Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 30, 2013

Derivative Instruments and Hedging Activities [Abstract]

Derivative instruments designated as cash flow hedges reflected in the financial statements

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

	March 30, 2013
(In thousands)	Location		Fair value
Commodity contracts	Other current liabilities:
		Loss positions		(1,371	)

	December 29, 2012
(In thousands)	Location		Fair value
Commodity contracts	Other current liabilities:	Gain positions	$	172
		Loss positions		(420	)

During 2012, the Company entered into contracts to purchase heavy machinery and equipment. These contracts are denominated in euros. To protect itself against adverse exchange rate fluctuations, the Company has entered into forward contracts to purchase euros.  At March 30, 2013, the Company held open forward contracts to purchase approximately 6.5 million euros over the next 14 months.   The fair value was determined by obtaining quoted market prices (Level 1 hierarchy as defined by ASC 820).

	March 30, 2013
(In thousands)	Location		Fair value
Firm commitment	Other current assets:	Gain positions	$	53
Foreign currency contracts	Other current liabilities:	Loss positions		(53	)
	December 29, 2012
(In thousands)	Location		Fair value
Foreign currency contracts	Other current assets:	Gain positions	$	307
Firm commitment	Other current liabilities:	Loss positions		(307	)

Summary of activities related to derivative instruments classified as cash flow hedges

The following tables summarize activities related to the Company's commodity contract derivative instruments classified as cash flow hedges:

	(Loss) Gain Recognized in Accumulated OCI (Effective Portion), Net of Tax
		For the Quarter Ended
(In thousands)		March 30, 2013			March 31, 2012
Commodity contracts		$	(654	)	$	1,287

	(Gain) Loss Reclassified from Accumulated OCI into Income (Effective Portion), Net of Tax
		For the Quarter Ended
(In thousands)		March 30, 2013			March 31, 2012
Commodity contracts:
Cost of goods sold		$	(74	)	$	(374	)

The following tables summarize activities related to the interest rate swap agreement derivative instruments classified as a cash flow hedge:

	(Loss) Gain Recognized in Accumulated OCI (Effective Portion), Net of Tax
		For the Quarter Ended
(In thousands)		March 30, 2013			March 31, 2012
Interest rate swap		$	(999	)	$	—

Schedule of fair value hedges

The following tables summarize the gains (losses) on the Company's inventory fair value hedges:

	Gains (Losses) on Fair Value Hedges for the Quarter Ended March 30, 2013
(In thousands)	Location	Amount
Gain on the derivatives designated and qualifying fair value hedges:
Commodity Contracts	Cost of goods sold	$	3,333
(Loss) on the hedged item designated and qualifying fair value hedges:
Inventory	Cost of goods sold	$	(2,885	)