Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 30, 2018

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 value of the Company’s commodity derivative financial instruments and the classification of such changes in the consolidated statements of operations.

		Fiscal Year
(in thousands)	Classification of Gain (Loss)	2018			2017		2016
Commodity hedges	Cost of sales	$	(10,376	)	$	2,815	$	2,896
Commodity hedges	Selling, delivery and administrative expenses		(4,349	)		315		1,832
Total gain (loss)		$	(14,725	)	$	3,130	$	4,728

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

The following table summarizes the fair values and classification in the consolidated balance sheets of derivative instruments held by the Company:

(in thousands)	Balance Sheet Classification	December 30, 2018		December 31, 2017
Assets:
Commodity hedges at fair market value	Prepaid expenses and other current assets	$	-	$	4,420
Total assets		$	-	$	4,420
Liabilities:
Commodity hedges at fair market value	Other accrued liabilities	$	10,305	$	-
Total liabilities		$	10,305	$	-

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

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

(in thousands)	December 30, 2018		December 31, 2017
Gross derivative assets	$	28,305	$	4,481
Gross derivative liabilities		38,610		61

Summary of Outstanding Commodity Derivative Agreements

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

(in thousands)	December 30, 2018		December 31, 2017
Notional amount of outstanding commodity derivative agreements	$	168,388	$	59,564
Latest maturity date of outstanding commodity derivative agreements	December 2019		December 2018