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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 29, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Summary of Pre-Tax Changes in Fair Value | The following table summarizes pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification of such changes in the condensed consolidated statements of operations.
|  |  |  | Third Quarter |  |  | First Nine Months |
(in thousands) |  | Classification of Gain (Loss) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Commodity hedges |  | Cost of sales |  | $ | 487 |  |  | $ | (260 | ) |  | $ | (482 | ) |  | $ | (2,776 | )
Commodity hedges |  | Selling, delivery and administrative expenses |  |  | (74 | ) |  |  | (209 | ) |  |  | 2,575 |  |  |  | (363 | )
Total gain (loss) |  |  |  | $ | 413 |  |  | $ | (469 | ) |  | $ | 2,093 |  |  | $ | (3,139 | )
Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments | The following table summarizes the fair values and classification in the condensed consolidated balance sheets of derivative instruments held by the Company:
(in thousands) |  | Balance Sheet Classification |  | September 29, 2019 |  |  | December 30, 2018 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Commodity hedges at fair market value |  | Other accrued liabilities |  | $ | 7,240 |  |  | $ | 10,305 |
Commodity hedges at fair market value |  | Other liabilities |  |  | 972 |  |  |  | - |
Total liabilities |  |  |  | $ | 8,212 |  |  | $ | 10,305 |
Summary of Gross Derivative Assets and Gross Derivative Liabilities in Condensed Consolidated Balance Sheets | The following table summarizes the Company’s gross derivative assets and gross derivative liabilities in the condensed consolidated balance sheets
(in thousands) |  | September 29, 2019 |  |  | December 30, 2018 |
Gross derivative assets |  | $ | 9,333 |  |  | $ | 28,305 |
Gross derivative liabilities |  |  | 17,545 |  |  |  | 38,610 |
Summary of Outstanding Commodity Derivative Agreements | The following table summarizes the Company’s outstanding commodity derivative agreements:
(in thousands) |  | September 29, 2019 |  |  | December 30, 2018 |
Notional amount of outstanding commodity derivative agreements |  | $ | 138,989 |  |  | $ | 168,388 |
Latest maturity date of outstanding commodity derivative agreements |  | December 2020 |  |  | December 2019 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
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