Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Net Fair Value of Commodity Price Risk

As of December 31, 2016, the company’s commodity hedge portfolio contained derivatives which are recorded in the following accounts with fair values measured as indicated (amounts in thousands):

	Level 1			Level 2		Level 3		Total
Assets:
Other current	$	1,576		$	—	$	—	$	1,576
Other long-term		35			—		—		35
Total	$	1,611		$	—	$	—	$	1,611
Liabilities:
Other current	$	(2,435	)	$	—	$	—	$	(2,435	)
Other long-term		—			—		—		—
Total		(2,435	)		—		—		(2,435	)
Net Fair Value	$	(824	)	$	—	$	—	$	(824	)

As of January 2, 2016, the company’s commodity hedge portfolio contained derivatives which are recorded in the following accounts with fair values measured as indicated (amounts in thousands):

	Level 1			Level 2			Level 3		Total
Liabilities:
Other current	$	(11,926	)	$	(2,941	)	$	—	$	(14,867	)
Other long-term		(20	)		—			—		(20	)
Net Fair Value	$	(11,946	)	$	(2,941	)	$	—	$	(14,887	)

Derivative Held for Hedging the Risk of Changes in Forecasted Interest Payments on Issuance of Long-term Debt

The following table outlines the company’s derivatives which were hedging the risk of changes in forecasted interest payments on forecasted issuance of long-term debt (amounts in thousands, before tax, and an asset is a positive value and a liability is a negative value):

Terminated	Description	Aggregate Notional Amount		Fair Value When Terminated			Fair Value Deferred in AOCI (1)			Ineffective Portion at Termination
April/2012	Treasury lock	$	500,000	$	(3,137	)	$	2,510		$	627
September/2016	Treasury lock	$	200,000	$	1,298		$	(1,298	)	$	—
September/2016	Treasury lock	$	150,000	$	(323	)	$	215		$	108

(1) The amount reported in AOCI will be reclassified to interest expense as interest payments are made on the related notes.

Derivative Instruments Recorded on Consolidated Balance Sheet

The company had the following derivative instruments recorded on the Consolidated Balance Sheet, all of which are utilized for the risk management purposes detailed above (amounts in thousands):

	Derivative Assets
	December 31, 2016			January 2, 2016
Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Other current assets	$	1,576	Other current assets	$	—
Commodity contracts	Other long-term assets		35	Other long-term assets		—
Total		$	1,611		$	—

	Derivative Liabilities
	December 31, 2016			January 2, 2016
Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Other current liabilities	$	2,435	Other current liabilities	$	14,867
Commodity contracts	Other long-term liabilities		—	Other long-term liabilities		20
Total		$	2,435		$	14,887

Effect of Derivative Instruments for Deferred Gains And (Losses) on Closed Contracts and Effective Portion in Fair Value on AOCI, Utilized for Risk Management Purposes (Detail)

The company had the following derivative instruments for deferred gains and (losses) on closed contracts and the effective portion for changes in fair value recorded in AOCI (no amounts were excluded from the effectiveness test), all of which are utilized for the risk management purposes detailed above (amounts in thousands and net of tax):

	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)(Net of tax)
Derivatives in Cash Flow Hedging Relationships	Fiscal 2016		Fiscal 2015			Fiscal 2014
Interest rate contracts	$	666	$	—		$	—
Commodity contracts		5,064		(4,195	)		(3,358	)
Total	$	5,730	$	(4,195	)	$	(3,358	)

	Amount of (Gain) or Loss Reclassified from Accumulated OCI into Income (Effective Portion)(Net of tax)						Locationof (Gain) or Loss Reclassified from AOCI into Income
Derivatives in Cash Flow Hedging Relationships	Fiscal 2016		Fiscal 2015		Fiscal 2014		(Effective Portion)
Interest rate contracts	$	135	$	154	$	157	Interest expense (income)
Commodity contracts		3,264		5,259		3,209	Production costs (1)
Total	$	3,399	$	5,413	$	3,366

1. Included in Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately).

Accumulated Other Comprehensive Loss (Income) Related to Derivative Transactions

The balance in accumulated other comprehensive loss (income) related to commodity price risk and interest rate risk derivative transactions that are closed or will expire over the next three years are as follows (amounts in thousands and net of tax) at December 31, 2016:

	Commodity Price Risk Derivatives			Interest Rate Risk Derivatives		Totals
Closed contracts	$	392		$	163	$	555
Expiring in 2017		528			—		528
Expiring in 2018 and beyond		(22	)		—		(22	)
Total	$	898		$	163	$	1,061

Financial Contracts Hedging Commodity Risks

As of December 31, 2016, the company had entered into the following financial contracts to hedge commodity risks (amounts in thousands):

Derivatives in Cash Flow Hedging Relationships	Notional amount
Wheat contracts	$	26,353
Soybean oil contracts		2,834
Natural gas contracts		3,347
Total	$	32,534