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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 25, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | Fair value of derivative instruments at December 25, 2021 and December 26, 2020 are as follows:
Derivatives designated as hedging instruments: | Balance sheet location |  | December 25, 2021 |  | December 26, 2020 |  |
Commodity forward contracts | Accrued expenses |  | $ | (5,802) |  |  | $ | — |  |  |
Foreign currency forward contracts | Prepaid expenses and other assets |  | 149 |  |  | 724 |  |  |
Foreign currency forward contracts | Accrued expenses |  | (118) |  |  | — |  |  |
Cross currency swap contracts | Prepaid expenses and other assets |  | 1,764 |  |  | 600 |  |  |
Cross currency swap contracts | Accrued expenses |  | — |  |  | (7,235) |  |  |
|  |  | $ | (4,007) |  |  | $ | (5,911) |  |  |
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings | Gains (losses) on derivatives recognized in the consolidated statements of earnings for the years ended December 25, 2021, December 26, 2020, and December 28, 2019 are as follows:
Derivatives designated as hedging instruments: | Statements of earnings location |  | 2021 |  | 2020 |  | 2019 |  |  |  |
Commodity forward contracts | Product cost of sales |  | $ | 25,821 |  |  | $ | — |  |  | $ | (2,130) |  |  |  |  |
Foreign currency forward contracts | Product Sales |  | — |  |  | 1,598 |  |  | — |  |  |  |  |
Foreign currency forward contracts | Other income (expense) |  | (40) |  |  | 187 |  |  | 950 |  |  |  |  |
Interest rate contracts | Interest expense |  | (64) |  |  | (64) |  |  | (64) |  |  |  |  |
Cross currency swap contracts | Interest expense |  | 2,780 |  |  | 2,738 |  |  | 2,823 |  |  |  |  |
|  |  | $ | 28,497 |  |  | $ | 4,459 |  |  | $ | 1,579 |  |  |  |  |
Schedule of notional amounts of outstanding derivative | Key terms of the two CCS are as follows:
Currency |  | Notional Amount |  | Termination Date |  | Swapped Interest Rate |  | Net Settlement Amount
Danish Krone (DKK) |  | $ | 50,000 |  |  | April 1, 2024 |  | 2.68% |  | DKK 333,625
Euro |  | $ | 80,000 |  |  | April 1, 2024 |  | 2.825% |  | €71,550

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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