Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 28, 2015

Fair Value of Financial Instruments (Thousands of Dollars) [Abstract]

Fair Value Hierarchy

At June 28, 2015, June 29, 2014 and December 28, 2014, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets:

			Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 28, 2015
Assets:
Available-for-sale securities	$	38,725		5,959		21,777		10,989
Derivatives		105,906		-		105,906		-
Total assets	$	144,631		5,959		127,683		10,989
Liabilities:
Derivatives	$	2,748		-		2,748		-
Option agreement		25,190		-		-		25,190
Total liabilities	$	27,938		-		2,748		25,190
June 29, 2014
Assets:
Available-for-sale securities	$	40,712		7,183		27,912		5,617
Derivatives		533		-		533		-
Total assets	$	41,245		7,183		28,445		5,617
Liabilities:
Derivatives	$	16,131		-		16,131		-
December 28, 2014
Assets:
Available-for-sale securities	$	28,042		4,482		17,773		5,787
Derivatives		69,148		-		69,148		-
Total assets	$	97,190		4,482		86,921		5,787
Liabilities:
Derivatives	$	2,591		-		2,591		-
Option agreement		25,340		-		-		25,340
Total Liabilities	$	27,931		-		2,591		25,340

Reconciliation of Level 3 Fair Value

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):

	2015			2014
Balance at beginning of year	$	(19,553	)		5,484
Purchases		5,000			-
Gain from change in fair value		352			133
Balance at end of second quarter	$	(14,201	)		5,617