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Financial Instruments and Risk Management (Tables)
 12 Months Ended
Sep. 28, 2019
Fair Value Disclosures [Abstract]  
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 consolidated balance sheets as of September 28, 2019 and September 29, 2018, respectively:

 

 

 

As of September 28, 2019

 

 

As of September 29, 2018

 

Asset Derivatives

 

Location

 

Fair Value

 

 

Location

 

Fair Value

 

Derivatives not designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

Other current assets

 

$

4,082

 

 

Other current assets

 

$

14,875

 

 

 

Other assets

 

 

167

 

 

Other assets

 

 

13

 

 

 

 

 

$

4,249

 

 

 

 

$

14,888

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability Derivatives

 

Location

 

Fair Value

 

 

Location

 

Fair Value

 

Derivatives not designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

Other current liabilities

 

$

3,360

 

 

Other current liabilities

 

$

6,122

 

 

 

Other liabilities

 

 

—

 

 

Other liabilities

 

 

167

 

 

 

 

 

$

3,360

 

 

 

 

$

6,289

 

 
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)

 

 

 

Fiscal 2019

 

 

Fiscal 2018

 

 

 

Assets

 

 

Liabilities

 

 

Assets

 

 

Liabilities

 

Beginning balance of over-the-counter options

 

$

1,546

 

 

$

361

 

 

$

4,108

 

 

$

737

 

Beginning balance realized during the period

 

 

(1,533

)

 

 

(361

)

 

 

(3,636

)

 

 

(737

)

Contracts purchased during the period

 

 

83

 

 

 

—

 

 

 

1,546

 

 

 

361

 

Change in the fair value of outstanding contracts

 

 

323

 

 

 

—

 

 

 

(472

)

 

 

—

 

Ending balance of over-the-counter options

 

$

419

 

 

$

—

 

 

$

1,546

 

 

$

361

 

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

The effect of the Partnership’s derivative instruments on the consolidated statements of operations for fiscal 2019, 2018 and 2017 are as follows:

 

 

 

 

 

 

 

(Losses) Reclassified from

 

 

 

Amount of (Losses)

 

 

Accumulated OCI into Income

 

 

 

Recognized  in OCI

 

 

(Effective Portion)

 

Derivatives in Cash Flow Hedging Relationships

 

(Effective Portion)

 

 

Location

 

Amount

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

Fiscal 2019

 

$

—

 

 

Interest expense

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2018

 

$

—

 

 

Interest expense

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2017

 

$

(10

)

 

Interest expense

 

$

(215

)

 

 

 

Unrealized (Losses) Gains Recognized in Income

 

Derivatives Not Designated as Hedging Instruments

 

Location

 

Amount

 

Commodity-related derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2019

 

Cost of products sold

 

$

(8,008

)

 

 

 

 

 

 

 

Fiscal 2018

 

Cost of products sold

 

$

310

 

 

 

 

 

 

 

 

Fiscal 2017

 

Cost of products sold

 

$

6,277

 

 
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 consolidated balance sheets subject to enforceable master netting arrangements or similar agreements:

 

 

 

As of September 28, 2019

 

 

 

 

 

 

 

 

 

 

 

Net amounts

 

 

 

 

 

 

 

 

 

 

 

presented in the

 

 

 

Gross amounts

 

 

Effects of netting

 

 

balance sheet

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

$

10,464

 

 

$

(6,215

)

 

$

4,249

 

 

 

$

10,464

 

 

$

(6,215

)

 

$

4,249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

$

9,575

 

 

$

(6,215

)

 

$

3,360

 

 

 

$

9,575

 

 

$

(6,215

)

 

$

3,360

 

 

 

 

As of September 29, 2018

 

 

 

 

 

 

 

 

 

 

 

Net amounts

 

 

 

 

 

 

 

 

 

 

 

presented in the

 

 

 

Gross amounts

 

 

Effects of netting

 

 

balance sheet

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

$

23,181

 

 

$

(8,293

)

 

$

14,888

 

 

 

$

23,181

 

 

$

(8,293

)

 

$

14,888

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

Commodity-related derivatives

 

$

14,582

 

 

$

(8,293

)

 

$

6,289

 

 

 

$

14,582

 

 

$

(8,293

)

 

$

6,289