Financial Instruments and Risk Management (Tables)

9 Months Ended

Jun. 23, 2012

Financial Instruments and Risk Management [Abstract]

Fair value of the Partnership's derivative instruments and their location in the condensed consolidated balance

The following summarizes the gross fair value of the Partnership's derivative instruments and their location in the condensed consolidated balance sheet as of June 23, 2012 and September 24, 2011, respectively:


	As of June 23, 2012			As of September 24, 2011
Asset Derivatives	Location	Fair Value		Location	Fair Value
Derivatives not designated as hedging instruments:
Commodity options	Other current assets	$	7,263	Other current assets	$	3,710
	Other assets		-	Other assets		612

Commodity futures	Other current assets		1,952	Other current assets		1,132

		$	9,215		$	5,454


Liability Derivatives	Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps	Other current liabilities	$	2,646	Other current liabilities	$	2,662
	Other liabilities		2,176	Other liabilities		1,934

		$	4,822		$	4,596

Derivatives not designated as hedging instruments:
Commodity options	Other current liabilities	$	1,338	Other current liabilities	$	2,407
	Other liabilities		-	Other liabilities		69

		$	1,338		$	2,476

Reconciliation of the beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs

The following summarizes the reconciliation of the beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs:


	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	Nine Months Ended June 23, 2012						Nine Months Ended June 25, 2011
	Assets			Liabilities			Assets			Liabilities
Opening balance of over-the-counter options	$	1,780		$	118		$	1,509		$	29
Beginning balance realized during the period		(758	)		(15	)		(1,509	)		(29	)
Contracts purchased during the period		3,245			259			2,778			226
Change in the fair value of beginning balance		2,678			669			-			-

Closing balance of over-the-counter options	$	6,945		$	1,031		$	2,778		$	226

Effect of the Partnership's derivative instruments on the condensed consolidated statements of operations

The effect of the Partnership's derivative instruments on the condensed consolidated statements of operations for the three and nine months ended June 23, 2012 and June 25, 2011 are as follows:


	Three months ended June 23, 2012								Three months ended June 25, 2011
Derivatives in Cash Flow Hedging	Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)					Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)
Relationships	(Effective Portion)			Location		Amount			(Effective Portion)			Location		Amount
Interest rate swap	$	(1,856	)		Interest expense	$	(670	)	$	(1,077	)		Interest expense	$	(719	)

	$	(1,856	)			$	(670	)	$	(1,077	)			$	(719	)


Derivatives Not Designated as Hedging Instruments	Location of Gains (Losses) Recognized in Income	Amount of Unrealized Gains (Losses) Recognized in Income		Location of Gains (Losses) Recognized in Income	Amount of Unrealized Gains (Losses) Recognized in Income
Commodity options	Cost of products sold	$	6,465	Cost of products sold	$	(516	)
Commodity futures	Cost of products sold		1,753	Cost of products sold		203

		$	8,218		$	(313	)


	Nine months ended June 23, 2012							Nine months ended June 25, 2011
Derivatives in Cash Flow Hedging	Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)				Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)
Relationships	(Effective Portion)			Location	Amount			(Effective Portion)			Location	Amount
Interest rate swap	$	(2,234	)	Interest expense	$	(2,008	)	$	(851	)	Interest expense	$	(2,147	)

	$	(2,234	)		$	(2,008	)	$	(851	)		$	(2,147	)


Derivatives Not Designated as Hedging Instruments	Location of Gains (Losses) Recognized in Income	Amount of Unrealized Gains (Losses) Recognized in Income		Location of Gains (Losses) Recognized in Income	Amount of Unrealized Gains (Losses) Recognized in Income
Commodity options	Cost of products sold	$	6,350	Cost of products sold	$	283
Commodity futures	Cost of products sold		820	Cost of products sold		1,954

		$	7,170		$	2,237

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details