XML 54 R43.htm IDEA: XBRL DOCUMENT v3.22.2.2
RELATED PARTY TRANSACTIONS (Tables)
9 Months Ended
Sep. 25, 2022
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies.
 Three Months EndedNine Months Ended
 September 25, 2022September 26, 2021September 25, 2022September 26, 2021
 (In thousands)
Sales to related parties:
JBS USA Food Company(a)
$8,314 $4,437 $17,911 $11,519 
JBS Australia Pty. Ltd.935 172 2,331 1,994 
Other related parties748 467 1,783 1,331 
Total sales to related parties$9,997 $5,076 $22,025 $14,844 
Three Months EndedNine Months Ended
September 25, 2022September 26, 2021September 25, 2022September 26, 2021
(In thousands)
Cost of goods purchased from related parties:
JBS USA Food Company(a)
$6,393 $62,371 $119,546 $168,167 
Seara Meats BV14,795 1,074 27,926 3,418 
Penasul UK LTD4,091 1,071 10,514 6,227 
JBS Asia Co Limited2,448 — 6,370 
Other related parties699 266 1,161 953 
Total cost of goods purchased from related parties$28,426 $64,782 $165,517 $178,770 
Three Months EndedNine Months Ended
September 25, 2022September 26, 2021September 25, 2022September 26, 2021
(In thousands)
Expenditures paid by related parties:
JBS USA Food Company(b)
$19,035 $27,295 $72,974 $68,027 
Other related parties16 — 71 12 
Total expenditures paid by related parties$19,051 $27,295 $73,045 $68,039 
Three Months EndedNine Months Ended
September 25, 2022September 26, 2021September 25, 2022September 26, 2021
(In thousands)
Expenditures paid on behalf of related parties:
JBS USA Food Company(b)
$7,553 $8,011 $46,895 $35,457 
Total expenditures paid on behalf of related parties$7,553 $8,011 $46,895 $35,457 
September 25, 2022December 26, 2021
(In thousands)
Accounts receivable from related parties:
JBS USA Food Company(a)
$650 $1,059 
Seara Meats BV8,483 — 
Other related parties722 286 
Total accounts receivable from related parties$9,855 $1,345 
September 25, 2022December 26, 2021
(In thousands)
Accounts payable to related parties:
JBS USA Food Company(a)
$6,581 $21,628 
Seara Meats BV3,976 534 
JBS Asia Co Limited3,588 — 
Penasul UK LTD2,639 147 
Other related parties271 
Total accounts payable to related parties$17,055 $22,317 
(a)    The Company routinely executes transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of September 25, 2022, approximately $1.6 million of goods from JBS USA were in transit and not reflected on our Consolidated Balance Sheets.
(b)    The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for 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, 2023.