XML 45 R33.htm IDEA: XBRL DOCUMENT
v3.19.2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Derivative Instruments and Cash Collateral | Information regarding the Company’s outstanding derivative instruments and collateral posted with brokers is included in the following table:
| June 30, 2019 |  | December 30, 2018
| (Fair values in thousands)
Fair values: |  |  |
Commodity derivative assets | $ | 3,987 |  |  | $ | 2,263 |
Commodity derivative liabilities | (20,635 | ) |  | (4,791 | )
Foreign currency derivative assets | 1,372 |  |  | 1,311 |
Foreign currency derivative liabilities | (166 | ) |  | (6,649 | )
Collateral posted with brokers(a) | 33,379 |  |  | 23,192 |
Derivatives coverage(b): |  |  |
Corn | 27.7 | % |  | 6.0 | %
Soybean meal | 29.6 | % |  | 6.0 | %
Period through which stated percent of needs are covered: |  |  |
Corn | July 2020 |  |  | March 2020 |
Soybean meal | May 2020 |  |  | December 2019 |
(a) | Collateral posted with brokers consists primarily of cash, short term treasury bills, or other cash equivalents.
(b) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:
| Gain (Loss) Recognized in Other Comprehensive Loss on Derivative
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended
| June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018
| (In thousands)
Foreign currency derivatives | $ | 1,303 |  |  | $ | (98 | ) |  | $ | 388 |  |  | $ | (97 | )
Total | $ | 1,303 |  |  | $ | (98 | ) |  | $ | 388 |  |  | $ | (97 | )
| Gain (Loss) Reclassified from AOCI into Income
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended
| June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018
| (In thousands)
Foreign currency derivatives | $ | (48 | ) |  | $ | (222 | ) |  | $ | 173 |  |  | $ | (472 | )
Total | $ | (48 | ) |  | $ | (222 | ) |  | $ | 173 |  |  | $ | (472 | )

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 gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 -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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration