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Commodity Derivative Instruments (Tables)
 3 Months Ended
Apr. 01, 2022
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 condensed consolidated statements of operations:
First Quarter
(in thousands)20222021
Cost of sales$7,494 $288 
Selling, delivery and administrative expenses6,225 560 
Total gain$13,719 $848 
Summary of Fair Values and Classification in Condensed 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 condensed consolidated balance sheets:

(in thousands)April 1, 2022December 31, 2021
Prepaid expenses and other current assets$21,433 $7,714 
Total assets$21,433 $7,714 
Summary of Gross Derivative Assets and Gross Commodity Derivative Assets and Liabilities in Condensed Consolidated Balance Sheets
The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets:

(in thousands)April 1, 2022December 31, 2021
Gross commodity derivative instrument assets$24,911 $9,200 
Gross commodity derivative instrument liabilities3,478 1,486 
Summary of Outstanding Commodity Derivative Instruments
The following table summarizes the Company’s outstanding commodity derivative instruments:

(in thousands)April 1, 2022December 31, 2021
Notional amount of outstanding commodity derivative instruments$53,346 $74,558 
Latest maturity date of outstanding commodity derivative instrumentsDecember 2022December 2022