Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 29, 2013

Derivative Financial Instruments

Summary of fair value of derivatives included on Consolidated Balance Sheets

The following table summarizes the fair value of the Company’s derivatives included on the Unaudited Consolidated Balance Sheets (in thousands):

	June 29, 2013			September 29, 2012			Balance Sheet Classification
Derivatives designated as hedges:
Cash Flow Hedges:
Interest rate swaps	$	(6,329	)	$	(9,019	)	Other current liabilities
Coffee futures	(853		)	(342		)	Other current liabilities
	$	(7,182	)	$	(9,361	)
Derivatives not designated as hedges:
Cross currency swap	$	1,752		$	(7,242	)	Other current assets (other current liabilities)
	$	1,752		$	(7,242	)
Total	$	(5,430	)	$	(16,603	)

Summary of gain (loss), gross of tax, arising during the period on financial instruments that qualify for hedge accounting included in OCI

The following table summarizes the amount of gain (loss), gross of tax, arising during the period on financial instruments that qualify for hedge accounting included in OCI (in thousands):

	Thirteen weeks ended						Thirty-nine weeks ended
	June 29, 2013			June 23, 2012			June 29, 2013			June 23, 2012
Cash Flow Hedges:
Interest rate swaps	$	1,020		$	(366	)	$	2,690		$	1,120
Coffee futures	(2,714		)	(538		)	(3,662		)	(2,754		)
Total	$	(1,694	)	$	(904	)	$	(972	)	$	(1,634	)

Summary of gains (losses), gross of tax, reclassified from OCI to income

The following table summarizes the amount of gains (losses), gross of tax, reclassified from OCI to income (in thousands):

	Thirteen weeks ended					Thirty-nine weeks ended
	June 29, 2013			June 23, 2012		June 29, 2013			June 23, 2012		Location of Losses Reclassified from OCI into Income
Coffee futures	$	(394	)	$	440	$	(1,122	)	$	106	Cost of sales
Total	$	(394	)	$	440	$	(1,122	)	$	106

Summarizes the amount of gain (loss), gross of tax, on fair value hedges and related hedged items

The amount of gain (loss), gross of tax, on fair value hedges and related hedged items for the thirteen weeks ended June 29, 2013 and June 23, 2012 is as follows (in thousands):

	Thirteen weeks ended
	June 29, 2013				June 23, 2012
	Gain (loss) on hedging derivatives		Gain (loss) on hedged items		Gain (loss) on hedging derivatives			Gain (loss) on hedged items		Location of Gain (Loss) Recognized in Income on Derivative
Foreign currency forwards contracts	$	—	$	—	$	(19	)	$	19	(Loss) gain on foreign currency, net

The amount of gain (loss), gross of tax, on fair value hedges and related hedged items for the thirty-nine weeks ended June 29, 2013 and June 23, 2012 is as follows (in thousands):

	Thirty-nine weeks ended
	June 29, 2013					June 23, 2012
	Gain (loss) on hedging derivatives			Gain (loss) on hedged items		Gain (loss) on hedging derivatives			Gain (loss) on hedged items		Location of Gain (Loss) Recognized in Income on Derivative
Foreign currency forwards contracts	$	(10	)	$	10	$	(48	)	$	48	(Loss) gain on foreign currency, net

Schedule of net gains (losses) on financial instruments not designated as hedges for accounting purposes recorded in gain (loss) on financial instruments

Net gains (losses) on financial instruments not designated as hedges for accounting purposes recorded in gain (loss) on financial instruments, net, is as follows (in thousands):

	Thirteen weeks ended					Thirty-nine weeks ended
	June 29, 2013		June 23, 2012			June 29, 2013		June 23, 2012
Net gain (loss) on cross currency swap	$	4,419	$	3,181		$	8,994	$	(32	)
Net loss on coffee futures	—		(148		)	—		(148		)
Net loss on interest rate cap	—		(1		)	—		(34		)
Total	$	4,419	$	3,032		$	8,994	$	(214	)