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Certain disclosures are listed below. We believe vertical integration generally provides significant, long-term cost and quality advantages over non-vertically integrated further processors. Gold n plump chicken. We intend to disclose future amendments to, or waivers from, certain provisions of this Code on our website within four business days following the date of such amendment or waiver. A court decision on this motion is pending. The weighted average discount rate for each plan was established by comparing the projection of expected benefit payments to the AA Above Median yield curve.
U. and Europe sales generated in 2016 increased $1. Gold n plump corn prices. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Our Moy Park operations, with plants in the U. K., France and The Netherlands generated approximately 18. In Mexico, we own an office building in Gómez Palacio, Durango and lease an office building in Santiago de Querétaro, Querétaro, both of which house our Mexican administrative functions.
Jerry Lane, a veteran of 34 years in Georgia's poultry industry, has been with Claxton Poultry since 1985, serving as General Manager and Vice President. In addition, certain software used by us is licensed from, and certain services related to our information systems are provided by, third parties who could choose to discontinue their relationship with us. Also, the addition of GNP's Just Bare® product lines join our existing no-antibiotics-ever and organic production capabilities, strengthening our footprint in fast-growing and higher-margin chicken segments. Grain of gold price. Although changes in quoted market prices may be a good indicator of the commodity's base price, the components mentioned above may have a significant impact on the total change in grain costs recognized from period to period. 2 million of unsecured indebtedness and had the ability to borrow approximately $750. B) One-third of noncancelable lease expense is assumed to be representative of the interest factor. That report is included in this Item 9A of this annual report.
Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value. At December 31, 2017, the Company was party to outstanding purchase contracts totaling $346. Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated. The pension plans hold a significant proportion of equities, which are expected to outperform corporate bonds in the long-term while contributing volatility and risk in the short-. 6 million and payment of capitalized loan costs totaling $13. The components of income tax expense (benefit) are set forth below: Current: Federal. We are required to assess the likelihood of any adverse judgments or outcomes, as well. 25%, at Level 1 inputs. 1 million under our credit agreements.
I have no business relationship with any company whose stock is mentioned in this article. As of December 31, 2017 and December 25, 2016, the Company held derivative assets and liabilities that were required to be measured at fair value on a recurring basis. On June 5, 2017, J&F, in its role as the controlling shareholder of the J&F Group, entered into a leniency agreement (the "Leniency Agreement") with the MPF, whereby J&F assumed responsibility for the conduct that was described in the annexes to the Plea Bargain Agreements. Common stockholders. He began his career in the poultry business in 1982 with Valmac Industries, which was later acquired by Tyson Foods. Our operations are also subject to regulation by the EPA, OSHA and other state, federal and local regulatory authorities regarding the treatment and disposal of agricultural and food processing wastes, the use and maintenance of refrigeration systems, including ammonia-based chillers, noise, odor and dust management, the operation of mechanized processing equipment, and other operations. Long-term debt is presented at face value and excludes $44. Whether it's a special occasion or you just want a meal to remember, make it Honeysuckle White. On September 11, 2017, the 10th Federal Court suspended its ratification of the criminal provisions of the Leniency Agreement as a result of the STF's temporary revocation of Joesley Mendonça Batista immunity under his Plea Bargain 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. 5 billion in 2016 from $1.
Cost of sales primarily decreased because of lower sales volume, an $81. Expanding disclosures as required by the new standard. We are one of the largest, and we believe one of the most efficient, producers and sellers of chicken in Mexico. 0 million sub-limit for letters of credit. As of December 31, 2017, the Company believes it has sufficient positive evidence to conclude that realization of its federal and state net deferred tax assets is more likely than not to be realized. Operations at many of our facilities require the treatment and disposal of wastewater, stormwater and agricultural and food processing wastes, the use and maintenance of refrigeration systems, including ammonia-based chillers, noise, odor and dust management, the operation of mechanized processing equipment, and other operations that potentially could affect the environment, health and safety. The Company paid the promissory note payable in full with proceeds from the sale of senior notes (See "Note 11. On May 29, 2014, Moy Park (Bondco) Plc, a subsidiary of Granite Holdings Sàrl, completed the sale of a £ 200.
Royalty rates used in the determination of the fair values of the two trade names ranged from 4. Directors and Executive Officers and Corporate Governance.