Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 27, 2014 | Oct. 25, 2014 | Oct. 25, 2014 | |
Class A Units [Member] | Class B Units [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'U. S. Premium Beef, LLC | ' | ' |
Entity Central Index Key | '0001289237 | ' | ' |
Current Fiscal Year End Date | '--12-27 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 27-Sep-14 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 735,385 | 755,385 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $92,991 | $59,812 |
Due from affiliates | 108 | 1,488 |
Other receivables | ' | 3 |
Restricted cash | ' | 36,943 |
Other current assets | 17 | 385 |
Total current assets | 93,116 | 98,631 |
Property, plant, and equipment, at cost | 219 | 250 |
Less accumulated depreciation | 214 | 244 |
Net property, plant, and equipment | 5 | 6 |
Investment in National Beef Packing Company, LLC | 154,640 | 155,928 |
Other assets | 255 | 323 |
Total assets | 248,016 | 254,888 |
Liabilities and Capital Shares and Equities | ' | ' |
Accounts payable - trade | 8 | 25 |
Due to affiliates | 26 | 8 |
Accrued compensation and benefits | 1,113 | 3,898 |
Other accrued expenses and liabilities | 45 | 105 |
Patronage notices payable | 90 | 90 |
Distributions payable | 2 | 223 |
Total current liabilities | 1,284 | 4,349 |
Long-term liabilities: | ' | ' |
Other liabilities | 6,060 | 6,327 |
Total liabilities | 7,344 | 10,676 |
Capital shares and equities: | ' | ' |
Members' capital, 735,385 Class A units and 755,385 Class B units authorized, issued and outstanding | 240,672 | 244,212 |
Total liabilities and capital shares and equities | $248,016 | $254,888 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) | Sep. 27, 2014 | Dec. 28, 2013 |
Class A units [Member] | ' | ' |
Members' capital, units authorized | 735,385 | 735,385 |
Members' capital, units issued | 735,385 | 735,385 |
Members' capital, units outstanding | 735,385 | 735,385 |
Class B units [Member] | ' | ' |
Members' capital, units authorized | 755,385 | 755,385 |
Members' capital, units issued | 755,385 | 755,385 |
Members' capital, units outstanding | 755,385 | 755,385 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Net sales | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' |
Selling, general, and administrative expenses | 540 | 719 | 2,354 | 3,077 |
Depreciation and amortization | ' | 1 | 1 | 5 |
Total costs and expenses | 540 | 720 | 2,355 | 3,082 |
Operating loss | -540 | -720 | -2,355 | -3,082 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 12 | 10 | 35 | 30 |
Interest expense | -3 | -19 | -27 | -57 |
Equity interest in net income of National Beef Packing Company, LLC | 4,020 | 7,255 | 692 | 8,230 |
Other, net | 28 | 6 | 201 | 282 |
Income (loss) before taxes | 3,517 | 6,532 | -1,454 | 5,403 |
Income tax expense | ' | ' | ' | ' |
Net income (loss) | $3,517 | $6,532 | ($1,454) | $5,403 |
Class A Units [Member] | ' | ' | ' | ' |
Income (loss) per unit: | ' | ' | ' | ' |
Basic | $0.48 | $0.89 | ($0.20) | $0.73 |
Diluted | $0.48 | $0.88 | ($0.20) | $0.73 |
Outstanding weighted-average units: | ' | ' | ' | ' |
Basic | 735,385 | 735,385 | 735,385 | 735,385 |
Diluted | 735,385 | 744,452 | 735,385 | 744,192 |
Class B Units [Member] | ' | ' | ' | ' |
Income (loss) per unit: | ' | ' | ' | ' |
Basic | $4.19 | $7.78 | ($1.73) | $6.44 |
Diluted | $4.19 | $7.78 | ($1.73) | $6.44 |
Outstanding weighted-average units: | ' | ' | ' | ' |
Basic | 755,385 | 755,385 | 755,385 | 755,385 |
Diluted | 755,385 | 755,385 | 755,385 | 755,385 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 |
Cash flows from operating activities: | ' | ' |
Net (loss) income | ($1,454) | $5,403 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1 | 5 |
Equity in net income of National Beef Packing Company, LLC | -692 | -8,230 |
Distribution from National Beef Packing Company, LLC | ' | 4,517 |
Changes in assets and liabilities: | ' | ' |
Due from affiliates | 562 | 58 |
Other receivables | 3 | 75 |
Other assets | 437 | 1,324 |
Accounts payable | -17 | -11 |
Due to affiliates | 18 | -435 |
Accrued compensation and benefits | -3,052 | -3,114 |
Other accrued expenses and liabilities | -59 | -137 |
Net cash used in operating activities | -4,253 | -545 |
Cash flows from investing activities: | ' | ' |
Additional minority interest acquired in National Beef Packing Company, LLC | ' | -1,507 |
Distribution from National Beef Packing Company, LLC | 1,979 | ' |
Release of escrowed funds related to the 2011 transaction with Leucadia | 36,943 | ' |
Net cash provided by (used in) investing activities | 38,922 | -1,507 |
Cash flows from financing activities: | ' | ' |
Change in overdraft balances | -221 | 26 |
Prior year excess distribution | 818 | 23 |
Member distributions | -2,087 | ' |
Net cash (used in) provided by financing activities | -1,490 | 49 |
Net increase (decrease) in cash | 33,179 | -2,003 |
Cash and cash equivalents at beginning of the period | 59,812 | 62,683 |
Cash and cash equivalents at end of the period | $92,991 | $60,680 |
Interim_Financial_Statements
Interim Financial Statements | 9 Months Ended |
Sep. 27, 2014 | |
Interim Financial Statements [Abstract] | ' |
Interim Financial Statements | ' |
(1) Interim Financial Statements | |
Basis of Presentation | |
The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP), for interim financial information; therefore, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included using management's best estimates and judgments where appropriate. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments. For further information, refer to the audited Consolidated Financial Statements and Notes to Consolidated Financial Statements, which are included in the Company's Annual Report on Form 10-K on file with the Securities and Exchange Commission (SEC), for the fiscal year ended December 28, 2013. The results of operations for the interim periods presented are not necessarily indicative of the results for a full fiscal year. | |
As a result of the transaction with Leucadia National Corporation (Leucadia) on December 30, 2011 in which Leucadia purchased 56.2415% of the membership interests in National Beef Packing Company, LLC (NBP) from the Company, the Company's financial statements are no longer consolidated with NBP. USPB's remaining 15.0729% investment in NBP is accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control. |
Members_Capital
Members' Capital | 9 Months Ended | ||||
Sep. 27, 2014 | |||||
Members' Capital [Abstract] | ' | ||||
Members' Capital | ' | ||||
(2) Members' Capital | |||||
The following table represents a reconciliation of Members' Capital for the thirty-nine week period ended September 27, 2014 (thousands of dollars). | |||||
Balance at December 28, 2013 | $ | 244,212 | |||
Allocation of net loss for the thirty-nine week period ended September 27, 2014 | (1,454 | ) | |||
Member distributions | (2,087 | ) | |||
Balance at September 27, 2014 | $ | 240,672 |
Income_Loss_Attributable_to_US
Income (Loss) Attributable to USPB Per Unit | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Income (Loss) Attributable to USPB Per Unit [Abstract] | ' | ||||||||||||||||
Income (Loss) Attributable to USPB Per Unit | ' | ||||||||||||||||
(3) Income (Loss) Attributable to USPB Per Unit | |||||||||||||||||
Under the LLC structure, earnings of the Company are to be distributed to unitholders based on their proportionate share of underlying equity, and, as a result, income attributable to USPB per unit (EPU) has been presented in the accompanying Statements of Operations and in the table that follows. | |||||||||||||||||
Basic EPU excludes dilution and is computed by first allocating a portion of net income (loss) attributable to USPB to Class A units and the remainder is allocated to Class B units. For the thirteen week periods ended September 27, 2014 and September 28, 2013, net income was allocated 10% to the Class A's and 90% to the Class B's. For the thirty- nine week periods ended September 27, 2014 and September 28, 2013, net loss and net income, respectively, was allocated 10% to the Class A's and 90% to the Class B's. The net income (loss) allocated to the Class A and Class B units is then divided by the weighted-average number of Class A and Class B units outstanding for the period to determine the basic EPU for each respective class of unit. | |||||||||||||||||
Diluted EPU reflects the potential dilution that could occur if potential Class A unit purchase rights were exercised or contractual appreciation rights were converted into units. Upon termination of the former CEO's employment agreement and until eighteen months after the termination of the employment agreement, at the election of Mr. Steven Hunt, or upon mutual agreement of the Board of the Company and Mr. Hunt, Mr. Hunt was eligible to purchase up to 20,000 Class A units, or upon agreement of Mr. Hunt and the Board of the Company, Mr. Hunt could have converted the contractual unit appreciation rights to up to 20,000 Class A units. The diluted EPU reflects the circumstances of termination of Mr. Hunt's employment agreement, and the election of Mr. Hunt or agreement by the Board of the Company and Mr. Hunt for him to purchase or convert contractual rights to the maximum 20,000 Class A units at $55 per unit for the periods as provided in his employment agreement. | |||||||||||||||||
On April 2, 2014, Mr. Hunt gave notice of his election to receive the appreciation right payment for the 20,000 Class A phantoms provided for in his employment agreement. On April 10, 2014, Mr. Hunt was paid approximately $2.2 million for the Class A phantom appreciation right payment. In the table below, as a result of that payment, the diluted income per Class A unit calculation for the thirteen week period ended September 27, 2014 does not reflect any dilution. The diluted income per Class A unit calculation for the thirteen and thirty-nine week periods ended September 28, 2013 includes the effect of the 20,000 Class A unit purchase rights noted above. The diluted loss per Class A unit calculations for the thirty-nine week period ended September 27, 2014 excludes the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive to the loss per Class A unit calculation. | |||||||||||||||||
Income (Loss) Per Unit Calculation | |||||||||||||||||
13 weeks ended | 13 weeks ended | 39 weeks ended | 39 weeks ended | ||||||||||||||
(thousands of dollars, except unit and per unit data) | September 27, 2014 | September 28, 2013 | September 27, 2014 | September 28, 2013 | |||||||||||||
Basic income (loss) per unit | |||||||||||||||||
Income (loss) attributable to USPB available to | |||||||||||||||||
unitholders (numerator) | |||||||||||||||||
Class A | $ | 352 | $ | 653 | $ | (145 | ) | $ | 540 | ||||||||
Class B | $ | 3,165 | $ | 5,879 | $ | (1,309 | ) | $ | 4,863 | ||||||||
Weighted average outstanding units (denominator) | |||||||||||||||||
Class A | 735,385 | 735,385 | 735,385 | 735,385 | |||||||||||||
Class B | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Per unit amount | |||||||||||||||||
Class A | $ | 0.48 | $ | 0.89 | $ | (0.20 | ) | $ | 0.73 | ||||||||
Class B | $ | 4.19 | $ | 7.78 | $ | (1.73 | ) | $ | 6.44 | ||||||||
Diluted income (loss) per unit: | |||||||||||||||||
Income (loss) attributable to USPB available to | |||||||||||||||||
unitholders (numerator) | |||||||||||||||||
Class A | $ | 352 | $ | 653 | $ | (145 | ) | $ | 540 | ||||||||
Class B | $ | 3,165 | $ | 5,879 | $ | (1,309 | ) | $ | 4,863 | ||||||||
Weighted average outstanding Class A units | 735,385 | 735,385 | 735,385 | 735,385 | |||||||||||||
Effect of dilutive securities - Class A unit options | - | 9,067 | - | 8,807 | |||||||||||||
Units (denominator) | 735,385 | 744,452 | 735,385 | 744,192 | |||||||||||||
Weighted average outstanding Class B units | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Effect of dilutive securities - Class B unit options | - | - | - | - | |||||||||||||
Units (denominator) | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Per unit amount | |||||||||||||||||
Class A | $ | 0.48 | $ | 0.88 | $ | (0.20 | ) | $ | 0.73 | ||||||||
Class B | $ | 4.19 | $ | 7.78 | $ | (1.73 | ) | $ | 6.44 | ||||||||
Investment_in_National_Beef_Pa
Investment in National Beef Packing Company, LLC | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Investment in National Beef Packing Company, LLC [Abstract] | ' | ||||||||||||||||
Investment in National Beef Packing Company, LLC | ' | ||||||||||||||||
(4) Investment in National Beef Packing Company, LLC | |||||||||||||||||
As of December 31, 2011, USPB's investment in NBP is accounted for using the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational control. Below is a summary of the results of operations for NBP for the thirteen and thirty-nine week periods ended September 27, 2014 and September 28, 2013 (thousands of dollars): | |||||||||||||||||
13 weeks ended | 13 weeks ended | 39 weeks ended | 39 weeks ended | ||||||||||||||
September 27, 2014 | September 28, 2013 | September 27, 2014 | September 28, 2013 | ||||||||||||||
Net sales | $ | 1,983,058 | $ | 1,920,747 | $ | 5,872,424 | $ | 5,629,564 | |||||||||
Costs and expenses: | |||||||||||||||||
Cost of sales | 1,917,114 | 1,832,908 | 5,750,762 | 5,455,755 | |||||||||||||
Selling, general, and administrative expenses | 14,482 | 14,489 | 43,392 | 42,386 | |||||||||||||
Depreciation and amortization | 21,479 | 22,250 | 63,434 | 65,838 | |||||||||||||
Total costs and expenses | 1,953,075 | 1,869,647 | 5,857,588 | 5,563,979 | |||||||||||||
Operating income (loss) | 29,983 | 51,100 | 14,836 | 65,585 | |||||||||||||
Other income (expense): | |||||||||||||||||
Interest income | 2 | 2 | 6 | 9 | |||||||||||||
Interest expense | (3,910 | ) | (2,944 | ) | (11,130 | ) | (9,428 | ) | |||||||||
Other, net | 232 | 153 | 1,101 | (1,082 | ) | ||||||||||||
Income (loss) before taxes | 26,307 | 48,311 | 4,813 | 55,084 | |||||||||||||
Income tax expense | 362 | (177 | ) | (225 | ) | (737 | ) | ||||||||||
Net income (loss) | 26,669 | 48,134 | 4,588 | 54,347 | |||||||||||||
Less: net loss attributable to Kansas City Steak | |||||||||||||||||
Company, LLC | - | - | - | 255 | |||||||||||||
Net income (loss) attributable to NBP | $ | 26,669 | $ | 48,134 | $ | 4,588 | $ | 54,602 | |||||||||
NBP's net income (loss) attributable to USPB | $ | 4,020 | $ | 7,255 | $ | 692 | $ | 8,230 |
Restricted_Cash
Restricted Cash | 9 Months Ended |
Sep. 27, 2014 | |
Restricted Cash [Abstract] | ' |
Restricted Cash | ' |
(5) Restricted Cash | |
When the transaction with Leucadia closed on December 30, 2011, approximately $36.9 million of the Company's proceeds were deposited in an escrow account to satisfy potential indemnification claims from Leucadia. No indemnification claims were received and, as a result, USPB received 40%, or approximately $14.8 million, in January 2013, and the remaining 60% in January 2014. As of January 2014, the $36.9 million is included in Cash and cash equivalents on the balance sheet. |
Members_Capital_Tables
Members' Capital (Tables) | 9 Months Ended | ||||
Sep. 27, 2014 | |||||
Members' Capital [Abstract] | ' | ||||
Reconciliation of Members' Capital | ' | ||||
Balance at December 28, 2013 | $ | 244,212 | |||
Allocation of net loss for the thirty-nine week period ended September 27, 2014 | (1,454 | ) | |||
Member distributions | (2,087 | ) | |||
Balance at September 27, 2014 | $ | 240,672 |
Income_Loss_Attributable_to_US1
Income (Loss) Attributable to USPB Per Unit (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Income (Loss) Attributable to USPB Per Unit [Abstract] | ' | ||||||||||||||||
Schedule of Income (Loss) Per Unit Calculation | ' | ||||||||||||||||
Income (Loss) Per Unit Calculation | |||||||||||||||||
13 weeks ended | 13 weeks ended | 39 weeks ended | 39 weeks ended | ||||||||||||||
(thousands of dollars, except unit and per unit data) | September 27, 2014 | September 28, 2013 | September 27, 2014 | September 28, 2013 | |||||||||||||
Basic income (loss) per unit | |||||||||||||||||
Income (loss) attributable to USPB available to | |||||||||||||||||
unitholders (numerator) | |||||||||||||||||
Class A | $ | 352 | $ | 653 | $ | (145 | ) | $ | 540 | ||||||||
Class B | $ | 3,165 | $ | 5,879 | $ | (1,309 | ) | $ | 4,863 | ||||||||
Weighted average outstanding units (denominator) | |||||||||||||||||
Class A | 735,385 | 735,385 | 735,385 | 735,385 | |||||||||||||
Class B | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Per unit amount | |||||||||||||||||
Class A | $ | 0.48 | $ | 0.89 | $ | (0.20 | ) | $ | 0.73 | ||||||||
Class B | $ | 4.19 | $ | 7.78 | $ | (1.73 | ) | $ | 6.44 | ||||||||
Diluted income (loss) per unit: | |||||||||||||||||
Income (loss) attributable to USPB available to | |||||||||||||||||
unitholders (numerator) | |||||||||||||||||
Class A | $ | 352 | $ | 653 | $ | (145 | ) | $ | 540 | ||||||||
Class B | $ | 3,165 | $ | 5,879 | $ | (1,309 | ) | $ | 4,863 | ||||||||
Weighted average outstanding Class A units | 735,385 | 735,385 | 735,385 | 735,385 | |||||||||||||
Effect of dilutive securities - Class A unit options | - | 9,067 | - | 8,807 | |||||||||||||
Units (denominator) | 735,385 | 744,452 | 735,385 | 744,192 | |||||||||||||
Weighted average outstanding Class B units | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Effect of dilutive securities - Class B unit options | - | - | - | - | |||||||||||||
Units (denominator) | 755,385 | 755,385 | 755,385 | 755,385 | |||||||||||||
Per unit amount | |||||||||||||||||
Class A | $ | 0.48 | $ | 0.88 | $ | (0.20 | ) | $ | 0.73 | ||||||||
Class B | $ | 4.19 | $ | 7.78 | $ | (1.73 | ) | $ | 6.44 | ||||||||
Investment_in_National_Beef_Pa1
Investment in National Beef Packing Company, LLC (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Investment in National Beef Packing Company, LLC [Abstract] | ' | ||||||||||||||||
Summary of Operations for NBP | ' | ||||||||||||||||
13 weeks ended | 13 weeks ended | 39 weeks ended | 39 weeks ended | ||||||||||||||
September 27, 2014 | September 28, 2013 | September 27, 2014 | September 28, 2013 | ||||||||||||||
Net sales | $ | 1,983,058 | $ | 1,920,747 | $ | 5,872,424 | $ | 5,629,564 | |||||||||
Costs and expenses: | |||||||||||||||||
Cost of sales | 1,917,114 | 1,832,908 | 5,750,762 | 5,455,755 | |||||||||||||
Selling, general, and administrative expenses | 14,482 | 14,489 | 43,392 | 42,386 | |||||||||||||
Depreciation and amortization | 21,479 | 22,250 | 63,434 | 65,838 | |||||||||||||
Total costs and expenses | 1,953,075 | 1,869,647 | 5,857,588 | 5,563,979 | |||||||||||||
Operating income (loss) | 29,983 | 51,100 | 14,836 | 65,585 | |||||||||||||
Other income (expense): | |||||||||||||||||
Interest income | 2 | 2 | 6 | 9 | |||||||||||||
Interest expense | (3,910 | ) | (2,944 | ) | (11,130 | ) | (9,428 | ) | |||||||||
Other, net | 232 | 153 | 1,101 | (1,082 | ) | ||||||||||||
Income (loss) before taxes | 26,307 | 48,311 | 4,813 | 55,084 | |||||||||||||
Income tax expense | 362 | (177 | ) | (225 | ) | (737 | ) | ||||||||||
Net income (loss) | 26,669 | 48,134 | 4,588 | 54,347 | |||||||||||||
Less: net loss attributable to Kansas City Steak | |||||||||||||||||
Company, LLC | - | - | - | 255 | |||||||||||||
Net income (loss) attributable to NBP | $ | 26,669 | $ | 48,134 | $ | 4,588 | $ | 54,602 | |||||||||
NBP's net income (loss) attributable to USPB | $ | 4,020 | $ | 7,255 | $ | 692 | $ | 8,230 |
Members_Capital_Details
Members' Capital (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 27, 2014 |
Members' Capital [Abstract] | ' |
Beginning balance | $244,212 |
Allocation of net income (loss) | -1,454 |
Member distributions | -2,087 |
Ending balance | $240,672 |
Income_Loss_Attributable_to_US2
Income (Loss) Attributable to USPB Per Unit (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Jun. 29, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Phantom Share Units (PSUs) [Member] | Class A Units [Member] | Class A Units [Member] | Class A Units [Member] | Class A Units [Member] | Class B Units [Member] | Class B Units [Member] | Class B Units [Member] | Class B Units [Member] | |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage | ' | 10.00% | 10.00% | 10.00% | 10.00% | 90.00% | 90.00% | 90.00% | 90.00% |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price per unit | $55 | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for phantom appreciation rights | $2.20 | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Loss_Attributable_to_US3
Income (Loss) Attributable to USPB Per Unit (Schedule of Earnings Per Unit) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Basic income (loss) per unit | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | ' | ' | ($1,454) | ' |
Diluted income (loss) per unit: | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | ' | ' | -1,454 | ' |
Class A [Member] | ' | ' | ' | ' |
Basic income (loss) per unit | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | 352 | 653 | -145 | 540 |
Weighted average outstanding units (denominator) | 735,385 | 735,385 | 735,385 | 735,385 |
Per unit amount | $0.48 | $0.89 | ($0.20) | $0.73 |
Diluted income (loss) per unit: | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | 352 | 653 | -145 | 540 |
Weighted average outstanding | ' | ' | ' | ' |
Basic | 735,385 | 735,385 | 735,385 | 735,385 |
Effect of dilutive securities | ' | 9,067 | ' | 8,807 |
Weighted average outstanding units (denominator) | 735,385 | 744,452 | 735,385 | 744,192 |
Per unit amount | $0.48 | $0.88 | ($0.20) | $0.73 |
Class B [Member] | ' | ' | ' | ' |
Basic income (loss) per unit | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | 3,165 | 5,879 | -1,309 | 4,863 |
Weighted average outstanding units (denominator) | 755,385 | 755,385 | 755,385 | 755,385 |
Per unit amount | $4.19 | $7.78 | ($1.73) | $6.44 |
Diluted income (loss) per unit: | ' | ' | ' | ' |
Income (loss) attributable to USPB available to unitholders (numerator) | $3,165 | $5,879 | ($1,309) | $4,863 |
Weighted average outstanding | ' | ' | ' | ' |
Basic | 755,385 | 755,385 | 755,385 | 755,385 |
Effect of dilutive securities | ' | ' | ' | ' |
Weighted average outstanding units (denominator) | 755,385 | 755,385 | 755,385 | 755,385 |
Per unit amount | $4.19 | $7.78 | ($1.73) | $6.44 |
Investment_in_National_Beef_Pa2
Investment in National Beef Packing Company, LLC (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Schedule of Investments [Line Items] | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' |
Selling, general, and administrative expenses | 540 | 719 | 2,354 | 3,077 |
Depreciation and amortization | ' | 1 | 1 | 5 |
Total costs and expenses | 540 | 720 | 2,355 | 3,082 |
Operating income | -540 | -720 | -2,355 | -3,082 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 12 | 10 | 35 | 30 |
Interest expense | -3 | -19 | -27 | -57 |
Other, net | 28 | 6 | 201 | 282 |
Income before taxes | 3,517 | 6,532 | -1,454 | 5,403 |
Income tax expense | ' | ' | ' | ' |
Net income (loss) | 3,517 | 6,532 | -1,454 | 5,403 |
NBP's net income attributable to USPB | 4,020 | 7,255 | 692 | 8,230 |
National Beef Packing Company, LLC [Member] | ' | ' | ' | ' |
Schedule of Investments [Line Items] | ' | ' | ' | ' |
Net sales | 1,983,058 | 1,920,747 | 5,872,424 | 5,629,564 |
Costs and expenses: | ' | ' | ' | ' |
Cost of sales | 1,917,114 | 1,832,908 | 5,750,762 | 5,455,755 |
Selling, general, and administrative expenses | 14,482 | 14,489 | 43,392 | 42,386 |
Depreciation and amortization | 21,479 | 22,250 | 63,434 | 65,838 |
Total costs and expenses | 1,953,075 | 1,869,647 | 5,857,588 | 5,563,979 |
Operating income | 29,983 | 51,100 | 14,836 | 65,585 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 2 | 2 | 6 | 9 |
Interest expense | -3,910 | -2,944 | -11,130 | -9,428 |
Other, net | 232 | 153 | 1,101 | -1,082 |
Income before taxes | 26,307 | 48,311 | 4,813 | 55,084 |
Income tax expense | 362 | -177 | -225 | -737 |
Net income | 26,669 | 48,134 | 4,588 | 54,347 |
Less: net loss attributable to Kansas City Steak Company, LLC | ' | ' | ' | 255 |
Net income (loss) | $26,669 | $48,134 | $4,588 | $54,602 |
Restricted_Cash_Details
Restricted Cash (Details) (USD $) | 9 Months Ended | ||
Sep. 27, 2014 | Sep. 28, 2013 | Dec. 30, 2011 | |
Restricted Cash [Abstract] | ' | ' | ' |
Amount of proceeds deposited in escrow account related to transaction with Leucadia | ' | ' | $36,900,000 |
Release from escrow account | ' | 14,800,000 | ' |
Proceeds received from escrow account | $36,943,000 | ' | ' |