Commitments and Contingencies (Tables)

3 Months Ended

Apr. 02, 2017

Commitments And Contingencies Disclosure [Abstract]

Summary of Company's Purchases from Manufacturing Cooperatives

The Company has an equity ownership in both SAC and Southeastern. The following table summarizes the Company’s purchases from these manufacturing cooperatives:

	First Quarter
(in thousands)	2017		2016
Purchases from SAC	$	33,634	$	33,222
Purchases from Southeastern		23,336		16,968
Total purchases from manufacturing cooperatives	$	56,970	$	50,190

Summary of Guaranteed Debt and Maximum Exposure under Guarantees

The amounts guaranteed were as follows:

(in thousands)	April 2, 2017		January 1, 2017
Guaranteed portion of debt - SAC	$	17,947	$	23,297
Guaranteed portion of debt - Southeastern		10,184		9,277
Total guaranteed portion of debt - manufacturing cooperatives	$	28,131	$	32,574

The following table summarizes the Company’s maximum exposure under these guarantees if these cooperatives had borrowed up to their aggregate borrowing capacity:

	April 2, 2017
(in thousands)	South Atlantic Canners, Inc.		Southeastern Container		Total Manufacturing Cooperatives
Maximum guaranteed debt	$	23,938	$	25,251	$	49,189
Equity investments⁽¹⁾		4,102		17,768		21,870
Maximum total exposure, including equity investments	$	28,040	$	43,019	$	71,059

⁽¹⁾

Recorded in other assets on the Company’s consolidated balance sheets.