Fair Value of Financial Instruments (Tables)

3 Months Ended

Apr. 03, 2016

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

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

	Apr. 3, 2016						Jan. 3, 2016						Mar. 29, 2015
	Carrying			Fair			Carrying			Fair			Carrying			Fair
In Thousands	Amount			Value			Amount			Value			Amount			Value
Public debt securities	$	(620,036	)	$	(658,200	)	$	(619,628	)	$	(645,400	)	$	(371,696	)	$	(406,500	)
Non-public variable rate debt		(140,000	)		(140,000	)		0			0			(153,000	)		(153,000	)
Deferred compensation plan assets		21,407			21,407			20,755			20,755			19,720			19,720
Deferred compensation plan liabilities		(21,407	)		(21,407	)		(20,755	)		(20,755	)		(19,720	)		(19,720	)
Commodity hedging agreements-assets		70			70			3			3			643			643
Commodity hedging agreements-liabilities		(2,470	)		(2,470	)		(3,442	)		(3,442	)		0			0
Acquisition related contingent consideration		(177,933	)		(177,933	)		(136,750	)		(136,750	)		(98,505	)		(98,505	)

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:

	Apr. 3, 2016						Jan. 3, 2016						Mar. 29, 2015
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	$	21,407					$	20,755					$	19,720
Commodity hedging agreements			$	70					$	3					$	643
Liabilities
Deferred compensation plan liabilities		21,407						20,755						19,720
Commodity hedging agreements				2,470						3,442						0
Acquisition related contingent consideration					$	177,933					$	136,570					$	98,505

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:

	First Quarter
In Thousands	2016			2015
Opening balance	$	136,570		$	46,850
Increase due to acquisitions		31,171			47,283
Payments/accruals		(6,959	)		(717	)
Fair value adjustment - (income) expense		17,151			5,089
Ending balance	$	177,933		$	98,505