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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 28, 2015
Derivative Instruments and Hedging Activities [Abstract]  
Derivative instruments designated as cash flow hedges reflected in the financial statements
The following table summarizes the location and fair value of the derivative instruments and disaggregates our net derivative assets and liabilities into gross components on a contract-by-contract basis:

 
Asset Derivatives
 
Liability Derivatives
 
     
     
Fair Value
     
Fair Value
 
         
(In thousands)
Balance Sheet Location
 
March 28, 2015
   
December 27, 2014
 
Balance Sheet Location
 
March 28, 2015
   
December 27, 2014
 
               
Hedging instrument:
                           
  Commodity contracts - gains
Other current assets
 
$
941
   
$
99
 
Other current liabilities
 
$
310
   
$
15
 
  Commodity contracts - losses
Other current assets
   
(102
)
   
(4
)
Other current liabilities
   
(614
)
   
(832
)
  Foreign currency contracts
Other current assets
   
—
     
—
 
Other current liabilities
   
(9
)
   
(81
)
  Interest rate swap
Other assets
   
—
     
—
 
Other liabilities
   
(2,436
)
   
(927
)
                   
Total derivatives (1)
   
$
839
   
$
95
     
$
(2,749
)
 
$
(1,825
)
                   
                                     
(1) Does not include the impact of cash collateral provided to counterparties.
 
Schedule of fair value hedges
The following tables summarize the effects of derivative instruments in our Condensed Consolidated Statements of Income:
     
Three Months Ended
 
     
(In thousands)
Location
 
March 28, 2015
   
March 29, 2014
 
        
Fair value hedges:
             
  Gain on commodity contracts (qualifying)
Cost of goods sold
 
$
213
   
$
6,291
 
  Loss on hedged item - Inventory
Cost of goods sold
   
(247
)
   
(5,800
)
                   
Undesignated derivatives:
                 
  Gain on commodity contracts (nonqualifying)
Cost of goods sold
 
$
234
   
$
1,538
 
Summary of activities related to derivative instruments classified as cash flow hedges
The following tables summarize amounts recognized in and reclassified from AOCI during the period:

   
Three Months Ended March 28, 2015
   
     
(In thousands)
 
Gain (Loss) Recognized in AOCI (Effective Portion), Net of Tax
   
Classification Gains (Losses)
   
Loss (Gain)
Reclassified from AOCI (Effective Portion), Net of Tax
   
           
Cash flow hedges:
                     
Commodity contracts
 
$
274
   
Cost of goods sold
 
$
571
   
Foreign currency contracts
   
(55
)
 
Depreciation expense
   
—
   
Interest rate swap
   
(1,032
)
 
Interest expense
   
68
   

   
Three Months Ended March 29, 2014
   
     
(In thousands)
 
(Loss) Gain Recognized in AOCI (Effective Portion), Net of Tax
   
Classification Gains (Losses)
   
Loss (Gain)
Reclassified from AOCI (Effective Portion), Net of Tax
   
           
Cash flow hedges:
                     
Commodity contracts
 
$
(1,010
)
 
Cost of goods sold
 
$
291
   
Foreign currency contracts
   
22
   
Depreciation expense
   
(174
)
 
Interest rate swap
   
(245
)
 
Interest expense
   
 —