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Financial Instruments and Risk Management (Tables) | 9 Months Ended
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Jun. 23, 2012
Financial Instruments and Risk Management [Abstract] |
Fair value of the Partnership's derivative instruments and their location in the condensed consolidated balance | The following summarizes the gross fair value of the Partnership's derivative instruments and their location in the condensed consolidated balance sheet as of June 23, 2012 and September 24, 2011, respectively:
|  | As of June 23, 2012 |  |  | As of September 24, 2011 |
Asset Derivatives |  | Location |  | Fair Value |  |  | Location |  | Fair Value |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Commodity options |  | Other current assets |  | $ | 7,263 |  |  | Other current assets |  | $ | 3,710 |
|  | Other assets |  |  | - |  |  | Other assets |  |  | 612 |
Commodity futures |  | Other current assets |  |  | 1,952 |  |  | Other current assets |  |  | 1,132 |
|  |  |  | $ | 9,215 |  |  |  |  | $ | 5,454 |
Liability Derivatives |  | Location |  | Fair Value |  |  | Location |  | Fair Value |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Other current liabilities |  | $ | 2,646 |  |  | Other current liabilities |  | $ | 2,662 |
|  | Other liabilities |  |  | 2,176 |  |  | Other liabilities |  |  | 1,934 |
|  |  |  | $ | 4,822 |  |  |  |  | $ | 4,596 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Commodity options |  | Other current liabilities |  | $ | 1,338 |  |  | Other current liabilities |  | $ | 2,407 |
|  | Other liabilities |  |  | - |  |  | Other liabilities |  |  | 69 |
|  |  |  | $ | 1,338 |  |  |  |  | $ | 2,476 |
Reconciliation of the beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs | The following summarizes the reconciliation of the beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs:
|  | Fair Value Measurement Using Significant Unobservable Inputs (Level 3) |
|  | Nine Months Ended June 23, 2012 |  |  | Nine Months Ended June 25, 2011 |
|  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Opening balance of over-the-counter options |  | $ | 1,780 |  |  | $ | 118 |  |  | $ | 1,509 |  |  | $ | 29 |
Beginning balance realized during the period |  |  | (758 | ) |  |  | (15 | ) |  |  | (1,509 | ) |  |  | (29 | )
Contracts purchased during the period |  |  | 3,245 |  |  |  | 259 |  |  |  | 2,778 |  |  |  | 226 |
Change in the fair value of beginning balance |  |  | 2,678 |  |  |  | 669 |  |  |  | - |  |  |  | - |
Closing balance of over-the-counter options |  | $ | 6,945 |  |  | $ | 1,031 |  |  | $ | 2,778 |  |  | $ | 226 |
Effect of the Partnership's derivative instruments on the condensed consolidated statements of operations | The effect of the Partnership's derivative instruments on the condensed consolidated statements of operations for the three and nine months ended June 23, 2012 and June 25, 2011 are as follows:
|  | Three months ended June 23, 2012 |  |  | Three months ended June 25, 2011 |
Derivatives in Cash Flow Hedging |  | Gains (Losses) Recognized in OCI |  |  | Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion) |  |  | Gains (Losses) Recognized in OCI |  |  | Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion) |
Relationships |  | (Effective Portion) |  |  | Location |  |  | Amount |  |  | (Effective Portion) |  |  | Location |  |  | Amount |
Interest rate swap |  | $ | (1,856 | ) |  |  | Interest expense |  |  | $ | (670 | ) |  | $ | (1,077 | ) |  |  | Interest expense |  |  | $ | (719 | )
|  | $ | (1,856 | ) |  |  |  |  |  | $ | (670 | ) |  | $ | (1,077 | ) |  |  |  |  |  | $ | (719 | )
Derivatives Not Designated as Hedging Instruments |  | Location of Gains (Losses) Recognized in Income |  | Amount of Unrealized Gains (Losses) Recognized in Income |  |  | Location of Gains (Losses) Recognized in Income |  | Amount of Unrealized Gains (Losses) Recognized in Income |
Commodity options |  | Cost of products sold |  | $ | 6,465 |  |  | Cost of products sold |  | $ | (516 | )
Commodity futures |  | Cost of products sold |  |  | 1,753 |  |  | Cost of products sold |  |  | 203 |
|  |  |  | $ | 8,218 |  |  |  |  | $ | (313 | )
|  | Nine months ended June 23, 2012 |  |  | Nine months ended June 25, 2011 |
Derivatives in Cash Flow Hedging |  | Gains (Losses) Recognized in OCI |  |  | Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion) |  |  | Gains (Losses) Recognized in OCI |  |  | Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion) |
Relationships |  | (Effective Portion) |  |  | Location |  | Amount |  |  | (Effective Portion) |  |  | Location |  | Amount |
Interest rate swap |  | $ | (2,234 | ) |  | Interest expense |  | $ | (2,008 | ) |  | $ | (851 | ) |  | Interest expense |  | $ | (2,147 | )
|  | $ | (2,234 | ) |  |  |  | $ | (2,008 | ) |  | $ | (851 | ) |  |  |  | $ | (2,147 | )
Derivatives Not Designated as Hedging Instruments |  | Location of Gains (Losses) Recognized in Income |  | Amount of Unrealized Gains (Losses) Recognized in Income |  |  | Location of Gains (Losses) Recognized in Income |  | Amount of Unrealized Gains (Losses) Recognized in Income |
Commodity options |  | Cost of products sold |  | $ | 6,350 |  |  | Cost of products sold |  | $ | 283 |
Commodity futures |  | Cost of products sold |  |  | 820 |  |  | Cost of products sold |  |  | 1,954 |
|  |  |  | $ | 7,170 |  |  |  |  | $ | 2,237 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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, 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, issuances, 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 asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5618551-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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