Derivative Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jul. 01, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents for each of the fair value hierarchies, the assets and liabilities that are measured at fair value on a recurring basis as of July 1, 2017 and December 31, 2016:

			July 1, 2017
			Fair value
			asset (liability)	Level 1	Level 2	Level 3
			$	$	$	$
(a)	Commodity futures and forward contracts⁽¹⁾
		Unrealized short-term derivative asset	544	5	539	-
		Unrealized long-term derivative asset	3	-	3	-
		Unrealized short-term derivative liability	(323)	-	(323)	-
		Unrealized long-term derivative liability	(9)	-	(9)	-
(b)	Inventories carried at market⁽²⁾		4,107	-	4,107	-
(c)	Forward foreign currency contracts
		Not designated as hedging instruments⁽³⁾	(1,579)	-	(1,579)	-
		Designated as a hedging instruments⁽⁴⁾	1,176	-	1,176	-
(d)	Contingent consideration⁽⁵⁾		(11,153)	-	-	(11,153)
(e)	Embedded derivative⁽⁶⁾		2,690	-	-	2,690

			December 31, 2016
			Fair value
			asset (liability)	Level 1	Level 2	Level 3
			$	$	$	$
(a)	Commodity futures and forward contracts⁽¹⁾
		Unrealized short-term derivative asset	787	43	744	-
		Unrealized short-term derivative liability	(916)	-	(916)	-
		Unrealized long-term derivative liability	(8)	-	(8)	-
(b)	Inventories carried at market⁽²⁾		8,231	-	8,231	-
(c)	Forward foreign currency contracts
		Not designated as hedging instruments⁽³⁾	1,345	-	1,345	-
(d)	Contingent consideration⁽⁵⁾		(15,279)	-	-	(15,279)
(e)	Embedded derivative⁽⁶⁾		2,944	-	-	2,944

(1) Unrealized short-term derivative asset is included in prepaid expenses and other current assets, unrealized long-term derivative asset is included in other assets, unrealized short-term derivative liability is included in other current liabilities and unrealized long-term derivative liability is included in long-term liabilities on the consolidated balance sheets.

(2) Inventories carried at market are included in inventories on the consolidated balance sheets.

(3) Forward foreign currency contracts not designated as a hedge are included in accounts receivable or accounts payable and accrued liabilities on the consolidated balance sheets.

(4) Forward foreign currency contracts designated as a hedge are included in other assets or other current liabilities on the consolidated balance sheets.

(5) Contingent consideration obligations are included in long-term liabilities (including the current portion thereof) on the consolidated balance sheets.

(6) The embedded derivative is included in other assets (long-term) on the consolidated balance sheets.

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

As at July 1, 2017, the notional amounts of open commodity futures and forward purchase and sale contracts were as follows (in thousands of bushels):

	Number of bushels purchased (sold)
	Corn	Soybeans
Forward commodity purchase contracts	49	119
Forward commodity sale contracts	(261)	(782)
Commodity futures contracts	(100)	375

Schedule Of Business Acquisitions By Acquisition Contingent Consideration [Table Text Block]

The following table presents a reconciliation of contingent consideration obligations for the quarters and two quarters ended July 1, 2017 and July 2, 2016:

		Quarter ended		Two quarters ended
		July 1, 2017	July 2, 2016	July 1, 2017	July 2, 2016
		$	$	$	$
Balance, beginning of period		(15,130)	(21,208)	(15,279)	(21,010)
	Issuances	-	-	-	-
	Fair value adjustments⁽¹⁾	(84)	1,603	(204)	1,405
	Payments⁽²⁾	4,061	4,554	4,330	4,554
Balance, end of period		(11,153)	(15,051)	(11,153)	(15,051)

(1) For all periods presented, reflects the accretion for the time value of money, which is included in other income/expense (see note 11). In addition, for the quarter and two quarters ended July 2, 2016, included a gain of $1.7 million on the settlement of the contingent consideration obligation related to the Company’s acquisition of Niagara Natural Fruit Snack Company Inc. (“Niagara Natural”) in August 2015.

(2) For the quarter and two quarters ended July 1, 2017, reflects the second installment payment of deferred consideration to the former unitholders of Citrusource, LLC (“Citrusource”), which was acquired by the Company in March 2015, and payment of the remaining deferred consideration to a former shareholder of Organic Land Corporation OOD, which was acquired by the Company in December 2012. For the quarter and two quarters ended July 2, 2016, reflects the first installment payment related to Citrusource and cash settlement of the remaining obligation related to Niagara Natural.