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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Oct. 01, 2016
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 the 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
 
October 1,
2016
 
December 26,
 2015
 
Balance Sheet Location
 
October 1,
2016
 
December 26,
 2015
 
Hedging instrument:
 
     
 
     
  Commodity contracts - gains
Other current assets
  
$
1,634
  
$
60
 
Other current liabilities
  
$
—
  
$
238
 
  Commodity contracts - losses
Other current assets
   
(23
)
  
—
 
Other current liabilities
   
(129
)
  
(1,864
)
  Interest rate swap
Other assets
   
—
   
—
 
Other liabilities
   
(1,601
)
  
(1,692
)
Total derivatives (1)
 
  
$
1,611
  
$
60
 
 
  
$
(1,730
)
 
$
(3,318
)
 
 
         
 
         
(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 the Company's Condensed Consolidated Statements of Income:

 
  
 
Quarter  Ended
 
Nine Months Ended
 
(In thousands)
Location
 
October 1,
2016
 
September 26,
 2015
 
October 1,
 2016
 
September 26,
 2015
 
Fair value hedges:
 
         
  (Loss) gain on commodity contracts (qualifying)
Cost of goods sold
  
$
(37
)
 
$
1,831
  
$
(420
)
 
$
3,300
 
  Gain (loss) on hedged item - Inventory
Cost of goods sold
   
31
   
(1,943
)
  
382
   
(3,593
)

 
  
 
Quarter  Ended
 
Nine Months Ended
 
(In thousands)
Location
 
October 1,
 2016
 
September 26,
 2015
 
October 1,
2016
 
September 26,
 2015
 
Undesignated derivatives:
 
             
  Gain on commodity contracts (nonqualifying)
Cost of goods sold
  
$
855
  
$
1,143
  
$
2,676
  
$
2,422
 
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:

 
Quarter Ended October 1, 2016
 
(In thousands)
(Loss) Gain Recognized in AOCI (Effective Portion), Net of Tax
 
Classification Gains (Losses)
 
(Gain) Loss Reclassified from AOCI (Effective Portion), Net of Tax
 
Cash flow hedges:
  
 
   
Commodity contracts
 
$
(1,434
)
Cost of goods sold
  
$
814
 
Interest rate swap
  
457
 
Interest expense
   
58
 
Other
  
(32
)
Other
   
(2
) 
Total
 
$
(1,009
)
Total
  
$
870
 
 
 
Quarter Ended September 26, 2015
 
(In thousands)
(Loss) Gain Recognized in AOCI (Effective Portion), Net of Tax
 
Classification Gains (Losses)
 
(Gain) Loss Reclassified from AOCI (Effective Portion), Net of Tax
 
Cash flow hedges:
  
 
   
Commodity contracts
 
$
(2,046
)
Cost of goods sold
  
$
1,708
 
Interest rate swap
  
(632
)
Interest expense
   
58
 
Other
  
(7
)
Other
   
4
 
Total
 
$
(2,685
)
Total
  
$
1,770
 
 
 
Nine Months Ended October 1, 2016
 
(In thousands)
Gain (Loss) Recognized in AOCI (Effective Portion), Net of Tax
 
Classification Gains (Losses)
 
(Gain) Loss Reclassified from AOCI (Effective Portion), Net of Tax
 
Cash flow hedges:
  
 
   
Commodity contracts
 
$
1,903
 
Cost of goods sold
  
$
(477
)
Interest rate swap
  
(128
)
Interest expense
   
186
 
Other
  
(329
)
Other
   
—
 
Total
 
$
1,446
 
Total
  
$
(291
)

 
Nine Months Ended September 26, 2015
 
(In thousands)
(Loss) Gain Recognized in AOCI (Effective Portion), Net of Tax
 
Classification Gains (Losses)
 
(Gain) Loss Reclassified from AOCI (Effective Portion), Net of Tax
 
Cash flow hedges:
  
 
   
Commodity contracts
 
$
(2,931
)
Cost of goods sold
  
$
2,198
 
Interest rate swap
  
(1,397
)
Interest expense
   
189
 
Other
  
(75
)
Other
   
—
 
Total
 
$
(4,403
)
Total
  
$
2,387