Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 29, 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:

	June 29, 2013
(In thousands)	Location		Fair value
Commodity contracts	Other current liabilities:	Loss positions	$	(1,636	)

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

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 Recognized in Accumulated OCI (Effective Portion), Net of Tax
	For the Quarter Ended						For the Six Months Ended
(In thousands)	June 29, 2013			June 30, 2012			June 29, 2013			June 30, 2012
Commodity contracts	$	(2,876	)	$	(1,394	)	$	(3,530	)	$	(107	)

	Loss Reclassified from Accumulated OCI into Income (Effective Portion), Net of Tax
	For the Quarter Ended				For the Six Months Ended
(In thousands)	June 29, 2013		June 30, 2012		June 29, 2013		June 30, 2012
Commodity contracts:
Cost of goods sold	$	2,596	$	804	$	2,521	$	430

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 June 29, 2013
(In thousands)	Location	Amount
Gain on the derivatives designated and qualifying fair value hedges:
Commodity Contracts	Cost of goods sold	$	1,857
(Loss) on the hedged item designated and qualifying fair value hedges:
Inventory	Cost of goods sold	$	(1,928	)

	Gains (Losses) on Fair Value Hedges for the Six Months Ended June 29, 2013
(In thousands)	Location	Amount
Gain on the derivatives designated and qualifying fair value hedges:
Commodity Contracts	Cost of goods sold	$	5,190
(Loss) on the hedged item designated and qualifying fair value hedges:
Inventory	Cost of goods sold	$	(4,813	)