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DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 27, 2014
Schedule of Fair Value of Assets and Liabilities

The following table presents information about financial instruments at the balance sheet dates indicated.

 

     September 27, 2014      December 28, 2013  
(In millions)    Carrying
Value
     Fair
Value
     Carrying
Value
     Fair
Value
 

Financial assets

           

Timber notes receivables

   $ 931      $ 935       $ 945      $ 933  

Financial liabilities

           

Recourse debt

           

9.75% senior secured notes, due 2019

     250        282         250        290  

7.35% debentures, due 2016

     18        19         18        19  

Revenue bonds, due in varying amounts periodically through 2029

     186        186         186        186  

American & Foreign Power Company, Inc. 5% debentures, due 2030

     13        13         13        13  

Non-recourse debt

   $ 844      $ 850       $ 859      $ 851