Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 27, 2015

Debt, Deferred Compensation Plan Assets and Liabilities, Acquisition Related Contingent Consideration and Derivative Financial Instruments

The carrying amounts and fair values of the Company's debt, deferred compensation plan assets and liabilities, acquisition related contingent consideration and derivative financial instruments were as follows:

	Sept. 27, 2015						Dec. 28, 2014						Sept. 28, 2014
	Carrying			Fair			Carrying			Fair			Carrying			Fair
In Thousands	Amount			Value			Amount			Value			Amount			Value
Public debt securities	$	(273,912	)	$	(294,200	)	$	(373,759	)	$	(404,400	)	$	(373,709	)	$	(406,800	)
Non-public variable rate debt		(275,000	)		(275,000	)		(71,000	)		(71,000	)		(70,000	)		(70,000	)
Deferred compensation plan assets		19,660			19,660			18,580			18,580			18,015			18,015
Deferred compensation plan liabilities		(19,660	)		(19,660	)		(18,580	)		(18,580	)		(18,015	)		(18,015	)
Commodity hedging agreements-assets		39			39			0			0			552			552
Commodity hedging agreements-liabilities		(2,275	)		(2,275	)		0			0			0			0
Acquisition related contingent consideration		(93,064	)		(93,064	)		(46,850	)		(46,850	)		(13,000	)		(13,000	)

Deferred Compensation Plan, Commodity Hedging Agreements and Acquisition Related Contingent Consideration

The following table summarizes, by assets and liabilities, the valuation of the Company’s deferred compensation plan, commodity hedging agreements and acquisition related contingent consideration:

	Sept. 27, 2015						Dec. 28, 2014						Sept. 28, 2014
In Thousands	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Deferred compensation plan assets	$	19,660					$	18,580					$	18,015
Commodity hedging agreements			$	39					$	0					$	552
Liabilities
Deferred compensation plan liabilities		19,660						18,580						18,015
Commodity hedging agreements				2,275						0						0
Acquisition related contingent consideration					$	93,064					$	46,850					$	13,000

Summary of Reconciliation of Acquisition Related Contingent Consideration

The acquisition related contingent consideration is the Company’s only Level 3 asset or liability. A reconciliation of the activity is as follows:

	Third Quarter					First Nine Months
In Thousands	2015			2014		2015			2014
Opening balance	$	94,068		$	13,000	$	46,850		$	0
Increase due to acquisitions		0			0		50,312			13,000
Decrease due to measurement period adjustments		(3,371	)		0		(3,371	)		0
Payments/accruals		(1,625	)		0		(3,730	)		0
Fair value adjustment - (income) expense		3,992			0		3,003			0
Ending balance	$	93,064		$	13,000	$	93,064		$	13,000