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Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended
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Sep. 28, 2013
Derivative Instruments and Hedging Activities [Abstract] |
Derivative instruments designated as cash flow hedges and fair value hedges reflected in the financial statements | Derivative instruments designated as cash flow hedges under ASC 815 are reflected in the Condensed Consolidated Financial Statements as follows:
| September 28, 2013 |
(In thousands) | Location |  | Fair Value |
Commodity contracts | Other current liabilities: | Gain positions |  | $ | 222 |
|  | Loss positions |  |  | (362 | )
| December 29, 2012 |
(In thousands) | Location |  | Fair Value |
Commodity contracts | Other current liabilities: | Gain positions |  | $ | 172 |
|  | Loss positions |  |  | (420 | )
Derivative instruments designated as fair value hedges under ASC 815 are reflected in the Condensed Consolidated Financial Statements as follows:
| September 28, 2013 |
(In thousands) | Location |  | Fair Value |
Commodity contracts | Other current liabilities: | Gain positions |  | $ | 203 |
|  | Loss positions |  |  | (1,355 | )
| December 29, 2012 |
(In thousands) | Location |  | Fair Value |
Commodity contracts | Other current assets: | Gain positions |  | $ | 1,047 |
|  | Loss positions |  |  | (548 | )
Summary of activities related to derivative instruments classified as cash flow hedges | The following tables summarize activities related to the Company’s derivative instruments classified as cash flow hedges in accordance with ASC 815:
|  | Gain (Loss) Recognized in Accumulated OCI (Effective Portion), Net of Tax |
|  | For the Quarter Ended |  |  | For the Nine Months Ended |
(In thousands) |  | September 28, 2013 |  |  | September 29, 2012 |  |  | September 28, 2013 |  |  | September 29, 2012 |
Commodity contracts |  | $ | 474 |  |  | $ | 562 |  |  | $ | (3,056 | ) |  | $ | 455 |
|  | Loss (Gain) Reclassified from Accumulated OCI into Income (Effective Portion), Net of Tax |
|  | For the Quarter Ended |  |  | For the Nine Months Ended |
(In thousands) |  | September 28, 2013 |  |  | September 29, 2012 |  |  | September 28, 2013 |  |  | September 29, 2012 |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | $ | 788 |  |  | $ | (2 | ) |  | $ | 3,309 |  |  | $ | 428 |
The following tables summarize the activity related to the interest rate swap:
|  | Gain (Loss) Recognized in Accumulated OCI (Effective Portion), Net of Tax |
|  | For the Quarter Ended |  |  | For the Nine Months Ended |
(In thousands) |  | September 28, 2013 |  |  | September 29, 2012 |  |  | September 28, 2013 |  |  | September 29, 2012 |
Interest rate swap |  | $ | (747 | ) |  | $ | — |  |  | $ | 649 |  |  | $ | — |
Schedule of fair value hedges | The following tables summarize the gains (losses) on the Company’s fair value hedges:
| (Losses) Gains on Fair Value Hedges for the Three Months Ended September 28, 2013 |
(In thousands) | Location |  | Amount |
(Loss) on the derivatives in designated and qualifying fair value hedges: |  |  |  |
Commodity Contracts | Cost of goods sold |  | $ | (846 | )
Gain on the hedged item in designated and qualifying fair value hedges: |  |  |  |  |
Inventory | Cost of goods sold |  | $ | 1,042 |
| (Losses) Gains on Fair Value Hedges for the Three Months Ended September 29, 2012 |
(In thousands) | Location |  | Amount |
(Loss) on the derivatives in designated and qualifying fair value hedges: |  |  |  |
Commodity Contracts | Cost of goods sold |  | $ | (2,261 | )
Gain on the hedged item in designated and qualifying fair value hedges: |  |  |  |  |
Inventory | Cost of goods sold |  | $ | 2,344 |
| Gains (Losses) on Fair Value Hedges for the Nine Months Ended September 28, 2013 |
(In thousands) | Location |  | Amount |
Gain on the derivatives in designated and qualifying fair value hedges: |  |  |  |
Commodity Contracts | Cost of goods sold |  | $ | 4,344 |
(Loss) on the hedged item in designated and qualifying fair value hedges: |  |  |  |  |
Inventory | Cost of goods sold |  | $ | (3,770 | )
| (Losses) Gains on Fair Value Hedges for the Nine Months Ended September 29, 2012 |
(In thousands) | Location |  | Amount |
(Loss) on the derivatives in designated and qualifying fair value hedges: |  |  |  |
Commodity Contracts | Cost of goods sold |  | $ | (2,261 | )
Gain on the hedged item in designated and qualifying fair value hedges: |  |  |  |  |
Inventory | Cost of goods sold |  | $ | 2,344 |

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- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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