Derivative Financial Instruments (Tables)

12 Months Ended

Jan. 01, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Pre-Tax Changes in Fair Value

The following summarizes pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification of such changes in the consolidated statements of operations.

		Fiscal Year
(in thousands)	Classification of Gain (Loss)	2016		2015			2014
Commodity hedges	Cost of sales	$	2,896	$	(2,354	)	$	-
Commodity hedges	Selling, delivery and administrative expenses		1,832		(1,085	)		-
Total gain (loss)		$	4,728	$	(3,439	)	$	-

Summary of Fair Values and Classification in Consolidated Balance Sheets of Derivative Instruments

The following table summarizes the fair values and classification in the consolidated balance sheets of derivative instruments held by the Company.

(in thousands)	Balance Sheet Classification	January 1, 2017		January 3, 2016
Assets:
Commodity hedges at fair market value	Prepaid expenses and other current assets	$	1,289	$	-
Commodity hedges at fair market value	Other assets		-		3
Total assets		$	1,289	$	3
Liabilities:
Commodity hedges at fair market value	Other liabilities	$	-	$	3,442
Total liabilities		$	-	$	3,442

Summary of Gross Derivative Assets and Gross Derivative Liabilities in Consolidated Balance Sheets

The following table summarizes the Company’s gross derivative assets and gross derivative liabilities in the consolidated balance sheets

(in thousands)	January 1, 2017		January 3, 2016
Gross derivative assets	$	1,297	$	222
Gross derivative liabilities		8		3,661

Summary of Outstanding Commodity Derivative Agreements

The following table summarizes the Company’s outstanding commodity derivative agreements:

(in thousands)	January 1, 2017		January 3, 2016
Notional amount of outstanding commodity derivative agreements	$	13,146	$	64,884
Latest maturity date of outstanding commodity derivative agreements	December 2017		December 2017