Guarantees (Tables)

6 Months Ended

Jun. 24, 2017

Guarantees [Abstract]

Schedule of Financial Guarantees Outstanding

The Company provides financial guarantees as required by creditors, insurance programs and various governmental agencies. As of June 24, 2017, the following financial guarantees were outstanding:

Financial Commitments	Maximum Potential Payment		Carrying Amount of Liability
Standby letters of credit (a)	$	7,025	$	2,666
Surety bonds (b)	56,201		55,516
LTF project (c)	31,505		—
Total financial commitments	$	94,731	$	58,182

(a) The letters of credit primarily provide credit support for natural gas purchases and insurance programs. The Company was released from its requirement to provide letters of credit for its financial assurance relating to its environmental remediation and post closure care as of June 24, 2017.

(b) Rayonier Advanced Materials purchases surety bonds primarily to comply with financial assurance requirements relating to environmental remediation and post closure care and to provide collateral for the Company’s workers’ compensation program. These surety bonds expire at various dates during 2017, 2018 and 2019. They are expected to be renewed annually as required.

(c) LignoTech Florida entered into a construction contract to build its lignin manufacturing facility. The Company is a guarantor under the contract and is jointly and severally liable for payment of costs incurred to construct the facility. In the event of default, the Company expects it would only be liable for its proportional share as a result of an agreement with its venture partner.