FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Assets and Liabilities Measured on a Recurring Basis

The following items were measured at fair value on a recurring basis:



	December 31, 2017
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	301		$	—	$	—	$	301
Commodity options instruments	421			—		—		421
Foreign currency instruments	45			—		—		45
Fair value liabilities:
Commodity futures instruments	(296		)	—		—		(296		)
Commodity options instruments	(3,551		)	—		—		(3,551		)
Foreign currency instruments	(211		)	—		—		(211		)



	December 25, 2016
	Level 1			Level 2		Level 3		Total
	(In thousands)
Fair value assets:
Commodity futures instruments	$	5,341		$	—	$	—	$	5,341
Commodity options instruments	98			—		—		98
Foreign currency instruments	516			—		—		516
Fair value liabilities:
Commodity futures instruments	(4,063		)	—		—		(4,063		)
Commodity option instruments	(2,764		)	—		—		(2,764		)
Foreign currency instruments	(153		)	—		—		(153		)

Schedule of Carrying Amounts and Estimated Fair Values of Fixed-Rate Debt Obligation

The carrying amounts and estimated fair values of our fixed-rate debt obligation recorded in the Consolidated and Combined Balance Sheets consisted of the following:



	December 31, 2017						December 25, 2016
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
				(In thousands)
Fixed-rate senior notes payable at 5.75%, at Level 1 inputs	$	(750,000	)	$	(774,375	)	$	(500,000	)	$	(503,395	)
Fixed-rate senior notes payable at 5.875%, at Level 1 inputs	(604,820		)	(619,080		)	—			—
Fixed-rate senior notes payable at 6.25%, at Level 1 inputs	(403,444		)	(418,787		)	(369,736		)	(389,709		)
Chattel Mortgages, at Level 3 inputs	(873		)	(855		)	(1,432		)	(1,379		)