Hedging Transactions and Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Reconciliation of Company's Derivatives by Contract Type

Set forth below is a reconciliation of the Company’s derivatives by contract type for the periods indicated:

(in millions of U.S. dollars)	September 29, 2018				December 30, 2017
Derivative Contract	Assets		Liabilities		Assets		Liabilities
Coffee futures1	$	—	$	10.7	$	—	$	1.2

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¹ The fair value of the coffee futures excludes amounts in the related margin accounts. We are required to maintain margin accounts in accordance with futures market and broker regulations. As of September 29, 2018 and December 30, 2017, the aggregate margin account balances were $15.4 million and $5.3 million, respectively, and are included in cash and cash equivalents on the Consolidated Balance Sheets.

Summary of Fair Value of Coffee Futures Assets and Liabilities

The fair value of the coffee futures assets and liabilities which are shown on a net basis are reconciled in the table below:

(in millions of U.S. dollars)	September 29, 2018			December 30, 2017
Coffee futures assets	$	2.1		$	0.6
Coffee futures liabilities	(12.8		)	(1.8		)
Net asset (liability)	$	(10.7	)	$	(1.2	)

Derivative Instruments, Gain (Loss)

The location and amount of gains or losses recognized in the Consolidated Statements of Operations for cash flow hedging relationships, presented on a pre-tax basis, for the three and nine months ended September 29, 2018 and September 30, 2017, respectively, is shown in the table below:

	For the Three Months Ended					For the Nine Months Ended
	September 29, 2018		September 30, 2017			September 29, 2018		September 30, 2017
(in millions of U.S. dollars)	Cost of sales					Cost of sales
Total amounts of income and expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	$	298.8	$	288.1		$	888.3	$	849.7
Loss (gain) on cash flow hedging relationship
Coffee futures:
Loss (gain) reclassified from AOCI into expense	$	2.4	$	(0.2	)	$	3.8	$	(1.7	)