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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 27, 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
 
June 27, 2015
   
December 27, 2014
 
Balance Sheet Location
 
June 27, 2015
   
December 27, 2014
 
Hedging instrument:
                       
  Commodity contracts - gains
Other current assets
 
$
1,361
   
$
99
 
Other current liabilities
 
$
40
   
$
15
 
  Commodity contracts - losses
Other current assets
   
—
     
(4
)
Other current liabilities
   
(1,319
)
   
(832
)
  Foreign currency contracts
Other current assets
   
—
     
—
 
Other current liabilities
   
(34
)
   
(81
)
  Interest rate swap
Other assets
   
—
     
—
 
Other liabilities
   
(1,921
)
   
(927
)
Total derivatives (1)
   
$
1,361
   
$
95
     
$
(3,234
)
 
$
(1,825
)
                                     
(1) Does not include the impact of cash collateral received from or provided to counterparties.
 
Schedule of fair value hedges
The following tables summarize the effects of derivative instruments on our Condensed Consolidated Statements of Income:

     
Three Months Ended
   
Six Months Ended
 
(In thousands)
Location
 
June 27, 2015
   
June 28, 2014
   
June 27, 2015
   
June 28, 2014
 
Fair value hedges:
                     
  Gain (loss) on commodity contracts (qualifying)
Cost of goods sold
 
$
1,256
   
$
(20
)
 
$
1,468
   
$
6,271
 
  (Loss) gain on hedged item - Inventory
Cost of goods sold
   
(1,403
)
   
20
     
(1,650
)
   
(5,780
)
                                   
Undesignated derivatives:
                                 
  Gain (loss) on commodity contracts (nonqualifying)
Cost of goods sold
   
1,046
     
(72
)
   
1,279
     
1,466
 
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 June 27, 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
 
 $
(1,159
) 
   
Cost of goods sold
 
 
$
 (81 )
Foreign currency contracts
   
3
     
Depreciation expense
 
 
    — 
Interest rate swap
   
267
     
Interest expense
 
 
    63 


 
   
        Three Months Ended June 28, 2014
 
(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
 
 $
578
    
Cost of goods sold
 
 
$
  168 
Foreign currency contracts
   
(25
)
  
Depreciation expense
   
 
  (63
)
Interest rate swap
   
(1,022
)
  
Interest expense
   
 
  — 
 
 
 
  
                Six Months Ended June 27, 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
 
$
(885
)  
Cost of goods sold
 
$
490 
Foreign currency contracts
  
(52
)
  
Depreciation expense
  
—
 
Interest rate swap
  
(765
)
  
Interest expense
  
131 
        Other  (19  )   Other   —  

 
  
           Six Months Ended June 28, 2014
 
(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
 
$
(432
)  
Cost of goods sold
 
$
459 
Foreign currency contracts
  
(3
)
  
Depreciation expense
  
(237
)
Interest rate swap
  
(1,267
)
  
Interest expense
  
—