FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 28, 2021

Schedule of Assets and Liabilities Measured on a Recurring Basis

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


	March 28, 2021				December 27, 2020
	Level 1		Total		Level 1		Total
	(In thousands)
Assets:
Commodity futures instruments	$	4,171	$	4,171	$	13,285	$	13,285
Commodity options instruments	1,903		1,903		10,774		10,774
Foreign currency instruments	2,410		2,410		2,204		2,204
Liabilities:
Commodity futures instruments	(5,153)		(5,153)		(4,496)		(4,496)
Commodity options instruments	(8,710)		(8,710)		(2,035)		(2,035)
Foreign currency instruments	(7,180)		(7,180)		(428)		(428)
Interest rate swap instrument	(538)		(538)		(640)		(640)
Sales contract instruments	(18,104)		(18,104)		—		—

Schedule of Fair Value and Carrying Value of Debt Obligations

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


	March 28, 2021				December 27, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Fixed-rate senior notes payable at 5.75%, at Level 2 inputs	$	(1,001,592)	$	(1,021,700)	$	(1,001,693)	$	(1,024,510)
Fixed-rate senior notes payable at 5.875%, at Level 2 inputs	(845,329)		(901,000)		(845,149)		(911,957)
Secured loans, at Level 3 inputs	(32)		(32)		(38)		(38)