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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 27, 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:
| September 27, 2020 |  | December 29, 2019
| (In thousands)
Fair values: |  |  |
Commodity derivative assets | $ | 12,639 |  |  | $ | 5,053 |
Commodity derivative liabilities | (6,079) |  |  | (5,430) |
Foreign currency derivative assets | 7,919 |  |  | 426 |
Foreign currency derivative liabilities | (316) |  |  | (5,400) |
Interest rate swap derivative liabilities | (780) |  |  | — |
Cash collateral posted with brokers(a) | 17,106 |  |  | 20,009 |
Derivatives coverage(b): |  |  |
Corn | — | % |  | 12.0 | %
Soybean meal | 17.0 | % |  | 44.0 | %
Period through which stated percent of needs are covered: |  |  |
Corn | NA |  | December 2020
Soybean meal | July 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 |  | Nine Months Ended
| September 27, 2020 |  | September 29, 2019 |  | September 27, 2020 |  | September 29, 2019
| (In thousands)
Foreign currency derivatives | $ | 1,388 |  |  | $ | (1,644) |  |  | $ | 4,088 |  |  | $ | (1,257) |
Interest rate swap derivatives | 50 |  |  | — |  |  | (879) |  |  | — |
Total | $ | 1,438 |  |  | $ | (1,644) |  |  | $ | 3,209 |  |  | $ | (1,257) |
| Gain (Loss) Reclassified from AOCI into Income
| Three Months Ended |  | Nine Months Ended
| September 27, 2020 |  | September 29, 2019 |  | September 27, 2020 |  | September 29, 2019
| (In thousands)
Foreign currency derivatives | $ | 1,720 |  |  | $ | 247 |  |  | $ | 1,138 |  |  | $ | 74 |
Interest rate swap derivatives | (101) |  |  | — |  |  | (99) |  |  | — |
Total | $ | 1,619 |  |  | $ | 247 |  |  | $ | 1,039 |  |  | $ | 74 |

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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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- 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=121590274&loc=SL5624163-113959 + Details
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