Hedging Transactions and Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Reconciliation of Company's Derivatives by Contract Type

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

(in millions of U.S. dollars)	March 30, 2019					December 29, 2018
Derivative Contract	Assets		Liabilities			Assets		Liabilities
Coffee futures1	$	—	$	(17.1	)	$	—	$	(10.9	)

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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 March 30, 2019 and December 29, 2018, the aggregate margin account balances were $14.6 million and $12.9 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)	March 30, 2019			December 29, 2018
Coffee futures assets	$	—		$	0.1
Coffee futures liabilities	(17.1		)	(11.0		)
Net asset (liability)	$	(17.1	)	$	(10.9	)

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 months ended March 30, 2019 and March 31, 2018, respectively, is shown in the table below:

	For the Three Months Ended
	March 30, 2019		March 31, 2018
(in millions of U.S. dollars)	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	$	291.2	$	287.3
Loss on cash flow hedging relationship
Coffee futures:
Loss reclassified from AOCI into expense	$	2.6	$	0.9