Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 29, 2015

Fair Value Disclosures [Abstract]

Debt, Deferred Compensation Plan Assets and Liabilities, Acquisition Related Contingent Consideration and Derivative Financial Instruments

The carrying amounts and fair values of the Company’s debt, deferred compensation plan assets and liabilities, acquisition related contingent consideration and derivative financial instruments were as follows:

	Mar. 29, 2015						Dec. 28, 2014						Mar. 30, 2014
	Carrying			Fair			Carrying			Fair			Carrying			Fair
In Thousands	Amount			Value			Amount			Value			Amount			Value
Public debt securities	$	(373,809	)	$	(406,500	)	$	(373,759	)	$	(404,400	)	$	(373,613	)	$	(411,564	)
Non-public variable rate debt		(153,000	)		(153,000	)		(71,000	)		(71,000	)		(60,000	)		(60,000	)
Deferred compensation plan assets		19,720			19,720			18,580			18,580			17,453			17,453
Deferred compensation plan liabilities		(19,720	)		(19,720	)		(18,580	)		(18,580	)		(17,453	)		(17,453	)
Commodity hedging agreements		643			643			0			0			781			781
Acquisition related contingent consideration		(98,505	)		(98,505	)		(46,850	)		(46,850	)		0			0

Deferred Compensation Plan, Commodity Hedging Agreements and Acquisition Related Contingent Consideration

The following table summarizes, by assets and liabilities, the valuation of the Company’s deferred compensation plan, commodity hedging agreements and acquisition related contingent consideration:

	Mar. 29, 2015						Dec. 28, 2014						Mar. 30, 2014
In Thousands	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Deferred compensation plan assets	$	19,720					$	18,580					$	17,453
Commodity hedging agreements			$	643					$	0					$	781
Liabilities
Deferred compensation plan liabilities		19,720						18,580						17,453
Acquisition related contingent consideration					$	98,505					$	46,850					$	0

Summary of Reconciliation of Acquisition Related Contingent Consideration

The acquisition related contingent consideration is the Company’s only Level 3 asset or liability. A reconciliation of the activity is as follows:

	First Quarter
In Thousands	2015			2014
Opening balance	$	46,850		$	0
Increase due to the Cleveland and Cookeville purchase		14,572			0
Increase due to the Louisville and Evansville purchase		32,711			0
Accrual of Q1 2015 payment		(717	)		0
Fair value adjustment		5,089			0
Ending balance	$	98,505		$	0