XML 38 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Derivative Financial Instruments
12 Months Ended
Dec. 28, 2011
Derivative Financial Instruments [Abstract]  
Derivative Financial Instruments
Note 12.     Derivative Financial Instruments

We may choose to utilize derivative financial instruments to manage our exposure to interest rate risk and commodity risk in relation to natural gas costs. We do not enter into derivative instruments for trading or speculative purposes. The gains (losses) recognized in our Consolidated Statements of Income as a result of the interest rate swap and natural gas hedge contracts were as follows:

  Fiscal Year Ended 
   
December 28, 2011
   
December 29, 2010
   
December 30, 2009
 
   
(In thousands)
 
Realized gains (losses):
              
Interest rate swap - included as a component of
interest expense
 
$
-
   
$
-
   
$
(3,930
)
Natural gas contracts - included as a component
of utility expense, which is included in other
operating expenses
 
$
-
   
$
-
   
$
(1,484
)
                         
Unrealized gains (losses) included as a component
of nonoperating expense:
                       
Interest rate swap
 
$
-
   
$
(167
)
 
$
2,241
 
Natural gas contracts
 
$
-
   
$
-
   
$
811
 
 
The interest rate swap gains (losses) relate to the interest rate swap we entered into in 2007 to effectively fix the interest rate on a portion of our floating rate debt. Part of notational amount of the interest rate swap was terminated in 2008 and the remainder was terminated in 2009. The natural gas contract gains (losses) related to a contract entered into during 2009 in order to limit our exposure to price increases. As of December 28, 2011 and December 29, 2010, there were no derivative instruments included in the Consolidated Balance Sheets.