FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 28, 2014

Schedule of Assets and Liabilities Measured on a Recurring Basis

The following items were measured at fair value on a recurring basis:



	September 28, 2014
	Level 1			Level 2			Level 3		Total
	(In thousands)
Derivative assets - commodity futures instruments	$	5,125		$	—		$	—	$	5,125
Derivative assets - commodity options instruments	—			62			—		62
Derivative assets - foreign currency instruments	1,278			—			—		1,278
Deferred compensation plan assets	7,218			—			—		7,218
Derivative liabilities - commodity futures instruments	(5,350		)	—			—		(5,350		)
Derivative liabilities - commodity options instruments	—			(1,013		)	—		(1,013		)
Long-term debt and other borrowing arrangements:
Public bonds and notes	525,335			—			—		525,335
Capitalized lease obligations	—			—			627		627



	December 29, 2013
	Level 1			Level 2		Level 3		Total
	(In thousands)
Short-term investments in available-for-sale securities	$	—		$	96,902	$	—	$	96,902
Derivative assets - commodity futures instruments	1,494			—		—		1,494
Derivative assets - commodity options instruments	—			1,395		—		1,395
Derivative assets - foreign currency instruments	1,214			—		—		1,214
Deferred compensation plan assets	7,208			—		—		7,208
Derivative liabilities - commodity futures instruments	(1,728		)	—		—		(1,728		)
Long-term debt and other borrowing arrangements:
Public bonds and notes	552,592			—		—		552,592
Term notes	—			—		424,650		424,650
Capitalized lease obligations	—			—		704		704

Schedule of Change in Value of Level 3 Liabilities



	Term Notes and Revolver						Capitalized Lease Obligations
	Thirty-Nine Weeks Ended						Thirty-Nine Weeks Ended
	September 28, 2014			September 29, 2013			September 28, 2014			September 29, 2013
Change in Value of Level 3 Liabilities:	(In thousands)
Balance, beginning of period	$	424,650		$	686,435		$	704		$	880
Borrowings	—			509,500			—			—
Payments	(410,099		)	(762,091		)	(100		)	(92		)
Change in fair value inputs	(14,551		)	(6,983		)	23			—
Balance, end of period	$	—		$	426,861		$	627		$	788

Schedule of Carrying Amounts and Estimated Fair Values of Financial Assets and Liabilities

The carrying amounts and estimated fair values of financial assets and liabilities recorded in the Condensed Consolidated Balance Sheets consisted of the following:



	September 28, 2014						December 29, 2013
	Carrying Amount			Fair Value			Carrying Amount			Fair Value			Note Reference
				(In thousands)
Short-term investments in available-for-sale securities	$	—		$	—		$	96,902		$	96,902		5
Derivative assets - commodity futures instruments	5,125			5,125			1,494			1,494			6
Derivative assets - commodity options instruments	62			62			1,395			1,395			6
Derivative assets - foreign currency instruments	1,278			1,278			1,214			1,214			6
Deferred compensation plan assets	7,218			7,218			7,208			7,208
Derivative liabilities - commodity futures instruments	(5,350		)	(5,350		)	(1,728		)	(1,728		)	6
Derivative liabilities - commodity options instruments	(1,013		)	(1,013		)	—			—			6
Long-term debt and other borrowing arrangements	(502,376		)	(525,962		)	(912,233		)	(977,946		)	9

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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