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Commodity Derivative Instruments (Tables) | 9 Months Ended
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Sep. 29, 2023
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 values of the Company’s commodity derivative instruments and the classification of such changes in the condensed consolidated statements of operations:
|  | Third Quarter |  | First Nine Months
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Cost of sales |  | $ | (25) |  |  | $ | 1,100 |  |  | $ | (1,517) |  |  | $ | (5,069) |
Selling, delivery and administrative expenses |  | 703 |  |  | (4,711) |  |  | (2,211) |  |  | 2,512 |
Total gain (loss) |  | $ | 678 |  |  | $ | (3,611) |  |  | $ | (3,728) |  |  | $ | (2,557) |
Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments | The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the condensed consolidated balance sheets:
(in thousands) |  | September 29, 2023 |  | December 31, 2022
Prepaid expenses and other current assets |  | $ | 1,080 |  |  | $ | 4,808 |
Total assets |  | $ | 1,080 |  |  | $ | 4,808 |
Summary of Gross Derivative Assets and Gross Commodity Derivative Assets and Liabilities in Condensed Consolidated Balance Sheets | The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets:
(in thousands) |  | September 29, 2023 |  | December 31, 2022
Gross commodity derivative instrument assets |  | $ | 1,080 |  |  | $ | 4,808 |
Gross commodity derivative instrument liabilities |  | — |  |  | — |
Summary of Outstanding Commodity Derivative Instruments | The following table summarizes the Company’s outstanding commodity derivative instruments:
(in thousands) |  | September 29, 2023 |  | December 31, 2022
Notional amount of outstanding commodity derivative instruments |  | $ | 20,076 |  |  | $ | 61,128 |
Latest maturity date of outstanding commodity derivative instruments |  | December 2023 |  | December 2023

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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 -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
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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 -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
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