Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Pre-Tax Changes in Fair Value

The following table summarizes pre-tax changes in the fair values of the Company’s commodity derivative instruments and the classification of such changes in the consolidated statements of operations:

	Fiscal Year
(in thousands)	2020		2019		2018
Cost of sales	$	1,996	$	6,602	$	(10,376)
Selling, delivery and administrative expenses	791		3,536		(4,349)
Total gain (loss)	$	2,787	$	10,138	$	(14,725)

Summary of Fair Values and Classification in Consolidated Balance Sheets of Derivative Instruments

The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the consolidated balance sheets:

(in thousands)	December 31, 2020		December 29, 2019
Assets:
Prepaid expenses and other current assets	$	2,417	$	1,007
Other assets	56		—
Total assets	$	2,473	$	1,007
Liabilities:
Other accrued liabilities	$	—	$	1,174
Total liabilities	$	—	$	1,174

Summary of Gross Derivative Assets and Gross Derivative Liabilities in Consolidated Balance Sheets

The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the consolidated balance sheets:

(in thousands)	December 31, 2020		December 29, 2019
Gross commodity derivative instrument assets	$	2,473	$	3,298
Gross commodity derivative instrument liabilities	—		3,465

Summary of Outstanding Commodity Derivative Agreements

The following table summarizes the Company’s outstanding commodity derivative instruments:

(in thousands)	December 31, 2020		December 29, 2019
Notional amount of outstanding commodity derivative instruments	$	23,030	$	171,699
Latest maturity date of outstanding commodity derivative instruments	December 2021		December 2020