Financial Instruments and Risk Management (Tables)

9 Months Ended

Jun. 24, 2017

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

The following summarizes the fair value of the Partnership’s derivative instruments and their location in the condensed consolidated balance sheets as of June 24, 2017 and September 24, 2016, respectively:

	As of June 24, 2017			As of September 24, 2016
Asset Derivatives	Location	Fair Value		Location	Fair Value
Derivatives not designated as hedging instruments:
Commodity-related derivatives	Other current assets	$	866	Other current assets	$	3,306
	Other assets		1,079	Other assets		1,546
		$	1,945		$	4,852

Liability Derivatives	Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate swap	Other current liabilities	$	—	Other current liabilities	$	205
Derivatives not designated as hedging instruments:
Commodity-related derivatives	Other current liabilities	$	2,806	Other current liabilities	$	1,002
	Other liabilities		—	Other liabilities		1,353
		$	2,806		$	2,355

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					Nine Months Ended
	June 24, 2017					June 25, 2016
	Assets			Liabilities		Assets			Liabilities
Beginning balance of over-the-counter options	$	809		$	—	$	2,781		$	347
Beginning balance realized during the period		(589	)		—		(2,546	)		(275	)
Contracts purchased during the period		—			—		762			—
Change in the fair value of outstanding contracts		(115	)		—		(234	)		(72	)
Ending balance of over-the-counter options	$	105		$	—	$	763		$	—

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 and the condensed consolidated statements of comprehensive income, as applicable, for the three and nine months ended June 24, 2017 and June 25, 2016 are as follows:

Three Months Ended June 24, 2017

Three Months Ended June 25, 2016

Derivatives in Cash Flow

Gains (Losses)

Recognized in OCI

Gains (Losses) Reclassified

from Accumulated OCI into

Income

Gains (Losses)

Recognized in OCI

Gains (Losses) Reclassified

from Accumulated OCI into

Income

Hedging Relationships

(Effective Portion)

Location

Amount

(Effective Portion)

Location

Amount

Interest rate swap

—

Interest expense

—

(107

)

Interest expense

(252

)

Derivatives Not Designated

as Hedging Instruments

Unrealized Gains (Losses)

Recognized in Income

Unrealized Gains (Losses)

Recognized in Income

Location

Amount

Location

Amount

Commodity-related

derivatives

Cost of

products sold

(655

)

Cost of

products sold

(56

)

	Nine Months Ended June 24, 2017							Nine Months Ended June 25, 2016
Derivatives in Cash Flow	Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income				Gains (Losses) Recognized in OCI			Gains (Losses) Reclassified from Accumulated OCI into Income
Hedging Relationships	(Effective Portion)			Location	Amount			(Effective Portion)			Location	Amount
Interest rate swap	$	(10	)	Interest expense	$	(215	)	$	(47	)	Interest expense	$	(844	)

Derivatives Not Designated as Hedging Instruments				Unrealized Gains (Losses) Recognized in Income							Unrealized Gains (Losses) Recognized in Income
				Location	Amount						Location	Amount
Commodity-related derivatives				Cost of products sold	$	(2,708	)				Cost of products sold	$	(2,005	)

Fair value of the Partnership's recognized derivative assets and liabilities on a gross basis and amounts offset on the condensed consolidated balance sheets

The following table presents the fair value of the Partnership’s recognized derivative assets and liabilities on a gross basis and amounts offset on the condensed consolidated balance sheets subject to enforceable master netting arrangements or similar agreements:

	As of June 24, 2017							As of September 24, 2016
						Net amounts							Net amounts
						presented in the							presented in the
	Gross amounts		Effects of netting			balance sheet		Gross amounts		Effects of netting			balance sheet
Asset Derivatives
Commodity-related derivatives	$	6,709	$	(4,764	)	$	1,945	$	6,842	$	(1,990	)	$	4,852
Interest rate swap		—		—			—		230		(230	)		—
	$	6,709	$	(4,764	)	$	1,945	$	7,072	$	(2,220	)	$	4,852

Liability Derivatives
Commodity-related derivatives	$	7,570	$	(4,764	)	$	2,806	$	4,345	$	(1,990	)	$	2,355
Interest rate swap		—		—			—		435		(230	)		205
	$	7,570	$	(4,764	)	$	2,806	$	4,780	$	(2,220	)	$	2,560

Fair Value of the Partnership's Senior Notes

Based upon quoted market prices (a Level 1 input), the fair value of the Senior Notes (also defined below in Note 7) of the Partnership are as follows:

	As of
	June 24,		September 24,
	2017		2016
7.375% senior notes due August 1, 2021	$	—	$	360,893
5.5% senior notes due June 1, 2024		522,811		534,188
5.75% senior notes due March 1, 2025		249,375		253,438
5.875% senior notes due March 1, 2027		350,000		—
	$	1,122,186	$	1,148,519