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DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 26, 2015
Schedule of Fair Value of Assets and Liabilities

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

 

     September 26, 2015      December 27, 2014  
(In millions)    Carrying
Value
     Fair
Value
     Carrying
Value
     Fair
Value
 

Financial assets

           

Timber notes receivable

   $ 910       $ 919       $ 926       $ 930   

Financial liabilities

           

Recourse debt

           

9.75% senior secured notes, due 2019

     250         265         250         280   

7.35% debentures, due 2016

     18         18         18         18   

Revenue bonds, due in varying amounts periodically through 2029

     186         182         186         185   

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

     14         13         14         13   

Non-recourse debt

     824         835         839         845