^(a):
Equity securities	57	%	57	%
Fixed income securities	29	%	29	%
Total assets	100	%	100	%

(a)

Pooled separate accounts (“PSAs”) and common collective trust funds (“CCTs”) are two of the most common types of alternative vehicles in which benefit plans invest. These investments are pooled funds that look like mutual funds, but they are not registered with the SEC. Often times, they will be invested in mutual funds or other marketable securities, but the unit price generally will be different from the value of the underlying securities because the fund may also hold cash for liquidity purposes, and the fees imposed by the fund are deducted from the fund value rather than charged separately to investors. Some PSAs and CCTs have no restrictions as to their investment strategy and can invest in riskier investments, such as derivatives, hedge funds, private equity funds, or similar investments.

Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the pooled separate accounts is 50% in each of fixed income securities and equity securities and the target asset allocation for the investment of pension assets in the common collective trust funds is 30% in fixed income securities and 70% in equity securities. The plans only invest in fixed income and equity instruments for which there is a readily available public market. We develop our expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which our plans invest.

The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of March 27, 2016 and December 27, 2015:



	March 27, 2016								December 27, 2015
	Level 1^(a)		Level 2^(b)		Level 3^(c)		Total		Level 1^(a)		Level 2^(b)		Level 3^(c)		Total
	(In thousands)
Cash and cash equivalents	$	126	$	—	$	—	$	126	$	147	$	—	$	—	$	147
Pooled separate accounts:
Large U.S. equity funds^(d)	—		3,692		—		3,692		—		3,816		—		3,816
Small/Mid U.S. equity funds^(e)	—		937		—		937		—		969		—		969
International equity funds^(f)	—		1,498		—		1,498		—		1,606		—		1,606
Fixed income funds^(g)	—		6,149		—		6,149		—		6,337		—		6,337
Common collective trusts funds:
Large U.S. equity funds^(d)	—		21,657		—		21,657		—		22,069		—		22,069
Small U.S. equity funds^(e)	—		15,392		—		15,392		—		16,843		—		16,843
International equity funds^(f)	—		15,415		—		15,415		—		16,629		—		16,629
Fixed income funds^(g)	—		26,811		—		26,811		—		28,531		—		28,531
Total assets	$	126	$	91,551	$	—	$	91,677	$	147	$	96,800	$	—	$	96,947


(a)	Unadjusted quoted prices in active markets for identical assets are used to determine fair value.


(b)	Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value.


(c)	Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value.


(d)	This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods.


(e)	This category is generally comprised of investment options that invest in stocks, or shares of ownership, in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns.


(f)	This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S.

(g)

This category is comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and non-U.S. entities). It may also include real estate investment options that directly own property. These investment options typically carry more risk than short-term fixed income investment options (including, for real estate investment options, liquidity risk), but less overall risk than equities.

The valuation of plan assets 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. Level 2 securities primarily include equity and fixed income securities funds.

Benefit Payments

The following table reflects the benefits as of March 27, 2016 expected to be paid through 2025 from our pension and other postretirement plans. Because our pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. Because our other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from our own assets.



	Pension Benefits		Other Benefits
	(In thousands)
2016 (remaining)	$	10,653	$	104
2017	11,660		139
2018	11,406		140
2019	11,063		139
2020	11,075		138
2021-2025	49,795		643
Total	$	105,652	$	1,303

We anticipate contributing $9.4 million and $0.1 million, as required by funding regulations or laws, to our pension plans and other postretirement plans, respectively, during the remainder of 2016.

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:



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
	(In thousands)
Net actuarial loss (gain), beginning of period	$	38,115		$	(79	)	$	43,907		$	(127	)
Amortization	(165		)	—			(179		)	—
Curtailment and settlement adjustments	—			—			(3,062		)	—
Actuarial loss	4,417			51			6,914			39
Asset loss (gain)	6,759			—			(389		)	—
Net actuarial loss (gain), end of period	$	49,126		$	(28	)	$	47,191		$	(88	)

The Company expects to recognize in net pension cost throughout the remainder of 2016 an actuarial loss of $0.5 million that was recorded in accumulated other comprehensive loss at March 27, 2016.

Remeasurement

The Company remeasures both plan assets and obligations on a quarterly basis.

STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 27, 2016

Equity [Abstract]

STOCKHOLDERS' EQUITY

Accumulated Other Comprehensive Loss

The following tables provide information regarding the changes in accumulated other comprehensive loss:



	Thirteen Weeks Ended March 27, 2016^(a)									Thirteen Weeks Ended March 29, 2015^(a)
	Losses Related to Pension and Other Postretirement Benefits			Unrealized Holding Gains on Available-for-Sale Securities			Total			Losses Related to Pension and Other Postretirement Benefits			Unrealized Holding Gains on Available-for-Sale Securities			Total
	(In thousands)
Balance, beginning of period	$	(58,997	)	$	67		$	(58,930	)	$	(62,572	)	$	31		$	(62,541	)
Other comprehensive income (loss) before reclassifications	(6,988		)	171			(6,817		)	(2,180		)	32			(2,148		)
Amounts reclassified from accumulated other comprehensive loss to net income	103			(141		)	(38		)	111			(51		)	60
Net current period other comprehensive income (loss)	(6,885		)	30			(6,855		)	(2,069		)	(19		)	(2,088		)
Balance, end of period	$	(65,882	)	$	97		$	(65,785	)	$	(64,641	)	$	12		$	(64,629	)


(a)	All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss.



	Amount Reclassified from Accumulated Other Comprehensive Loss^(a)
Details about Accumulated Other Comprehensive Loss Components	Thirteen Weeks Ended March 27, 2016			Thirteen Weeks Ended March 29, 2015			Affected Line Item in the Condensed Consolidated Statements of Operations
	(In thousands)
Realized gain on sale of securities	$	226		$	82		Interest income
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Union employees pension plan^(b)(d)	(5		)	(6		)	Cost of sales
Legacy Gold Kist plans^(c)(d)	(50		)	—			Cost of sales
Legacy Gold Kist plans^(c)(d)	(110		)	(173		)	Selling, general and administrative expense
Total before tax	61			(97		)
Tax benefit (expense)	(23		)	37
Total reclassification for the period	$	38		$	(60	)


(a)	Amounts in parentheses represent debits to results of operations.


(b)	The Company sponsors the Pilgrim’s Pride Retirement Plan for Union Employees, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements.

(c)

The Company sponsors the Pilgrim’s Pride Plan for Legacy Gold Kist Employees, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the Former Gold Kist Inc. Supplemental Executive Retirement Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Former Gold Kist Inc. Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors, and the Gold Kist Inc. Retiree Life Insurance Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees.


(d)	These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See “Note 12. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements.

Share Repurchase Program and Treasury Stock

On July 28, 2015, the Company’s Board of Directors approved a $150.0 million share repurchase authorization. The Company plans to repurchase shares through various means, which may include but are not limited to open market purchases, privately negotiated transactions, the use of derivative instruments and/or accelerated share repurchase programs. The share repurchase program was originally scheduled to expire on July 27, 2016. On February 10, 2016, the Company’s Board of Directors approved an increase of the share repurchase authorization to $300.0 million and an extension of the expiration to February 9, 2017. The extent to which the Company repurchases its shares and the timing of such repurchases will vary and depend upon market conditions and other corporate considerations, as determined by the Company’s management team. The Company reserves the right to limit or terminate the repurchase program at any time without notice. As of March 27, 2016, the Company had repurchased approximately 5.0 million shares under this program with a market value of approximately $101.9 million. The Company accounted for the shares repurchased using the cost method.

Special Cash Dividends

On April 27, 2016, the Company announced that its Board of Directors had approved the declaration of a special cash dividend of $2.75 per share. The total amount of the special cash dividend payment will be approximately $700.0 million based on the current number of shares outstanding. The special cash dividend is payable on May 18, 2016, to stockholders of record on May 10, 2016. The Company intends to use proceeds from the U.S. Credit Facility, along with cash on hand, to fund the special cash dividend.

The following unaudited pro forma information presents the Company’s financial position giving effect to the special cash dividend and the borrowing necessary to fund the special cash dividend as if they occurred on March 27, 2016.



	March 27, 2016		Special Cash Dividend				March 27, 2016
			(In thousands)
Cash and cash equivalents	$	574,888	$	145,112		(a)	$	20,000
			(700,000		)	(b)
Other current assets	1,238,954		—				1,238,954
Total current assets	1,813,842		(554,888		)		1,258,954
Other assets	1,572,908		—				1,572,908
Total assets	$	3,386,750	$	(554,888	)		$	2,831,862

Long-term debt, less current maturities	$	986,400	$	145,112			$	1,131,512
Other liabilities	1,029,161		—				1,029,161
Total stockholders' equity	1,371,189		(700,000		)		671,189
Total liabilities and stockholders' equity	$	3,386,750	$	(554,888	)		$	2,831,862

(a) To reflect cash from borrowing of long-term debt used to pay the special cash dividend to stockholders.

(b) To reflect the payment of the special cash divided to stockholders.

The above unaudited pro forma information is based on available information and various estimates and assumptions. Management of the Company believes that these estimates and assumptions provide a reasonable basis for presenting the unaudited pro forma information. The unaudited pro forma information is presented for informational purposes only and does not purport to be indicative of the financial position that would actually have resulted if the special cash dividend had been completed as of such date or that may result in the future.

On February 17, 2015, the Company paid a special cash dividend from retained earnings of approximately $1.5 billion, or $5.77 per share, to stockholders of record as of January 30, 2015. The Company used proceeds from the U.S. Credit Facility, along with cash on hand, to fund the special cash dividend.

Restrictions on Dividends

Both the U.S. Credit Facility and the Indenture governing the Senior Notes restrict, but do not prohibit, the Company from declaring dividends.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

INCENTIVE COMPENSATION

3 Months Ended

Mar. 27, 2016

INCENTIVE COMPENSATION [Abstract]

INCENTIVE COMPENSATION

The Company sponsors a short-term incentive plan that provides the grant of either cash or share-based bonus awards payable upon achievement of specified performance goals (the “STIP”). Full-time, salaried exempt employees of the Company and its affiliates who are selected by the administering committee are eligible to participate in the STIP. The Company has accrued $2.8 million in costs related to the STIP at March 27, 2016 related to cash bonus awards that could potentially be awarded during the remainder of 2016 and 2017.

The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and cash-based awards to the Company’s officers and other employees, members of the Board of Directors and any consultants (the “LTIP”). The equity-based awards that may be granted under the LTIP include “incentive stock options,” within the meaning of the Internal Revenue Code, nonqualified stock options, stock appreciation rights, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”). At March 27, 2016, we have reserved approximately 5.3 million shares of common stock for future issuance under the LTIP.

The following awards were outstanding during the thirteen weeks ended March 27, 2016:

Award Type

Benefit

Plan

Awards Granted

Grant

Date

Grant Date Fair Value per Award^(a)

Vesting Condition

Vesting Date

Estimated Forfeiture Rate

Awards Forfeited to Date

Settlement Method

RSU

LTIP

462,518

02/19/2014

16.70

Service

12/31/2016

13.49

73,761

Stock

RSU

LTIP

269,662

03/03/2014

17.18

Performance / Service

12/31/2017

12.34

32,898

Stock

RSU

LTIP

158,226

02/26/2015

27.51

Performance / Service

12/31/2018

(b)

158,226

Stock


(a)	The fair value of each RSA and RSU granted or vested represents the closing price of the Company's common stock on the respective grant date or vesting date.


(b)	Performance conditions associated with these awards were not satisfied. Therefore, 100% of the awards were forfeited.

Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below:



	Thirteen Weeks Ended
	March 27, 2016		March 29, 2015
	(In thousands)
Share-based compensation cost:
Cost of sales	$	99	$	113
Selling, general and administrative expense	781		684
Total	$	880	$	797

Income tax benefit	$	257	$	243

The Company’s RSA and RSU activity is included below:



	Thirteen Weeks Ended March 27, 2016				Thirteen Weeks Ended March 29, 2015
	Number		Weighted Average Grant Date Fair Value		Number		Weighted Average Grant Date Fair Value
	(In thousands, except weighted average fair values)
RSAs:
Outstanding at beginning of period	—		$	—	30		$	8.72
Vested	—		—		(15	)	8.72
Forfeited	—		—		—		—
Outstanding at end of period	—		$	—	15		$	8.72

RSUs:
Outstanding at beginning of period	774		$	18.78	1,120		$	11.97
Granted	—		—		428		21.00
Vested	—		—		(671	)	8.81
Forfeited	(148	)	26.82		—		—
Outstanding at end of period	626		$	16.88	877		$	18.80

The total fair value of awards vested during the thirteen weeks ended March 29, 2015 was $22.4 million. No awards vested during the thirteen weeks ended March 27, 2016.

At March 27, 2016, the total unrecognized compensation cost related to all nonvested awards was $5.0 million. That cost is expected to be recognized over a weighted average period of 1.32 years.

Historically, we have issued new shares to satisfy award conversions.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 27, 2016

RELATED PARTY TRANSACTIONS

Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies.



	Thirteen Weeks Ended
	March 27, 2016		March 29, 2015
	(In thousands)
JBS USA Food Company Holdings:
Letter of credit fees^(a)	$	202	$	317
JBS USA Food Company:
Purchases from JBS USA Food Company^(b)	20,511		27,580
Expenditures paid by JBS USA Food Company on behalf of Pilgrim’s Pride Corporation^(c)	7,604		8,580
Sales to JBS USA Food Company^(b)	3,302		6,868
Expenditures paid by Pilgrim’s Pride Corporation on behalf of JBS USA Food Company^(c)	6,963		1,715
JBS Chile Ltda.:
Sales to JBS Chile Ltda.	205		165
JBS Global (UK) Ltd.:
Sales to JBS Global (UK) Ltd.	122		—

(a)

JBS USA Food Company Holdings (“JBS USA Holdings”) arranged for letters of credit to be issued on its account in the aggregate amount of $56.5 million to an insurance company on behalf of the Company in order to allow that insurance company to return cash it held as collateral against potential workers’ compensation, auto liability and general liability claims. In return for providing this letter of credit, the Company has agreed to reimburse JBS USA Holdings for the letter of credit fees the Company would otherwise incur under its U.S Credit Facility. The letter of credit arrangements for $40.0 million and $16.5 million were terminated on March 7, 2016 and April 1, 2016, respectively. For the thirteen weeks ended March 27, 2016, the Company reimbursed JBS USA Holdings $0.1 million for letter of credit fees.

(b)

We routinely execute transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of March 27, 2016 and December 27, 2015, the outstanding payable to JBS USA was $1.7 million and $7.0 million, respectively. As of March 27, 2016 and December 27, 2015, the outstanding receivable from JBS USA was $5.9 million and $2.6 million, respectively. As of March 27, 2016, approximately $1.6 million of goods from JBS USA were in transit and not reflected on our Condensed Consolidated Balance Sheet.

(c)

The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for its combined 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, 2016.

The Company entered into a tax sharing agreement during 2014 with JBS USA Holdings effective for tax years starting in 2010. The net tax receivable of $3.7 million for tax year 2015 was accrued in 2015 and paid in January 2016. The net tax receivable of $3.8 million for tax years 2010 through 2014 was accrued in 2014 and paid in January 2015.

On June 25, 2015, the Company signed an intercompany revolving note to its indirect wholly-owned subsidiary, Pilgrim’s Pride S. de R.L. de C.V., in a principal amount of $100.0 million. The note bears interest based on three-month LIBOR plus a margin of 2.5% and has a maturity date of June 24, 2020. The proceeds of the note were used to fund a portion of the purchase price of the acquisition of Tyson Mexico (as defined in “Note 2. Business Acquisition”). Interest is payable quarterly and principal is due upon maturity. The outstanding note balance eliminates upon consolidation. As of March 27, 2016, outstanding borrowings totaled $64.5 million.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 27, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are a party to many routine contracts in which we provide general indemnities in the normal course of business to third parties for various risks. Among other considerations, we have not recorded a liability for any of these indemnities as based upon the likelihood of payment, the fair value of such indemnities would not have a material impact on our financial condition, results of operations and cash flows. 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. For a discussion of the material legal proceedings and claims, see Part II, Item 1. “Legal Proceedings.” Below is a summary of some of these material proceedings and claims. The Company believes it has substantial defenses to the claims made and intends to vigorously defend these cases. Tax Claims and Proceedings In 2009, the IRS asserted claims against the Company totaling $74.7 million. We entered into two Stipulations of Settled Issues agreements with the IRS on December 12, 2012 that accounted for approximately $29.3 million of the claims and should result in no additional tax due. In connection with the remaining $45.4 million claimed by the IRS, we filed a petition in the U.S. Tax Court (“Tax Court”) on May 26, 2010 in response to a Notice of Deficiency that was issued to the Company as the successor in interest to Gold Kist. The Notice of Deficiency and the Tax Court proceeding related to an ordinary loss that Gold Kist claimed for its tax year ended June 26, 2004. On December 11, 2013, the Tax Court issued its opinion in the Tax Court case holding the loss that Gold Kist claimed for its tax year ended June 26, 2004 was capital in nature. On April 14, 2014, the Company appealed the Tax Court’s findings of fact and conclusions of law to the Fifth Circuit. On February 25, 2015, the Fifth Circuit issued its opinion, which reversed the Tax Court’s judgment and rendered judgment in favor of the Company. The IRS did not appeal the Fifth Circuit’s decision, which has become final, and no additional tax should be due in connection with this matter. ERISA Claims and Proceedings Claims have been brought against certain current and former directors, executive officers and employees of the Company, the Pilgrim’s Pride Administrative Committee and the Pilgrim’s Pride Pension Committee seeking unspecified damages under section 502 of the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §1132. These claims were brought by individual participants in the Pilgrim’s Pride Retirement Savings Plan, individually and on behalf of a putative class, alleging that the defendants breached fiduciary duties to plan participants and beneficiaries or otherwise violated ERISA. Although the Company is not a named defendant in these claims, our bylaws require us to indemnify our current and former directors and officers from any liabilities and expenses incurred by them in connection with actions they took in good faith while serving as an officer or director. In these actions, the plaintiffs assert claims in excess of $35.0 million. The likelihood of an unfavorable outcome or the amount or range of any possible loss to the Company cannot be determined at this time.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 27, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Financial Statements	Consolidated Financial Statements The accompanying unaudited 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 thirteen weeks ended March 27, 2016 are not necessarily indicative of the results that may be expected for the year ending December 25, 2016. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 27, 2015. Pilgrim’s operates on a 52/53-week fiscal year that ends on the Sunday falling on or before December 31. The reader should assume any reference we make to a particular year (for example, 2016) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. 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.
Foreign Currency Transactions and Translations	The Company measures the financial statements of its Mexico subsidiaries as if the U.S. dollar were the functional currency. Accordingly, we remeasure assets and liabilities, other than non-monetary assets, of the Mexico subsidiaries at current exchange rates. We remeasure non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. We remeasure income and expenses at average exchange rates in effect during the period. Currency exchange gains or losses are included in the line item Foreign currency transaction loss in the Condensed Consolidated Statements of Income.
Reportable Segment	Reportable Segment We operate in one reportable business segment, as a producer and seller of chicken products we either produce or purchase for resale.
Revenue Recognition	Revenue Recognition We recognize revenue when all of the following circumstances are satisfied: (i) persuasive evidence of an arrangement exists, (ii) price is fixed or determinable, (iii) collectability is reasonably assured and (iv) delivery has occurred. Delivery occurs in the period in which the customer takes title and assumes the risks and rewards of ownership of the products specified in the customer’s purchase order or sales agreement. Revenue is recorded net of estimated incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged back to net sales in the period in which the facts that give rise to the revision become known.
Book Overdraft	Book Overdraft The majority of the Company’s disbursement bank accounts are zero balance accounts where cash needs are funded as checks are presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are classified as accounts payable and the change in the related balance is reflected in operating activities on the Condensed Consolidated Statements of Cash Flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. In June 2015, the FASB agreed to defer by one year the mandatory effective date of this standard, but will also provide entities the option to adopt the new guidance as of the original effective date. The provisions of the new guidance will be effective as of the beginning of our 2018 fiscal year, but we have the option to adopt the guidance as early as the beginning of our 2017 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected either a transition approach to implement the standard or an adoption date. In July 2015, the FASB issued new accounting guidance on the subsequent measurement of inventory, which, in an effort to simplify unnecessarily complicated accounting guidance that can result in several potential outcomes, requires an entity to measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Current accounting guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The provisions of the new guidance will be effective as of the beginning of our 2017 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements. In February 2016, the FASB issued new accounting guidance on lease arrangements, which, in an effort to increase transparency and comparability among organizations utilizing leasing, requires an entity that is a lessee to recognize the assets and liabilities arising from leases on the balance sheet. This guidance also requires disclosures about the amount, timing and uncertainty of cash flows arising from leases. In transition, the entity is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The provisions of the new guidance will be effective as of the beginning of our 2019 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In March 2016, the FASB issued new accounting guidance on employee share-based payments, which, in an effort to simplify unnecessarily complicated aspects of accounting and reporting for share-based payment transactions, requires an entity to amend accounting and reporting methodology for areas such as the income tax consequences of share-based payments, classification of share-based awards as either equity or liabilities, and classification of share-based payment transactions in the statement of cash flows. The transition approach will vary depending on the area of accounting and reporting methodology to be amended. The provisions of the new guidance will be effective as of the beginning of our 2017 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date.

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

+ References + Details

BUSINESS ACQUISITION (Tables)

3 Months Ended

Mar. 27, 2016

Business Combinations [Abstract]

Schedule of Business Acquisitions, Consideration Paid

The following table summarizes the consideration paid for Tyson Mexico (in thousands):



Negotiated sales price	$	400,000
Working capital adjustment	(20,933		)
Final purchase price	$	379,067

Schedule of Business Acquisitions, Fair Values of Assets Acquired and Liabilities Assumed

The preliminary fair values recorded for the assets acquired and liabilities assumed for Tyson Mexico are as follows (in thousands):



Cash and cash equivalents	$	5,535
Trade accounts and other receivables	24,173
Inventories	68,130
Prepaid expenses and other current assets	7,661
Property, plant and equipment	157,752
Identifiable intangible assets	26,411
Other long-lived assets	199
Total assets acquired	289,861
Accounts payable	21,550
Other current liabilities	8,707
Long-term deferred tax liabilities	36,960
Other long-term liabilities	5,155
Total liabilities assumed	72,372
Total identifiable net assets	217,489
Goodwill	161,578
Total net assets	$	379,067

Schedule of Business Acquisitions, Goodwill

The Company recognized the following change in goodwill related to this acquisition during the thirteen weeks ended March 27, 2016 (in thousands):



Goodwill, beginning of period	$	156,565
Deferred tax impact related to customer relationship intangible assets	5,013
Goodwill, end of period	$	161,578

Schedule of Business Acquisitions, Pro Forma Information



	Thirteen Weeks Ended March 29, 2015
	(In thousands, except per share amount)
Net sales	$	2,208,219
Net income attributable to Pilgrim's Pride Corporation	211,510
Net income attributable to Pilgrim's Pride Corporation per common share - diluted	0.81

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 27, 2016

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:



	March 27, 2016
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	1,956		$	—	$	—	$	1,956
Fair value liabilities:
Commodity futures instruments	(4,809		)	—		—		(4,809		)
Commodity options instruments	(57		)	—		—		(57		)



	December 27, 2015
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	59		$	—	$	—	$	59
Commodity options instruments	1,618			—		—		1,618
Fair value liabilities:
Commodity futures instruments	(5,436		)	—		—		(5,436		)

Schedule of Fair Value and Carrying Value of Debt Obligations

Fair value and carrying value for our fixed-rate debt obligation is as follows:



	March 27, 2016				December 27, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
			(In thousands)
Fixed-rate senior notes payable at 5.75%, at Level 1 inputs	(500,000	)	(510,000	)	(500,000	)	(488,750	)

TRADE ACCOUNTS AND OTHER RECEIVABLES (Tables)

3 Months Ended

Mar. 27, 2016

Accounts Receivable, Net [Abstract]

Schedule of Trade Accounts and Other Receivables

Trade accounts and other receivables, less allowance for doubtful accounts, consisted of the following:



	March 27, 2016			December 27, 2015
	(In thousands)
Trade accounts receivable	$	333,925		$	342,466
Notes receivable - current	788			850
Other receivables	17,979			10,578
Receivables, gross	352,692			353,894
Allowance for doubtful accounts	(5,291		)	(4,900		)
Receivables, net	$	347,401		$	348,994

Account receivable from related parties^(a)	$	6,155		$	2,668

(a) Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.

INVENTORIES (Tables)

3 Months Ended

Mar. 27, 2016

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following:



	March 27, 2016		December 27, 2015
	(In thousands)
Live chicken and hens	$	370,161	$	365,062
Feed, eggs and other	217,571		215,859
Finished chicken products	181,983		191,988
Total chicken inventories	769,715		772,909
Commercial feed and other	8,813		28,448
Total inventories	$	778,528	$	801,357

INVESTMENTS IN SECURITIES (Tables)

3 Months Ended

Mar. 27, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-For-Sale Securities

The following table summarizes our investments in available-for-sale securities:



	March 27, 2016				December 27, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Cash equivalents:
Fixed income securities	$	438,246	$	438,246	$	290,795	$	290,795
Other	58		58		54,831		54,831

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 27, 2016

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 (owed to) brokers is included in the following table:



	March 27, 2016			December 27, 2015
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	1,956		$	1,677
Commodity derivative liabilities	(4,866		)	(5,436		)
Cash collateral posted with brokers	7,631			9,381
Derivatives coverage^(a):
Corn	3.5		%	7.0		%
Soybean meal	(15.4		)%	4.1		%
Period through which stated percent of needs are covered:
Corn	March 2017			March 2017
Soybean meal	September 2016			July 2016


(a)	Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 27, 2016

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment (“PP&E”), net consisted of the following:



	March 27, 2016			December 27, 2015
	(In thousands)
Land	$	105,961		$	105,165
Buildings	1,155,520			1,131,379
Machinery and equipment	1,707,421			1,657,573
Autos and trucks	53,206			53,408
Construction-in-progress	111,236			152,619
PP&E, gross	3,133,344			3,100,144
Accumulated depreciation	(1,782,454		)	(1,747,615		)
PP&E, net	$	1,350,890		$	1,352,529

CURRENT LIABILITIES (Tables)

3 Months Ended

Mar. 27, 2016

Payables and Accruals [Abstract]

Schedule of Current Liabilities

Current liabilities, other than current notes payable to banks, income taxes and current maturities of long-term debt, consisted of the following components:



	March 27, 2016		December 27, 2015
	(In thousands)
Accounts payable:
Trade accounts	$	409,550	$	436,188
Book overdrafts	58,644		44,145
Other payables	3,758		2,621
Total accounts payable	471,952		482,954
Accounts payable to related parties^(a)	1,654		7,000
Accrued expenses and other current liabilities:
Compensation and benefits	79,411		112,583
Interest and debt-related fees	1,741		8,928
Insurance and self-insured claims	100,072		93,336
Derivative liabilities:
Futures	4,809		5,436
Options	57		—
Other accrued expenses	93,159		94,683
Total accrued expenses and other current liabilities	279,249		314,966
	$	752,855	$	804,920

(a) Additional information regarding accounts payable from related parties is included in “Note 15. Related Party Transactions.”

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Tables)

3 Months Ended

Mar. 27, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Other Borrowing Arrangements

Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components:



	Maturity	March 27, 2016			December 27, 2015
		(In thousands)
Long-term debt and other long-term borrowing arrangements:
Senior notes payable at 5.75%	2025	$	500,000		$	500,000
U.S. Credit Facility (defined below):
Term note payable at 1.69%	2020	500,000			500,000
Revolving note payable	2020	—			—
Capital lease obligations	Various	441			462
Long-term debt		1,000,441			1,000,462
Less: Current maturities of long-term debt		(88		)	(86		)
Long-term debt, less current maturities		1,000,353			1,000,376
Less: Capitalized financing costs		(13,953		)	(14,867		)
Long-term debt, less current maturities, net of capitalized financing costs:		$	986,400		$	985,509

Current notes payable to banks
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.90%	2016	$	21,577		$	28,726

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

3 Months Ended

Mar. 27, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of Defined Benefit Plan Obligations and Assets



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Change in projected benefit obligation:	(In thousands)
Projected benefit obligation, beginning of period	$	165,952		$	1,672		$	190,401		$	1,657
Interest cost	1,396			12			1,938			17
Actuarial losses	4,417			51			6,915			38
Benefits paid	(2,365		)	(35		)	(1,479		)	(32		)
Curtailments and settlements	—			—			(11,945		)	—
Projected benefit obligation, end of period	$	169,400		$	1,700		$	185,830		$	1,680



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Change in plan assets:	(In thousands)
Fair value of plan assets, beginning of period	$	96,947		$	—		$	113,552		$	—
Actual return on plan assets	(5,446		)	—			2,061			—
Contributions by employer	2,541			35			1,881			32
Benefits paid	(2,365		)	(35		)	(1,479		)	(32		)
Curtailments and settlements	—			—			(11,945		)	—
Fair value of plan assets, end of period	$	91,677		$	—		$	104,070		$	—



	March 27, 2016						December 27, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Funded status:	(In thousands)
Unfunded benefit obligation, end of period	$	(77,723	)	$	(1,700	)	$	(69,005	)	$	(1,672	)



	March 27, 2016						December 27, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:	(In thousands)
Current liability	$	(10,774	)	$	(139	)	$	(10,779	)	$	(138	)
Long-term liability	(66,949		)	(1,561		)	(58,226		)	(1,534		)
Recognized liability	$	(77,723	)	$	(1,700	)	$	(69,005	)	$	(1,672	)



	March 27, 2016					December 27, 2015
	Pension Benefits		Other Benefits			Pension Benefits		Other Benefits
Amounts recognized in accumulated other comprehensive loss at end of period:	(In thousands)
Net actuarial loss (gain)	$	49,126	$	(28	)	$	38,115	$	(79	)

Schedule of Net Defined Benefit Pension and Other Postretirement Costs

Net defined benefit pension and other postretirement costs included the following components:



	Thirteen Weeks Ended March 27, 2016					Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits		Pension Benefits			Other Benefits
	(In thousands)
Interest cost	$	1,396		$	12	$	1,938		$	17
Estimated return on plan assets	(1,314		)	—		(1,671		)	—
Settlement loss	—			—		3,062			—
Amortization of net loss	165			—		179			—
Net costs	$	247		$	12	$	3,508		$	17

Schedule of Economic Assumptions

The weighted average assumptions used in determining pension and other postretirement plan information were as follows:



	March 27, 2016				December 27, 2015
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
Assumptions used to measure benefit obligation at end of period:
Discount rate	4.18	%	3.55	%	4.47	%	4.47	%



	Thirteen Weeks Ended March 27, 2016				Thirteen Weeks Ended March 29, 2015
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
Assumptions used to measure net pension and other postretirement cost:
Discount rate	4.47	%	4.47	%	4.22	%	4.22	%
Expected return on plan assets	5.50	%	NA		6.00	%	NA

Schedule of Plan Asset Allocations

The following table reflects the pension plans’ actual asset allocations:



	March 27, 2016		December 27, 2015
Cash and cash equivalents	—	%	—	%
Pooled separate accounts^(a):
Equity securities	7	%	7	%
Fixed income securities	7	%	7	%
Common collective trust funds^(a):
Equity securities	57	%	57	%
Fixed income securities	29	%	29	%
Total assets	100	%	100	%

(a)

Schedule of Fair Value Measurements of Plan Assets

The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of March 27, 2016 and December 27, 2015:



	March 27, 2016								December 27, 2015
	Level 1^(a)		Level 2^(b)		Level 3^(c)		Total		Level 1^(a)		Level 2^(b)		Level 3^(c)		Total
	(In thousands)
Cash and cash equivalents	$	126	$	—	$	—	$	126	$	147	$	—	$	—	$	147
Pooled separate accounts:
Large U.S. equity funds^(d)	—		3,692		—		3,692		—		3,816		—		3,816
Small/Mid U.S. equity funds^(e)	—		937		—		937		—		969		—		969
International equity funds^(f)	—		1,498		—		1,498		—		1,606		—		1,606
Fixed income funds^(g)	—		6,149		—		6,149		—		6,337		—		6,337
Common collective trusts funds:
Large U.S. equity funds^(d)	—		21,657		—		21,657		—		22,069		—		22,069
Small U.S. equity funds^(e)	—		15,392		—		15,392		—		16,843		—		16,843
International equity funds^(f)	—		15,415		—		15,415		—		16,629		—		16,629
Fixed income funds^(g)	—		26,811		—		26,811		—		28,531		—		28,531
Total assets	$	126	$	91,551	$	—	$	91,677	$	147	$	96,800	$	—	$	96,947


(a)	Unadjusted quoted prices in active markets for identical assets are used to determine fair value.


(b)	Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value.


(c)	Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value.


(d)	This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods.


(e)	This category is generally comprised of investment options that invest in stocks, or shares of ownership, in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns.


(f)	This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S.

(g)

Schedule of Benefit Payments



	Pension Benefits		Other Benefits
	(In thousands)
2016 (remaining)	$	10,653	$	104
2017	11,660		139
2018	11,406		140
2019	11,063		139
2020	11,075		138
2021-2025	49,795		643
Total	$	105,652	$	1,303

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:



	Thirteen Weeks Ended March 27, 2016						Thirteen Weeks Ended March 29, 2015
	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits
	(In thousands)
Net actuarial loss (gain), beginning of period	$	38,115		$	(79	)	$	43,907		$	(127	)
Amortization	(165		)	—			(179		)	—
Curtailment and settlement adjustments	—			—			(3,062		)	—
Actuarial loss	4,417			51			6,914			39
Asset loss (gain)	6,759			—			(389		)	—
Net actuarial loss (gain), end of period	$	49,126		$	(28	)	$	47,191		$	(88	)

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 27, 2016

Equity [Abstract]

Schedule of Changes in Unrealized Actuarial Losses

The following tables provide information regarding the changes in accumulated other comprehensive loss:



	Thirteen Weeks Ended March 27, 2016^(a)									Thirteen Weeks Ended March 29, 2015^(a)
	Losses Related to Pension and Other Postretirement Benefits			Unrealized Holding Gains on Available-for-Sale Securities			Total			Losses Related to Pension and Other Postretirement Benefits			Unrealized Holding Gains on Available-for-Sale Securities			Total
	(In thousands)
Balance, beginning of period	$	(58,997	)	$	67		$	(58,930	)	$	(62,572	)	$	31		$	(62,541	)
Other comprehensive income (loss) before reclassifications	(6,988		)	171			(6,817		)	(2,180		)	32			(2,148		)
Amounts reclassified from accumulated other comprehensive loss to net income	103			(141		)	(38		)	111			(51		)	60
Net current period other comprehensive income (loss)	(6,885		)	30			(6,855		)	(2,069		)	(19		)	(2,088		)
Balance, end of period	$	(65,882	)	$	97		$	(65,785	)	$	(64,641	)	$	12		$	(64,629	)


(a)	All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss.

Schedule of Reclassification from Accumulated Other Comprehensive Loss



	Amount Reclassified from Accumulated Other Comprehensive Loss^(a)
Details about Accumulated Other Comprehensive Loss Components	Thirteen Weeks Ended March 27, 2016			Thirteen Weeks Ended March 29, 2015			Affected Line Item in the Condensed Consolidated Statements of Operations
	(In thousands)
Realized gain on sale of securities	$	226		$	82		Interest income
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Union employees pension plan^(b)(d)	(5		)	(6		)	Cost of sales
Legacy Gold Kist plans^(c)(d)	(50		)	—			Cost of sales
Legacy Gold Kist plans^(c)(d)	(110		)	(173		)	Selling, general and administrative expense
Total before tax	61			(97		)
Tax benefit (expense)	(23		)	37
Total reclassification for the period	$	38		$	(60	)


(a)	Amounts in parentheses represent debits to results of operations.


(b)	The Company sponsors the Pilgrim’s Pride Retirement Plan for Union Employees, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements.

(c)


(d)	These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See “Note 12. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements.

Pro Forma Information, Special Cash Dividend



	March 27, 2016		Special Cash Dividend				March 27, 2016
			(In thousands)
Cash and cash equivalents	$	574,888	$	145,112		(a)	$	20,000
			(700,000		)	(b)
Other current assets	1,238,954		—				1,238,954
Total current assets	1,813,842		(554,888		)		1,258,954
Other assets	1,572,908		—				1,572,908
Total assets	$	3,386,750	$	(554,888	)		$	2,831,862

Long-term debt, less current maturities	$	986,400	$	145,112			$	1,131,512
Other liabilities	1,029,161		—				1,029,161
Total stockholders' equity	1,371,189		(700,000		)		671,189
Total liabilities and stockholders' equity	$	3,386,750	$	(554,888	)		$	2,831,862

(a) To reflect cash from borrowing of long-term debt used to pay the special cash dividend to stockholders.

(b) To reflect the payment of the special cash divided to stockholders.

INCENTIVE COMPENSATION (Tables)

3 Months Ended

Mar. 27, 2016

INCENTIVE COMPENSATION [Abstract]

Schedule of Awards

The following awards were outstanding during the thirteen weeks ended March 27, 2016:

Award Type

Benefit

Plan

Awards Granted

Grant

Date

Grant Date Fair Value per Award^(a)

Vesting Condition

Vesting Date

Estimated Forfeiture Rate

Awards Forfeited to Date

Settlement Method

RSU

LTIP

462,518

02/19/2014

16.70

Service

12/31/2016

13.49

73,761

Stock

RSU

LTIP

269,662

03/03/2014

17.18

Performance / Service

12/31/2017

12.34

32,898

Stock

RSU

LTIP

158,226

02/26/2015

27.51

Performance / Service

12/31/2018

(b)

158,226

Stock


(a)	The fair value of each RSA and RSU granted or vested represents the closing price of the Company's common stock on the respective grant date or vesting date.


(b)	Performance conditions associated with these awards were not satisfied. Therefore, 100% of the awards were forfeited.

Schedule of Compensation Cost and Income Tax Benefit

Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below:



	Thirteen Weeks Ended
	March 27, 2016		March 29, 2015
	(In thousands)
Share-based compensation cost:
Cost of sales	$	99	$	113
Selling, general and administrative expense	781		684
Total	$	880	$	797

Income tax benefit	$	257	$	243

Schedule of Restricted Share and Restricted Stock Unit Activity

The Company’s RSA and RSU activity is included below:



	Thirteen Weeks Ended March 27, 2016				Thirteen Weeks Ended March 29, 2015
	Number		Weighted Average Grant Date Fair Value		Number		Weighted Average Grant Date Fair Value
	(In thousands, except weighted average fair values)
RSAs:
Outstanding at beginning of period	—		$	—	30		$	8.72
Vested	—		—		(15	)	8.72
Forfeited	—		—		—		—
Outstanding at end of period	—		$	—	15		$	8.72

RSUs:
Outstanding at beginning of period	774		$	18.78	1,120		$	11.97
Granted	—		—		428		21.00
Vested	—		—		(671	)	8.81
Forfeited	(148	)	26.82		—		—
Outstanding at end of period	626		$	16.88	877		$	18.80

RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Mar. 27, 2016

Schedule of Related Party Transactions



	Thirteen Weeks Ended
	March 27, 2016		March 29, 2015
	(In thousands)
JBS USA Food Company Holdings:
Letter of credit fees^(a)	$	202	$	317
JBS USA Food Company:
Purchases from JBS USA Food Company^(b)	20,511		27,580
Expenditures paid by JBS USA Food Company on behalf of Pilgrim’s Pride Corporation^(c)	7,604		8,580
Sales to JBS USA Food Company^(b)	3,302		6,868
Expenditures paid by Pilgrim’s Pride Corporation on behalf of JBS USA Food Company^(c)	6,963		1,715
JBS Chile Ltda.:
Sales to JBS Chile Ltda.	205		165
JBS Global (UK) Ltd.:
Sales to JBS Global (UK) Ltd.	122		—

(a)

(b)

(c)

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) bird / WK in Millions, lb in Billions	3 Months Ended
	Mar. 27, 2016 employee bird / WK state grower country segment lb
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity exports products \| country	90
Number of states in which entity operates \| state	12
Number of employees \| employee	37,900
Maximum processing capacity of employees per week (in birds per week) (more than) \| bird / WK	37
Maximum annual processing capacity of employees (in pounds) (more than) \| lb	11
Number of contract growers \| grower	4,035
Percentage of beneficial ownership by holding company	76.70%
Number of reportable segments \| segment	1

BUSINESS ACQUISITION (Narrative) (Details) bird / WK in Millions, $ in Millions		3 Months Ended
	Jun. 29, 2015 USD ($) employee bird / WK trade_name plant distribution_center	Mar. 27, 2016 USD ($) employee bird / WK
Business Acquisition [Line Items]
Maximum processing capacity of employees per week (in birds per week) \| bird / WK		37.0
Number of employees of acquiree (more than) \| employee		37,900
Tyson Mexico [Member]
Business Acquisition [Line Items]
Percentage of equity acquired	100.00%
Maximum processing capacity of employees per week (in birds per week) \| bird / WK	2.5
Number of processing plants acquired \| plant	3
Number of employees of acquiree (more than) \| employee	4,500
Number of distribution centers acquired \| distribution_center	7
Transaction costs	$ 2.2
Net sales of acquiree since acquisition date		$ 102.9
Net loss of acquiree since acquisition date		$ 0.2
Tyson Mexico [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Indefinite-lived trade names acquired, number of trade names valued using the income approach \| trade_name	2
Indefinite-lived trade names acquired, royalty rate saved used in determination of fair value	1.40%
Indefinite-lived trade names acquired, net sales growth rate used in determination of fair value, terminal year	3.80%
Indefinite-lived trade names acquired, income tax rate used in determination of fair value	30.00%
Indefinite-lived trade names acquired, income tax amortization benefit rate used in determination of fair value	15.00%
Indefinite-lived trade names acquired, discount rate used in determination of fair value	12.00%
Indefinite-lived trade names acquired, fair value	$ 9.7
Tyson Mexico [Member] \| Trade Names [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Indefinite-lived trade names acquired, royalty rates used in determination of fair value	4.00%
Indefinite-lived trade names acquired, net sales growth rate used in determination of fair value	3.50%
Tyson Mexico [Member] \| Trade Names [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Indefinite-lived trade names acquired, royalty rates used in determination of fair value	5.00%
Indefinite-lived trade names acquired, net sales growth rate used in determination of fair value	4.00%
Tyson Mexico [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Finite-lived customer relationships acquired, net sales growth rate	4.00%
Finite-lived customer relationships acquired, customer attrition rate	15.00%
Finite-lived customer relationships acquired, income tax rate	30.00%
Finite-lived customer relationships acquired, income tax amortization benefit rate	15.80%
Finite-lived customer relationships acquired, discount rate	13.10%
Finite-lived customer relationships acquired, fair value	$ 16.7

BUSINESS ACQUISITION (Consideration Paid) (Details) - Tyson Mexico [Member] $ in Thousands	Jun. 29, 2015 USD ($)
Business Acquisition [Line Items]
Negotiated sales price	$ 400,000
Working capital adjustment	(20,933)
Final purchase price	$ 379,067

BUSINESS ACQUISITION (Fair Values of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Jun. 29, 2015
Business Acquisition [Line Items]
Goodwill	$ 161,578	$ 156,565
Tyson Mexico [Member]
Business Acquisition [Line Items]
Cash and cash equivalents			$ 5,535
Trade accounts and other receivables			24,173
Inventories			68,130
Prepaid expenses and other current assets			7,661
Property, plant and equipment			157,752
Identifiable intangible assets			26,411
Other long-lived assets			199
Total assets acquired			289,861
Accounts payable			21,550
Other current liabilities			8,707
Long-term deferred tax liabilities			36,960
Other long-term liabilities			5,155
Total liabilities assumed			72,372
Total identifiable net assets			217,489
Goodwill			161,578
Total net assets			$ 379,067

BUSINESS ACQUISITION (Changes in Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2016 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 156,565
Deferred tax impact related to customer relationship intangible assets	5,013
Goodwill, end of period	$ 161,578

BUSINESS ACQUISITION (Pro Forma Information) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 27, 2016 USD ($) $ / shares
Business Combinations [Abstract]
Net sales	$ 2,208,219
Net income attributable to Pilgrim's Pride Corporation	$ 211,510
Net income attributable to Pilgrim's Pride Corporation per common share - diluted (in usd per share) \| $ / shares	$ 0.81

FAIR VALUE MEASUREMENTS (Schedule of Assets and Liabilities Measured on a Recurring Basis) (Details) - Recurring [Member] - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Commodity futures instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 1,956	$ 59
Derivative liabilities	(4,809)	(5,436)
Commodity options instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,618
Derivative liabilities	(57)
Level 1 [Member] \| Commodity futures instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,956	59
Derivative liabilities	(4,809)	(5,436)
Level 1 [Member] \| Commodity options instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,618
Derivative liabilities	(57)
Level 2 [Member] \| Commodity futures instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 2 [Member] \| Commodity options instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Derivative liabilities	0
Level 3 [Member] \| Commodity futures instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 3 [Member] \| Commodity options instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 0
Derivative liabilities	$ 0

FAIR VALUE MEASUREMENTS (Schedule of Fair Value and Carrying Amount of Debt Obligations) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 11, 2015
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate senior notes payable	$ (500,000)	$ (500,000)
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate senior notes payable	$ (510,000)	$ (488,750)
Senior Notes [Member] \| Senior Notes 5.75% Due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.75%		5.75%

TRADE ACCOUNTS AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Accounts Receivable, Net [Abstract]
Trade accounts receivable	$ 333,925	$ 342,466
Notes receivable - current	788	850
Other receivables	17,979	10,578
Receivables, gross	352,692	353,894
Allowance for doubtful accounts	(5,291)	(4,900)
Receivables, net	347,401	348,994
Account receivable from related parties	$ 6,155	$ 2,668

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Inventory [Line Items]
Total inventories	$ 778,528	$ 801,357
Live Chicken and Hens [Member]
Inventory [Line Items]
Total inventories	370,161	365,062
Feed, Eggs and Other [Member]
Inventory [Line Items]
Total inventories	217,571	215,859
Finished Chicken Products [Member]
Inventory [Line Items]
Total inventories	181,983	191,988
Chicken Inventories [Member]
Inventory [Line Items]
Total inventories	769,715	772,909
Commercial Feed and Other [Member]
Inventory [Line Items]
Total inventories	$ 8,813	$ 28,448

INVESTMENTS IN SECURITIES (Details) - USD ($)	3 Months Ended
INVESTMENTS IN SECURITIES (Details) - USD ($)	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains, available-for-sale securities	$ 400,000	$ 100,000
Gross realized losses, available-for-sale securities	16,700	8,300
Proceeds from sale or maturity of available-for-sale securities	0	$ 0
Fixed income securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed income securities, Amortized Cost	438,246,000		$ 290,795,000
Fixed income securities, Fair Value	438,246,000		290,795,000
Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed income securities, Amortized Cost	58,000		54,831,000
Fixed income securities, Fair Value	$ 58,000		$ 54,831,000

DERIVATIVE FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gains (losses) on derivative financial instruments	$ 4.1	$ 23.4

DERIVATIVE FINANCIAL INSTRUMENTS (Schedule of Outstanding Derivative Instruments and Cash Collateral) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2016	Dec. 27, 2015
Fair values:
Cash collateral posted with brokers	$ 7,631	$ 9,381
Corn [Member]
Derivatives Coverage:
Derivatives coverage (as a percentage)	3.50%	7.00%
Period through which stated percent of needs are covered:
Maturity date	Mar. 31, 2017	Mar. 31, 2017
Soybean Meal [Member]
Derivatives Coverage:
Derivatives coverage (as a percentage)	(15.40%)	4.10%
Period through which stated percent of needs are covered:
Maturity date	Sep. 30, 2016	Jul. 31, 2016
Commodity [Member]
Fair values:
Derivative assets, gross	$ 1,956	$ 1,677
Derivative liabilities, gross	$ (4,866)	$ (5,436)

PROPERTY, PLANT AND EQUIPMENT (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Property, Plant and Equipment [Abstract]
Depreciation	$ 38,500	$ 34,000
Payments for capital projects	37,074	32,591
Transfer of property, plant and equipment	77,300	45,200
Proceeds from property disposals	610	867
Net gain (loss) on property disposals	129	$ 881
Assets held for sale	6,555		$ 6,555
Idled assets, carrying amount	68,200
Idled assets, depreciable value	198,000
Idled assets, accumulated depreciation	$ 129,800

PROPERTY, PLANT AND EQUIPMENT (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Property, Plant and Equipment [Line Items]
PP&E, gross	$ 3,133,344	$ 3,100,144
Accumulated depreciation	(1,782,454)	(1,747,615)
PP&E, net	1,350,890	1,352,529
Land [Member]
Property, Plant and Equipment [Line Items]
PP&E, gross	105,961	105,165
Buildings [Member]
Property, Plant and Equipment [Line Items]
PP&E, gross	1,155,520	1,131,379
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
PP&E, gross	1,707,421	1,657,573
Autos and trucks [Member]
Property, Plant and Equipment [Line Items]
PP&E, gross	53,206	53,408
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
PP&E, gross	$ 111,236	$ 152,619

CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Accounts payable:
Trade accounts	$ 409,550	$ 436,188
Book overdrafts	58,644	44,145
Other payables	3,758	2,621
Total accounts payable	471,952	482,954
Accounts payable to related parties	1,654	7,000
Accrued expenses and other current liabilities:
Compensation and benefits	79,411	112,583
Interest and debt-related fees	1,741	8,928
Insurance and self-insured claims	100,072	93,336
Derivative liabilities:
Other accrued expenses	93,159	94,683
Total accrued expenses and other current liabilities	279,249	314,966
Total accounts payable, accrued expenses and other current liabilities	752,855	804,920
Futures [Member]
Derivative liabilities:
Derivative liabilities	4,809	5,436
Options [Member]
Derivative liabilities:
Derivative liabilities	$ 57	$ 0

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Narrative) (Details)					3 Months Ended
	Apr. 22, 2015 USD ($)	Mar. 12, 2015 USD ($)	Feb. 11, 2015 USD ($)	Jul. 23, 2014 MXN ($)	Mar. 27, 2016 USD ($)	Dec. 27, 2015 USD ($)	Mar. 11, 2015 USD ($)
Debt Instrument [Line Items]
Long-term debt					$ 1,000,441,000	$ 1,000,462,000
Short-term borrowings under credit facility					21,577,000	28,726,000
2015 US Credit Facility Revolver [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Long-term debt					$ 0	0
2015 US Credit Facility Term Loans [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Stated interest rate					1.69%
Long-term debt					$ 500,000,000	500,000,000
Mexico Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 1,500,000,000.0	85,500,000
Current borrowing capacity					63,900,000
Short-term borrowings under credit facility					$ 21,600,000
Interest rate on short-term credit facility amounts outstanding					4.99%
Mexico Credit Facility [Member] \| TIIE Rate [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				0.90%	0.90%
Senior Notes [Member] \| Senior Notes 5.75% Due 2025 [Member]
Debt Instrument [Line Items]
Aggregate principal amount							$ 500,000,000
Stated interest rate					5.75%		5.75%
Long-term debt					$ 500,000,000	$ 500,000,000
Radobank [Member] \| 2015 US Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Repayments of lines of credit		$ 350,000,000
Maximum borrowing capacity					693,700,000.0
Available increase to aggregate revolving loan commitment			$ 1,000,000,000.0
Number of days past due (more than)			15 days
Current borrowing capacity					676,000,000
Letters of credit outstanding					17,700,000
Credit facility, capital expenditures limit			$ 500,000,000.0
Radobank [Member] \| 2015 US Credit Facility [Member] \| Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			75,000,000.0
Radobank [Member] \| 2015 US Credit Facility [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 125,000,000.0
Radobank [Member] \| 2015 US Credit Facility [Member] \| US and Puerto Rico Subsidiaries [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Percentage of equity interest guaranteed for debt			100.00%
Radobank [Member] \| 2015 US Credit Facility [Member] \| Foreign Subsidiaries [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Percentage of equity interest guaranteed for debt			65.00%
Radobank [Member] \| 2015 US Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
Radobank [Member] \| 2015 US Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.25%
Radobank [Member] \| 2015 US Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			2.75%
Radobank [Member] \| 2015 US Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Radobank [Member] \| 2015 US Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.25%
Radobank [Member] \| 2015 US Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Radobank [Member] \| 2015 US Credit Facility Revolver [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 700,000,000.0
Outstanding borrowings					0
Radobank [Member] \| 2015 US Credit Facility Term Loans [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Repayments of lines of credit	$ 150,000,000
Maximum borrowing capacity			$ 1,000,000,000.0
Long-term debt					$ 500,000,000

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Schedule of Long-term Debt and Other Borrowing Arrangements) (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 23, 2014	Mar. 27, 2016	Dec. 27, 2015	Mar. 11, 2015
Debt Instrument [Line Items]
Long-term debt		$ 1,000,441	$ 1,000,462
Less: Current maturities of long-term debt		(88)	(86)
Long-term debt, less current maturities		1,000,353	1,000,376
Less: Capitalized financing costs		(13,953)	(14,867)
Long-term debt, less current maturities, net of capitalized financing costs:		$ 986,400	985,509
Line of Credit [Member] \| 2015 US Credit Facility Term Loans [Member]
Debt Instrument [Line Items]
Stated interest rate		1.69%
Long-term debt		$ 500,000	500,000
Line of Credit [Member] \| 2015 US Credit Facility Revolver [Member]
Debt Instrument [Line Items]
Long-term debt		0	0
Line of Credit [Member] \| Mexico Credit Facility [Member]
Debt Instrument [Line Items]
Current notes payable to banks		$ 21,577	28,726
Line of Credit [Member] \| Mexico Credit Facility [Member] \| TIIE Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%	0.90%
Senior Notes [Member] \| Senior Notes 5.75% Due 2025 [Member]
Debt Instrument [Line Items]
Stated interest rate		5.75%		5.75%
Long-term debt		$ 500,000	500,000
Other Long Term Debt [Member]
Debt Instrument [Line Items]
Long-term debt		$ 441	$ 462

INCOME TAXES (Details) - USD ($)	3 Months Ended
INCOME TAXES (Details) - USD ($)	Mar. 27, 2016	Mar. 29, 2015
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 62,604,000	$ 111,494,000
Effective income tax rate	34.70%	35.30%
Gain (loss) associated with pension and other postretirement benefits, tax benefit	$ 4,176,000	$ 1,255,000
Tax benefit related to share-based compensation		7,834,000
Additional Paid-in Capital [Member]
Operating Loss Carryforwards [Line Items]
Tax benefit related to share-based compensation	$ 0	$ 7,834,000

PENSION AND OTHER POSTRETIREMENT BENEFITS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Retirement plan expenses	$ 1.6	$ 4.5
Accumulated benefit obligation, defined benefit pension plans	169.4		$ 166.0
Actuarial gain (loss) expected to be recognized in net pension cost, remainder of 2015	(0.5)
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Expected contributions, remainder of 2015	9.4
Other Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Expected contributions, remainder of 2015	$ 0.1
Fixed income securities [Member] \| Pooled separate accounts [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	50.00%
Fixed income securities [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	30.00%
Equity securities [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	70.00%

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Defined Benefit Plan Obligations and Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015	Dec. 28, 2014
Change in plan assets:
Fair value of plan assets, beginning of period	$ 96,947
Fair value of plan assets, end of period	91,677
Pension Benefits [Member]
Change in projected benefit obligation:
Projected benefit obligation, beginning of period	165,952	$ 190,401
Interest cost	1,396	1,938
Actuarial losses	4,417	6,915
Benefits paid	(2,365)	(1,479)
Curtailments and settlements	0	(11,945)
Projected benefit obligation, end of period	169,400	185,830
Change in plan assets:
Fair value of plan assets, beginning of period	96,947	113,552
Actual return on plan assets	(5,446)	2,061
Contributions by employer	2,541	1,881
Benefits paid	(2,365)	(1,479)
Curtailments and settlements	0	(11,945)
Fair value of plan assets, end of period	91,677	104,070
Funded status:
Unfunded benefit obligation, end of period	(77,723)		$ (69,005)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:
Current liability	(10,774)		(10,779)
Long-term liability	(66,949)		(58,226)
Recognized liability	(77,723)		(69,005)
Amounts recognized in accumulated other comprehensive loss at end of period:
Net actuarial loss (gain)	49,126	47,191	38,115	$ 43,907
Other Benefits [Member]
Change in projected benefit obligation:
Projected benefit obligation, beginning of period	1,672	1,657
Interest cost	12	17
Actuarial losses	51	38
Benefits paid	(35)	(32)
Curtailments and settlements	0	0
Projected benefit obligation, end of period	1,700	1,680
Change in plan assets:
Fair value of plan assets, beginning of period	0	0
Actual return on plan assets	0	0
Contributions by employer	35	32
Benefits paid	(35)	(32)
Curtailments and settlements	0	0
Fair value of plan assets, end of period	0	0
Funded status:
Unfunded benefit obligation, end of period	(1,700)		(1,672)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:
Current liability	(139)		(138)
Long-term liability	(1,561)		(1,534)
Recognized liability	(1,700)		(1,672)
Amounts recognized in accumulated other comprehensive loss at end of period:
Net actuarial loss (gain)	$ (28)	$ (88)	$ (79)	$ (127)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Net Defined Benefit Pension and Other Postretirement Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,396	$ 1,938
Estimated return on plan assets	(1,314)	(1,671)
Settlement loss	0	3,062
Amortization of net loss	165	179
Net costs	247	3,508
Other Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	12	17
Estimated return on plan assets	0	0
Settlement loss	0	0
Amortization of net loss	0	0
Net costs	$ 12	$ 17

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Economic Assumptions) (Details)	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Pension Benefits [Member]
Assumptions used to measure benefit obligation at end of period:
Discount rate	4.18%		4.47%
Assumptions used to measure net pension and other postretirement cost:
Discount rate	4.47%	4.22%
Expected return on plan assets	5.50%	6.00%
Other Benefits [Member]
Assumptions used to measure benefit obligation at end of period:
Discount rate	3.55%		4.47%
Assumptions used to measure net pension and other postretirement cost:
Discount rate	4.47%	4.22%

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Plan Asset Allocations) (Details)	Mar. 27, 2016	Dec. 27, 2015
Defined Benefit Plan Disclosure [Line Items]
Total assets	100.00%	100.00%
Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total assets	0.00%	0.00%
Equity securities [Member] \| Pooled separate accounts [Member]
Defined Benefit Plan Disclosure [Line Items]
Total assets	7.00%	7.00%
Equity securities [Member] \| Common collective trusts funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total assets	57.00%	57.00%
Fixed income securities [Member] \| Pooled separate accounts [Member]
Defined Benefit Plan Disclosure [Line Items]
Total assets	7.00%	7.00%
Fixed income securities [Member] \| Common collective trusts funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total assets	29.00%	29.00%

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Benefit Payments) (Details) $ in Thousands	Mar. 27, 2016 USD ($)
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
2016 (remaining)	$ 10,653
2017	11,660
2018	11,406
2019	11,063
2020	11,075
2021-2025	49,795
Total	105,652
Other Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
2016 (remaining)	104
2017	139
2018	140
2019	139
2020	138
2021-2025	643
Total	$ 1,303

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Unrecognized Benefit Amounts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Actuarial loss	$ 6,885	$ 2,069
Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period	38,115	43,907
Amortization	(165)	(179)
Curtailment and settlement adjustments	0	(3,062)
Actuarial loss	4,417	6,914
Asset loss (gain)	6,759	(389)
Net actuarial loss (gain), end of period	49,126	47,191
Other Benefits [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period	(79)	(127)
Amortization	0	0
Curtailment and settlement adjustments	0	0
Actuarial loss	51	39
Asset loss (gain)	0	0
Net actuarial loss (gain), end of period	$ (28)	$ (88)

STOCKHOLDERS' EQUITY (Schedule of Changes in Unrealized Actuarial Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	$ (58,930)	$ (62,541)
Other comprehensive income (loss) before reclassifications	(6,817)	(2,148)
Amounts reclassified from accumulated other comprehensive loss to net income	(38)	60
Total other comprehensive loss, net of tax	(6,855)	(2,088)
Balance, end of period	(65,785)	(64,629)
Losses Related to Pension and Other Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	(58,997)	(62,572)
Other comprehensive income (loss) before reclassifications	(6,988)	(2,180)
Amounts reclassified from accumulated other comprehensive loss to net income	103	111
Total other comprehensive loss, net of tax	(6,885)	(2,069)
Balance, end of period	(65,882)	(64,641)
Unrealized Holding Gains on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	67	31
Other comprehensive income (loss) before reclassifications	171	32
Amounts reclassified from accumulated other comprehensive loss to net income	(141)	(51)
Total other comprehensive loss, net of tax	30	(19)
Balance, end of period	$ 97	$ 12

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

STOCKHOLDERS' EQUITY (Schedule of Reclassification from Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Total reclassification for the period	$ 38	$ (60)
Amount Reclassified from Accumulated Other Comprehensive Loss [Member]
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Total before tax	61	(97)
Tax benefit (expense)	(23)	37
Total reclassification for the period	38	(60)
Amount Reclassified from Accumulated Other Comprehensive Loss [Member] \| Interest income [Member]
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Realized gain on sale of securities	226	82
Amount Reclassified from Accumulated Other Comprehensive Loss [Member] \| Union Plan [Member] \| Cost of sales [Member]
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Amortization of defined benefit pension and other postretirement plan actuarial losses	(5)	(6)
Amount Reclassified from Accumulated Other Comprehensive Loss [Member] \| Legacy Gold Kist Plans [Member] \| Cost of sales [Member]
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Amortization of defined benefit pension and other postretirement plan actuarial losses	(50)	0
Amount Reclassified from Accumulated Other Comprehensive Loss [Member] \| Legacy Gold Kist Plans [Member] \| Selling, general and administrative expenses [Member]
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Amortization of defined benefit pension and other postretirement plan actuarial losses	$ (110)	$ (173)

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($)	Apr. 27, 2016	Feb. 17, 2015	Mar. 27, 2016	Feb. 10, 2016	Dec. 27, 2015	Jul. 28, 2015
Subsequent Event [Line Items]
Share repurchase, authorized amount				$ 300,000,000.0		$ 150,000,000.0
Shares repurchased under program (in shares)			4,974,440
Market value of shares repurchased under program			$ 101,890,000		$ 99,233,000
Special cash dividends		$ 1,500,000,000
Special cash dividends paid (in dollars per share)		$ 5.77
Subsequent Event [Member]
Subsequent Event [Line Items]
Special cash dividends declared (in dollars per share)	$ 2.75
Special cash dividends	$ 700,000,000

STOCKHOLDERS' EQUITY (Pro Forma Information, Special Cash Dividend) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015	Dec. 28, 2014
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 574,888	$ 439,638	$ 478,037	$ 576,143
Other current assets	1,238,954
Total current assets	1,813,842	1,746,224
Other assets	1,572,908
Total assets	3,386,750	3,318,443
Long-term debt, less current maturities	986,400	985,509
Other liabilities	1,029,161
Total stockholders' equity	1,371,189	1,261,810	$ 909,067	$ 2,196,801
Total liabilities and stockholders' equity	3,386,750	$ 3,318,443
Special Cash Dividend, Adjustments [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	145,112
Other current assets	0
Total current assets	(554,888)
Other assets	0
Total assets	(554,888)
Long-term debt, less current maturities	145,112
Other liabilities	0
Total liabilities and stockholders' equity	(554,888)
Pro Forma [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	20,000
Other current assets	1,238,954
Total current assets	1,258,954
Other assets	1,572,908
Total assets	2,831,862
Long-term debt, less current maturities	1,131,512
Other liabilities	1,029,161
Total stockholders' equity	671,189
Total liabilities and stockholders' equity	2,831,862
Dividend Paid [Member] \| Special Cash Dividend, Adjustments [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	(700,000)
Total stockholders' equity	$ (700,000)

INCENTIVE COMPENSATION (Narrative) (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Fair value of awards vested	$ 0	$ 22,400,000
Total unrecognized compensation cost related to all nonvested awards	$ 5,000,000
Weighted average period unrecognized compensation cost is expected to be recognized	1 year 3 months 26 days
Incentive Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Accrued costs related to the STIP	$ 2,800,000
Reserved shares of common stock for future issuance under the LTIP (in shares)	5.3

INCENTIVE COMPENSATION (Schedule of Awards) (Details)	3 Months Ended
INCENTIVE COMPENSATION (Schedule of Awards) (Details)	Mar. 27, 2016 $ / shares shares
RSU 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)	462,518
Grant Date	Feb. 19, 2014
Grant Date Fair Value per Award (in dollars per share) \| $ / shares	$ 16.70
Vesting Date	Dec. 31, 2016
Estimated Forfeiture Rate	13.49%
Awards Forfeited to Date (in shares)	73,761
RSU 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)	269,662
Grant Date	Mar. 03, 2014
Grant Date Fair Value per Award (in dollars per share) \| $ / shares	$ 17.18
Vesting Date	Dec. 31, 2017
Estimated Forfeiture Rate	12.34%
Awards Forfeited to Date (in shares)	32,898
RSU 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)	158,226
Grant Date	Feb. 26, 2015
Grant Date Fair Value per Award (in dollars per share) \| $ / shares	$ 27.51
Vesting Date	Dec. 31, 2018
Awards Forfeited to Date (in shares)	158,226

INCENTIVE COMPENSATION (Schedule of Compensation Cost and Income Tax Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	$ 880	$ 797
Income tax benefit	257	243
Cost of goods sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	99	113
Selling, general and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	$ 781	$ 684

INCENTIVE COMPENSATION (Schedule of Restricted Share and Restricted Stock Unit Activity) (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Restricted Stock Awards (RSA) [Member]
Number
Outstanding at beginning of period (in shares)	0	30
Vested (in shares)	0	(15)
Forfeited (in shares)	0	0
Outstanding at end of period (in shares)	0	15
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 0.00	$ 8.72
Vested (in dollars per share)	0.00	8.72
Forfeited (in dollars per share)	0.00	0.00
Outstanding at end of period (in dollars per share)	$ 0.00	$ 8.72
Restricted Stock Units (RSU) [Member]
Number
Outstanding at beginning of period (in shares)	774	1,120
Granted (in shares)	0	428
Vested (in shares)	0	(671)
Forfeited (in shares)	(148)	0
Outstanding at end of period (in shares)	626	877
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 18.78	$ 11.97
Granted (in dollars per share)	0.00	21.00
Vested (in dollars per share)	0.00	8.81
Forfeited (in dollars per share)	26.82	0.00
Outstanding at end of period (in dollars per share)	$ 16.88	$ 18.80

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Millions	Jun. 25, 2015	Mar. 27, 2016	Dec. 27, 2015	Dec. 28, 2014
Related Party Transaction [Line Items]
Issuance of intercompany loan receivable	$ 100.0
Intercompany note receivable		$ 64.5
Three-month LIBOR [Member]
Related Party Transaction [Line Items]
Margin on variable interest rate	2.50%
Related Party Transaction, Tax Sharing Agreement [Member] \| JBS USA Holdings [Member]
Related Party Transaction [Line Items]
Net tax receivable			$ 3.7	$ 3.8

RELATED PARTY TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Apr. 01, 2016	Mar. 07, 2016	Dec. 27, 2015	Oct. 26, 2011
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 1,654				$ 7,000
JBS USA Holdings [Member] \| Letter of Credit [Member]
Related Party Transaction [Line Items]
Agreed repayment of debt						$ 56,500
JBS Food Company Holdings [Member]
Related Party Transaction [Line Items]
Letter of credit fees	202	$ 317
Letter of credit, terminated				$ 40,000
Interest paid	100
JBS USA Food Company [Member]
Related Party Transaction [Line Items]
Purchases from related parties	20,511	27,580
Expenditures paid	7,604	8,580
Sales to related party	3,302	6,868
Accounts payable to related parties	1,700				7,000
Account receivable from related parties	5,900				$ 2,600
Goods in transit	1,600
JBS USA Food Company [Member] \| Expenses Paid By Company On Behalf Of Related Party [Member]
Related Party Transaction [Line Items]
Expenditures paid	6,963	1,715
JBS Chile Ltda. [Member]
Related Party Transaction [Line Items]
Sales to related party	205	165
JBS Global (UK) Ltd. [Member]
Related Party Transaction [Line Items]
Sales to related party	$ 122	$ 0
Subsequent Event [Member] \| JBS Food Company Holdings [Member]
Related Party Transaction [Line Items]
Letter of credit, terminated			$ 16,500

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Dec. 12, 2012	Mar. 27, 2016	Dec. 27, 2009
Due To Internal Revenue Service [Member]
Loss Contingencies [Line Items]
Damages sought	$ 29.3		$ 74.7
Due To Internal Revenue Service [Member] \| Proceeding Accounts [Member]
Loss Contingencies [Line Items]
Damages sought		$ 45.4
ERISA Litigation [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Damages sought		$ 35.0

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Fair Value Assumptions of Plan Assets) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	$ 91,677	$ 96,947
Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	126	147
Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	91,551	96,800
Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	126	147
Cash and cash equivalents [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	126	147
Cash and cash equivalents [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds [Member] \| Pooled separate accounts [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	3,692	3,816
Large U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	3,692	3,816
Large U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	21,657	22,069
Large U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	21,657	22,069
Large U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds [Member] \| Pooled separate accounts [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	937	969
Small/Mid U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	937	969
Small/Mid U.S. equity funds [Member] \| Pooled separate accounts [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	15,392	16,843
Small/Mid U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	15,392	16,843
Small/Mid U.S. equity funds [Member] \| Common collective trusts funds [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds [Member] \| Pooled separate accounts [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	1,498	1,606
International equity funds [Member] \| Pooled separate accounts [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds [Member] \| Pooled separate accounts [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	1,498	1,606
International equity funds [Member] \| Pooled separate accounts [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	15,415	16,629
International equity funds [Member] \| Common collective trusts funds [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds [Member] \| Common collective trusts funds [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	15,415	16,629
International equity funds [Member] \| Common collective trusts funds [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds [Member] \| Pooled separate accounts [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	6,149	6,337
Fixed income funds [Member] \| Pooled separate accounts [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds [Member] \| Pooled separate accounts [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	6,149	6,337
Fixed income funds [Member] \| Pooled separate accounts [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds [Member] \| Common collective trusts funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	26,811	28,531
Fixed income funds [Member] \| Common collective trusts funds [Member] \| Level 1 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds [Member] \| Common collective trusts funds [Member] \| Level 2 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	26,811	28,531
Fixed income funds [Member] \| Common collective trusts funds [Member] \| Level 3 [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	$ 0	$ 0