INVESTMENTS Investments (Tables)

12 Months Ended

Dec. 28, 2014

Schedule of Equity Method Investments [Line Items]

Schedule of Equity Method Investments [Table Text Block]

Investments consist of the following:



Equity Investment	Segment	% Owned	December 28, 2014		December 29, 2013
			(in millions)
Campofrío Food Group (CFG) ⁽¹⁾	International	37%	$	330.0	$	351.4
Mexican joint ventures	International	50%	142.8		118.0
All other equity method investments	Various	Various	25.2		27.1
Total investments			$	498.0	$	496.5

Equity Method Investments, Policy [Policy Text Block]

We record our share of earnings and losses from our equity method investments in (income) loss from equity method investments. Some of these results are reported on a one-month lag which, in our opinion, does not materially impact our consolidated financial statements.

In November 2013, Mexican processed meats producer Sigma Alimentos (Sigma) announced its intention to tender for all of CFG’s outstanding shares (CFG Tender Offer). In December 2013, we announced our intention to participate in the CFG Tender Offer by retaining our 37% interest in CFG. In June 2014, we finalized our shareholder agreement with Sigma creating a new entity called Sigma & WH Food Europe, S.L. (Sigma & WH Europe) to hold all shares of CFG owned by Sigma and the Company. At the formation of Sigma & WH Europe, both the Company and Sigma contributed all of our shares of CFG to Sigma & WH Europe in exchange for the same number of shares in Sigma & WH Europe. Effective September 19, 2014, CFG's common stock ceased to trade on the Madrid Exchange. As of December 28, 2014, Sigma & WH Europe owned approximately 98% of the outstanding shares of CFG. The CFG Tender Offer and the shareholder agreement with Sigma had no impact on the book value of our investment in CFG.

Schedule of (Income) Loss from Equity Method Investments [Table Text Block]

(Income) loss from equity method investments consists of the following:



		Successor						Predecessor
		Twelve Months Ended									Twelve Months Ended
Equity Investment	Segment	December 28, 2014			September 27 - December 29, 2013			April 29 - September 26, 2013			April 28, 2013			April 29, 2012
		(in millions)
CFG	International	$	(11.1	)	$	(0.3	)	$	(0.4	)	$	(4.8	)	$	25.0
Mexican joint ventures	International	(43.7		)	2.4			2.1			(9.3		)	(13.4		)
All other equity method investments	Various	(3.4		)	0.5			(1.2		)	(0.9		)	(1.7		)
(Income) loss from equity method investments		$	(58.2	)	$	2.6		$	0.5		$	(15.0	)	$	9.9

Campofrio Food Group

Schedule of Equity Method Investments [Line Items]

Schedule of Summarized Financial Information for Equity Method Investment [Table Text Block]

The following summarized financial information for Sigma & WH Europe is based on its financial statements and translated into U.S. Dollars:



	Twelve Months Ended				Twelve Months Ended
	December 28, 2014		April 29 - December 29, 2013		April 28, 2013		April 29, 2012
	(in millions)
Income statement information:
Sales	$	2,564.4	$	1,717.6	$	2,464.6	$	2,536.1
Gross profit	571.9		389.9		564.4		583.0
Net income (loss)	12.6		8.1		13.0		(71.2		)

					December 28, 2014		December 29, 2013
					(in millions)
Balance sheet information:
Current assets					$	913.3	$	821.5
Long-term assets					2,046.2		2,051.2
Current liabilities					1,021.9		999.0
Long-term liabilities					1,046.8		1,077.7

- Definition

Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment.

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