DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 27, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

Fair value of derivative instruments at March 27, 2021 and December 26, 2020 are as follows:

Derivatives designated as hedging instruments:	Balance sheet location	March 27, 2021	December 26, 2020
Commodity forward contracts	Prepaid expenses and other assets	9,946	—
Foreign currency forward contracts	Prepaid expenses and other assets	19	$	724
Cross currency swap contracts	Prepaid expenses and other assets	1,311	600
Cross currency swap contracts	Accrued expenses	(2,427)	(7,235)
		8,849	(5,911)

Gains (losses) on derivatives recognized on statements of earnings

Gains (losses) on derivatives recognized in the condensed consolidated statements of earnings for the thirteen weeks ended March 27, 2021 and March 28, 2020 are as follows:

		Thirteen weeks ended
	Statements of earnings location	March 27, 2021		March 28, 2020
Foreign currency forward contracts	Other income	(218)		123
Foreign currency forward contracts	Product sales	—		53
Interest rate hedge amortization	Interest expense	(16)		(16)
Cross currency swap contracts	Interest expense	711		743
		$	477	$	903

Schedule of notional amounts of outstanding derivative

Key terms of the two CCS are as follows:

Currency	Notional Amount		Termination Date	Swapped Interest Rate	Set 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