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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of 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 DerivativesLiability Derivatives
   Fair Value Fair Value
(In thousands)Balance Sheet Location20232022Balance Sheet Location20232022
      
Commodity contracts - gains
Other current assets
$589 $3,746 
Other current liabilities
$16 $— 
Commodity contracts - losses
Other current assets
(281)(1,483)
Other current liabilities
(383)— 
Total derivatives (1)
 $308 $2,263  $(367)$— 
(1) Does not include the impact of cash collateral provided to counterparties.
Schedule of Fair Value Hedges
The following table summarizes the effects of derivative instruments on the Consolidated Statements of Income:

(In thousands)Location20232022
   
Undesignated derivatives:   
(Loss) gain on commodity contracts (nonqualifying)Cost of goods sold$(1,071)$20,659 
Schedule 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:

 For the Year Ended December 30, 2023
(In thousands)Gain (Loss) Recognized in AOCI (Effective Portion), Net of TaxClassification Gains (Losses)Gain Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:   
Commodity contracts$1,180 Cost of goods sold$(2,419)
Other(34)Other— 
Total$1,146 Total$(2,419)

 For the Year Ended December 31, 2022
(In thousands)(Loss) Gain Recognized in AOCI (Effective Portion), Net of TaxClassification Gains (Losses)Loss Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:   
Commodity contracts$(7,066)Cost of goods sold$7,666 
Other83 Other— 
Total$(6,983)Total$7,666