XML 43 R30.htm IDEA: XBRL DOCUMENT v3.24.2

Financial Instruments (Tables)

6 Months Ended

Jun. 29, 2024

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 Derivatives																		Liability Derivatives
												Fair Value																		Fair Value
(In thousands)						Balance Sheet Location						June 29, 2024						December 30, 2023						Balance Sheet Location						June 29, 2024						December 30, 2023
Commodity contracts - gains						Other current assets						$	—					$	589					Other current liabilities						$	2,131					$	16
Commodity contracts - losses						Other current assets						—						(281)						Other current liabilities						(9,919)						(383)
Total derivatives (1)												$	—					$	308											$	(7,788)					$	(367)

(1) Does not include the impact of cash collateral 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:

												For the Quarter Ended												For the Six Months Ended
(In thousands)						Location						June 29, 2024						July 1, 2023						June 29, 2024						July 1, 2023
Undesignated derivatives:
(Loss) gain on commodity contracts (nonqualifying)						Cost of goods sold						$	(7,146)					$	427					$	(6,658)					$	(2,057)

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 Quarter Ended June 29, 2024
(In thousands)						Gain (Loss) Recognized in AOCI (Effective Portion), Net of Tax						Classification Gains (Losses)						Gain Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:
Commodity contracts						$	462					Cost of goods sold						$	(1,197)
Other						(11)						Other						—
Total						$	451					Total						$	(1,197)

Amounts recognized in and reclassified from AOCI (continued):

						For the Quarter Ended July 1, 2023
(In thousands)						(Loss) Gain Recognized in AOCI (Effective Portion), Net of Tax						Classification Gains (Losses)						Gain Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:
Commodity contracts						$	(1,961)					Cost of goods sold						$	(742)
Other						24						Other						—
Total						$	(1,937)					Total						$	(742)

						For the Six Months Ended June 29, 2024
(In thousands)						Gain Recognized in AOCI (Effective Portion), Net of Tax						Classification Gains (Losses)						Gain Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:
Commodity contracts						$	1,129					Cost of goods sold						$	(1,570)
Other						22						Other						—
Total						$	1,151					Total						$	(1,570)

						For the Six Months Ended July 1, 2023
(In thousands)						Gain (Loss) Recognized in AOCI (Effective Portion), Net of Tax						Classification Gains (Losses)						Gain Reclassified from AOCI (Effective Portion), Net of Tax
Cash flow hedges:
Commodity contracts						$	1,008					Cost of goods sold						$	(2,731)
Other						(2)						Other						—
Total						$	1,006					Total						$	(2,731)

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration