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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Derivative Instruments and Cash Collateral | Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table:
| June 28, 2020 |  | December 29, 2019
| (In thousands) |  |
Fair values: |  |  |
Commodity derivative assets | $ | 11,481 |  |  | $ | 5,053 |
Commodity derivative liabilities | (25,324) |  |  | (5,430) |
Foreign currency derivative assets | 13,911 |  |  | 426 |
Foreign currency derivative liabilities | (504) |  |  | (5,400) |
Interest rate swap derivative liabilities | (931) |  |  | — |
Cash collateral posted with brokers(a) | 27,031 |  |  | 20,009 |
Derivatives coverage(b): |  |  |
Corn | 7.0 | % |  | 12.0 | %
Soybean meal | 16.0 | % |  | 44.0 | %
Period through which stated percent of needs are covered: |  |  |
Corn | September 2021 |  | December 2020
Soybean meal | May 2021 |  | July 2020
(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 Income on Derivative |  |  |  |  |  |
| Three Months Ended |  |  |  | Six Months Ended |  |
| June 28, 2020 |  | June 30, 2019 |  | June 28, 2020 |  | June 30, 2019
| (In thousands) |  |  |  |  |  |
Foreign currency derivatives | $ | (1,423) |  |  | $ | 1,303 |  |  | $ | 2,700 |  |  | $ | 388 |
Interest rate swap derivatives | (929) |  |  | — |  |  | (929) |  |  | — |
Total | $ | (2,352) |  |  | $ | 1,303 |  |  | $ | 1,771 |  |  | $ | 388 |
| Gain (Loss) Reclassified from AOCI into Income |  |  |  |  |  |
| Three Months Ended |  |  |  | Six Months Ended |  |
| June 28, 2020 |  | June 30, 2019 |  | June 28, 2020 |  | June 30, 2019
| (In thousands) |  |  |  |  |  |
Foreign currency derivatives | $ | 160 |  |  | $ | (48) |  |  | $ | (582) |  |  | $ | 173 |
Interest rate swap derivatives | 2 |  |  | — |  |  | 2 |  |  | — |
Total | $ | 162 |  |  | $ | (48) |  |  | $ | (580) |  |  | $ | 173 |

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- 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=121590274&loc=SL5624171-113959 + Details
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