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DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 27, 2015
Schedule of Fair Value of Assets and Liabilities

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

 

     June 27, 2015      December 27, 2014  
(In millions)    Carrying
Value		      Fair
Value		      Carrying
Value		      Fair
Value		  

Financial assets

            

Timber notes receivable

    $ 915       $   919       $ 926       $   930   

Financial liabilities

            

Recourse debt

            

9.75% senior secured notes, due 2019

      250         275         250         280   

7.35% debentures, due 2016

      18         18         18         18   

Revenue bonds, due in varying amounts periodically through 2029

      186         184         186         185   

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

      14         13         14         13   

Non-recourse debt

      829         835         839         845