The Company's pork operations maintain a pig production base that makes up approximately 65% of the total number of pigs processed by the Company each year. Gold n plump grain bids in nc. Current liabilities, other than income taxes and current maturities of long-term debt, consisted of the following components: Accounts payable: Trade accounts. Revenue contract liabilities relate to payments received in advance of satisfying the performance under the customer contract. DOJ Antitrust Matter.
Live chicken inventories are stated at the lower of cost or net realizable value and breeder hen inventories at the lower of cost, less accumulated amortization, or net realizable value. We are involved on an ongoing basis in litigation relating to alleged antitrust violations or arising in the ordinary course of business or otherwise. Immigration reform continues to attract significant attention in the public arena and the U. These assumptions relate to discount rates, long-term return on plan assets and other factors. Background and Experience. Hometown Strong commitment(h). Gold n plump grain bids in richmond. We have taken preventive measures in response; however, we can make no assurance that similar incidents will not arise in the future. A) Uncollectible accounts written off, net of recoveries. A core tenet of our Company is the promotion of a healthy and safe working environment.
The chicken products processed by the Mexico reportable segment are sold to foodservice, retail and frozen entrée customers. Our food processing facilities and feed mills in the U. K., continental Europe and Mexico are subject to on-site examination, inspection and regulation by government agencies that perform functions similar to those performed by the USDA and FDA. A) The milestone date fair value is either the closing price of the Company's common stock on the grant date for equity-based awards or the closing price of a share of the Company's common stock on the respective milestone date for cash-based liability-based awards (i. e., grant date, vesting date, forfeiture date or financial reporting date). Gold eagle coop grain bids. Once the price is locked in there is no need to worry about fluctuations in price, the price is locked in and the grain is considered sold. Significant political or regulatory developments in the jurisdictions in which we sell our products, such as those stemming from the presidential administration in the United States, are difficult to predict and may have a material adverse effect on us.
Certain retirement plans that we sponsor invest in a variety of financial instruments. Employee health and safety is our priority. Such practices could cause damage to the reputations of our company and/or the food production industry in general. Weighted average diluted shares of common stock outstanding. The Company records impairment charges on long-lived assets held for use when events and circumstances indicate that the assets may be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. Accrued Self Insurance. The Company has purchased foreign currency forward contracts to manage this translational foreign exchange risk. The values recorded were determined based on a valuation using management's estimates and assumptions.
"), the United Kingdom ("U. Shareholder litigation settlement(j). If actual market conditions or other factors are less favorable than those projected by management, additional inventory adjustments may be required. The Company's current investments are all highly liquid investments with a maturity of three months or less when acquired and are, therefore, considered cash equivalents. These pathogens are generally found in the environment and there is a risk that, as a result of food processing, they could be present in our processed poultry products. •Our management team members are expected to attend People First leadership training, which includes a model dedicated to training and awareness on diversity and inclusion. Litigation trends and the outcome of litigation cannot be predicted with certainty, and adverse litigation trends and outcomes could result in material damages, which could adversely affect our financial condition and results of operations. With or credit extended by such lender related to the loan, (2) any tax, duty or other charge with respect to the loan (except standard income tax) or (3) capital adequacy requirements.
7 million that resulted from the termination of the 40 North Foods operation. Valuation allowance. The FDA inspects the production of our feed mills in the U. For each class of assets and liabilities not measured at fair value in the Consolidated Balance Sheets but for which fair value is disclosed, the Company is not required to provide the quantitative disclosure about significant unobservable inputs used in fair value measurements categorized within Level 3 of the fair value hierarchy. Property, plant and equipment. Generally, the Company performs an evaluation of whether any lower of cost or net realizable value adjustments are required at the country level based on a number of factors, including: (1) pools of related inventory, (2) product continuation or discontinuation, (3) estimated market selling prices and (4) expected distribution channels. Events and conditions that could result in impairment in the value of our goodwill include changes in the industry in which we operate, particularly the impact of a downturn in the global economy or the economies of geographic regions or countries in which we operate, as well as competition, adverse changes in the regulatory environment, or other factors leading to reduction in expected long-term sales or profitability. B)Long-term debt is presented at face value and excludes $39. We believe our efforts to achieve and maintain brand awareness and loyalty help to achieve greater price premiums than would otherwise be the case in certain markets and support and expand our product distribution. We adopted the new standard on December 31, 2018 and recognized and measured leases at the beginning of the period of adoption. As of December 27, 2020, the Company had recorded a liability of $2.
In the event of an outbreak of African Swine Fever in the U. K., we believe the Company's risks are limited to infection. Our success in these markets may be, and our success in recent periods has been, adversely affected by disruptions in export markets. Defined Benefit Postretirement Life Insurance Plan. In connection with Mr. Penn's leave of absence, PPC's Board of Directors appointed the chief financial officer of PPC, Fabio Sandri, to serve in the additional role of PPC's interim president and chief executive officer. Retail market, competition is based on product quality, brand awareness, customer service and price. Once the present value of the string of benefit payments was established, the Company determined the single rate on the yield curve, that when applied to all obligations of the plan, would exactly match the previously determined present value.
The issuance price of this add-on offering was 97. Based on these assessments, the Company determined that it was not necessary to perform either the two-step quantitative impairment test related to the carrying amount of its goodwill nor the quantitative impairment tests related to the carrying amounts of its identified intangible assets not subject to amortization at that date. We may not be able to successfully integrate the operations of companies we acquire or benefit from growth opportunities. Balance, end of year. 93 per share on March 1, 2018. For 2020, we committed to Hometown Strong donations of $20. The GDPR grants enforcement powers to certain EU regulators including extra-territorial powers in some cases. If the carrying value of our reporting units exceeds their current fair value as determined based on the discounted future cash flows of the related business, the goodwill is considered impaired and is reduced to fair value by a non-cash charge to earnings.
Capital expenditures were primarily incurred to improve operational efficiencies and reduce costs for the years ended December 27, 2020 and December 29, 2019. Name of each exchange on which registered. H) This category is comprised of investment options that invest in real estate investment trusts or private equity pools that own real estate. Credit evaluations are performed on all significant customers and updated as circumstances dictate. CENTIVE COMPENSATION. Certain information regarding our executive officers has been presented under "Information about our Executive Officers" included in "Item 1. Business, " above. For this sensitivity analysis, market risk is estimated as a hypothetical 10% change in the current exchange rate used to convert Mexican pesos to U. dollars as of December 27, 2020. No assurances can be given that enforcement efforts by governmental authorities will not disrupt a portion of our workforce or operations at one or more facilities, thereby negatively impacting our business.
There are rarely contract assets related to costs incurred to perform in advance of scheduled billings. On May 1, 2019, the Company's stockholders approved the Pilgrim's Pride Corporation 2019 Long Term Incentive Plan (the "2019 LTIP"), which replaced the expiring Pilgrim's Pride Corporation 2009 Long-Term Incentive Plan (the "2009 LTIP"). Emerging growth company. In an effort to counter the adverse effects of COVID-19, we have transitioned, where commercially reasonable and possible to do so, our business operations to be in the best position to supply COVID-19 market demands. 0 million in outstanding indebtedness tied to LIBOR. The accumulated benefit obligation for the Company's defined benefit pension plans was $404.
These investment options typically carry more risk, including liquidity risk, than fixed income investment options. The Company deems its earnings from Mexico, Puerto Rico and the U. as of December 27, 2020 to be permanently reinvested. Our performance depends on favorable labor relations with our employees and our compliance with labor laws. Total Number of Shares Purchased. Our operations may be adversely impacted by the U. We expect to fund these capital expenditures with cash flow from operations and proceeds from the revolving lines of credit under our various debt facilities. Insurance expense for casualty claims and employee-related health care benefits are estimated using historical and current experience and actuarial estimates. Tulip, which has subsequently changed its name to Pilgrim's Pride Ltd. ("PPL"), is a leading, integrated prepared pork supplier headquartered in Warwick, U. This increased attention on environmental, social and governance practices could cause us to incur additional compliance costs, divert management attention from operating our business, impair our access to capital among certain investors and subject us to litigation risk for disclosures we make and practices we adopt regarding these issues. We currently have hedging transactions and debt agreements that reference LIBOR and will apply the new guidance as these contracts are modified to reference other rates.
The following items were measured at fair value on a recurring basis: See "Note 5. When the derivative financial instruments associated with the effective portion are settled, the amount in AOCI is then reclassified to earnings. Revenue is currently recognized at destination and will continue to be recognized at point in time under the new guidance. 3 million as of December 27, 2020, was $1. Building a Better Future for African Orphans with Stephen McCullah's Plan. Our earnings are also affected by foreign exchange rate fluctuations related to the Mexican peso net monetary position of our Mexico subsidiaries.
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