Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jul. 02, 2011

Derivative Instruments and Hedging Activities [Abstract]

Summary of derivative instruments activities - balance sheet location

Derivative instruments designated as cash flow hedges under ASC 815 are reflected in the Condensed Consolidated Financial Statements as follows:

	July 2, 2011
	Location		Fair value
(In thousands)
Commodity contracts	Other current assets:	Gain positions	$	644
	Other current assets:	Loss positions	$	(106	)

	December 25, 2010
	Location		Fair value
(In thousands)
Commodity contracts	Other current assets:	Gain positions	$	891

Summary of derivative instruments activities - income statement location

The following tables summarize activities related to the Company’s derivative instruments, classified as cash flow hedges in accordance with ASC 815:

	Gain (Loss) Recognized in Accumulated OCI (Effective Portion), Net of Tax
	For the Quarter Ended				For the Six Months Ended
	July 2, 2011		June 26, 2010		July 2, 2011		June 26, 2010
(In thousands)
Commodity contracts (1)	$	961	$	82	$	793	$	468
(1) Includes $88 thousand attributable to noncontrolling interest for the six months ended June 26, 2010.

	(Gain) Loss Reclassified from Accumulated OCI into Income (Effective Portion), Net of Tax
	For the Quarter Ended						For the Six Months Ended
	July 2, 2011			June 26, 2010			July 2, 2011			June 26, 2010
(In thousands)
Commodity contracts:
Cost of goods sold	$	(417	)	$	(549	)	$	(1,026	)	$	(658	)

Schedule of fair value hedges

The following table summarizes the gains (losses) on the Company's fair value hedges for the three months ended July 2, 2011:

	Gains (losses) on fair value hedges for the Three months ended July 2, 2011
	Location	Amount
(In thousands)
(Loss) on the derivatives in designated and qualifying fair value hedges:
Commodity Contracts	Cost of goods sold	$	(3,406	)
Gain on the hedged item in designated and qualifying fair value hedges:
Inventory	Cost of goods sold	$	3,077