v3.26.3
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 334,273 $ 1,794,773
Adjustments for:    
Depreciation and amortization 1,916,968 1,684,857
Expected credit losses 10,634 22,864
Share of profit of equity-accounted investees (3,344) (15,008)
Gain on sales of assets (11,635) (15,272)
Tax expense (51,525) 451,170
Net finance expense 1,318,551 976,098
Share-based compensation 39,061 19,844
Provisions for legal proceedings 95,865 60,435
Impairment of goodwill and property, plant and equipment 22,672 12,767
Net realizable value inventory adjustments 13,427 20,172
DOJ (Department of Justice) and antitrust agreements 157,825 143,720
Fair value adjustment of biological assets 131,741 (67,062)
Provision for avian influenza 0 13,122
Cash Flows From (Used In) Operations, Excluding Changes In Operating Assets And Liabilities Classified As Operating Activities 3,974,513 5,102,480
Changes in assets and liabilities:    
Trade accounts receivable 978,343 (18,754)
Inventories (1,250,404) (1,203,272)
Recoverable taxes (102,746) 43,236
Other current and non-current assets (41,171) (556,893)
Biological assets (594,541) (572,720)
Trade accounts payable and supply chain finance (336,976) (90,204)
Taxes paid in installments (28,897) (54,529)
Other current and non-current liabilities (327,662) 151,580
DOJ and Antitrust agreements payment/reimbursement (101,017) (339,063)
Income taxes paid (552,103) (652,196)
Changes in operating assets and liabilities (2,357,174) (3,292,815)
Cash from operating activities 1,617,339 1,809,665
Interest paid (1,170,432) (948,160)
Interest received 123,197 134,857
Net cash flows provided by operating activities 570,104 996,362
Cash flow from investing activities    
Purchases of property, plant and equipment (1,739,202) (1,261,012)
Dividends received 24,613 6,197
Purchase and disposals of intangible assets (8,598) (4,717)
Additions (disposals) to investments in joint ventures (3,307) (186,489)
Related party transactions (21,468) (22,914)
Proceeds from sale of property, plant and equipment 56,521 56,922
Acquisition of investments funds 0 (45,831)
Cash used in investing activities (1,691,441) (1,457,844)
Cash flow from financing activities    
Proceeds from loans and financings 5,300,107 9,455,280
Payments of loans and financings (3,217,655) (8,465,136)
Derivatives instruments received (settled) (44,119) (91,629)
Margin cash (8,336) 8,473
Dividends paid (1,070,880) (1,573,855)
Dividends paid to non-controlling interest (5,979) (355,682)
Share buyback 1,234 (362,463)
Payments of leasing contracts (336,420) (325,026)
Others (2,768) (22,603)
Cash provided by (used in) financing activities 565,081 (1,733,935)
Effect of exchange rate changes on cash and cash equivalents 139,882 139,960
Net change in cash and cash equivalents (416,374) (2,055,457)
Cash and cash equivalents beginning of period 4,565,136 5,613,672
Cash and cash equivalents at the end of period 4,148,762 3,558,215
Non-cash Transactions    
Non-cash additions to right of use assets and lease liabilities 383,286 306,439
Capitalized interests 36,355 25,509
Closing of the bargaining gain calculation (51,504) 0
Acquisition of non-controlling interests in the subsidiary PPC    
Cash flow from financing activities    
Acquisition of non-controlling interests 0 (1,294)
Acquisition of non-controlling interests in Andrew Meats    
Cash flow from financing activities    
Acquisition of non-controlling interests $ (50,103) $ 0