Derivative Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Recorded at Fair Value in Unaudited Condensed Consolidated Balance Sheets

At September 30, 2018 and December 31, 2017, our derivatives recorded at fair value in our unaudited Condensed Consolidated Balance Sheets consisted of the following:

	Derivative Assets				Derivative Liabilities
	September 30, 2018		December 31, 2017		September 30, 2018		December 31, 2017
	(In thousands)
Commodities contracts — current(1)	$	2,056	$	1,431	$	310	$	1,829
Commodities contracts — non-current(2)	—		—		—		15
Total derivatives	$	2,056	$	1,431	$	310	$	1,844

(1) Derivative assets and liabilities that have settlement dates equal to or less than 12 months from the respective balance sheet date are included in prepaid expenses and other current assets and accounts payable and accrued expenses, respectively, in our unaudited Condensed Consolidated Balance Sheets.

(2) Derivative assets and liabilities that have settlement dates greater than 12 months from the respective balance sheet date are included in identifiable intangible and other assets, net and other long-term liabilities, respectively, in our unaudited Condensed Consolidated Balance Sheets.

Schedule of Derivative Assets and Liabilities Measured at Fair Value on Recurring Basis

A summary of our derivative assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 is as follows (in thousands):

	Fair Value as of September 30, 2018		Level 1		Level 2		Level 3
Asset — Commodities contracts	$	2,056	$	—	$	2,056	$	—
Liability — Commodities contracts	310		—		310		—

A summary of our derivative assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 is as follows (in thousands):

	Fair Value as of December 31, 2017		Level 1		Level 2		Level 3
Asset — Commodities contracts	$	1,431	$	—	$	1,431	$	—
Liability — Commodities contracts	1,844		—		1,844		—

Schedule of Carrying Value and Fair Value of Senior Notes and Subsidiary Senior Notes

The following table presents the outstanding principal amount and fair value of the 2023 Notes at September 30, 2018 and December 31, 2017:

	September 30, 2018				December 31, 2017
	Amount Outstanding		Fair Value		Amount Outstanding		Fair Value
	(In thousands)
Dean Foods Company senior notes due 2023	$	700,000	$	658,700	$	700,000	$	698,250

Schedule of SERP Assets Measured at Fair Value on Recurring Basis

The following table presents a summary of the SERP assets measured at fair value on a recurring basis as of September 30, 2018 (in thousands):

	Total		Level 1		Level 2		Level 3
Money market	$	7	$	—	$	7	$	—
Mutual funds	1,782		—		1,782		—

The following table presents a summary of the SERP assets measured at fair value on a recurring basis as of December 31, 2017 (in thousands):

	Total		Level 1		Level 2		Level 3
Money market	$	22	$	—	$	22	$	—
Mutual funds	1,785		—		1,785		—