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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Derivative Instruments and Cash Collateral Information regarding the Company’s outstanding derivative instruments and cash collateral posted with brokers is included in the following table:
September 28, 2025December 29, 2024
 (In thousands)
Fair values:
Commodity derivative assets$6,129 $6,598 
Commodity derivative liabilities(3,099)(2,494)
Foreign currency derivative assets1,031 755 
Foreign currency derivative liabilities(460)(1,397)
Sales contract derivative assets571 — 
Sales contract derivative liabilities— (778)
Cash collateral posted with brokers(a)
2,761 2,324 
Derivatives coverage(b):
Corn10.6 %11.5 %
Soybean meal7.6 %9.3 %
Period through which stated percent of needs are covered:
CornDecember 2026December 2025
Soybean mealDecember 2026March 2026
(a)Collateral posted with brokers consists primarily of cash, short-term treasury bills or other cash equivalents.
(b)Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.
Schedule of Derivative Gain (Loss)
The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments:
Three Months EndedNine Months Ended
Type of Contract (a)
September 28, 2025September 29, 2024September 28, 2025September 29, 2024Affected Line Item in the Condensed Consolidated Statements of Income
(In thousands)
Commodity derivatives$7,260 $12,612 $(14,744)$(3,582)Cost of sales
Sales contract derivatives(5,527)(3,815)(2,299)(282)Net sales
Total$1,733 $8,797 $(17,043)$(3,864)
(a)Amounts represent income (expenses) related to results of operations.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:
Gains (Losses) Recognized in Other Comprehensive Income (Loss)
Three Months EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
(In thousands)
Foreign currency derivatives$(2,504)$2,301 $(846)$4,301 
Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income
Gains (Losses) Reclassified from AOCI into Income
Three Months Ended September 28, 2025Three Months Ended September 29, 2024
Net sales(a)
Cost of sales(b)
Net sales(a)
Cost of sales(b)
(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded$4,759,342 $4,099,958 $4,584,979 $3,901,009 
Impact from cash flow hedging instruments:
Foreign currency derivatives(734)— 299 (340)
(a)    Amounts represent income (expenses) related to net sales.
(b)    Amounts represent expenses (income) related to cost of sales.
Gains (Losses) Reclassified from AOCI into Income
Nine Months Ended September 28, 2025Nine Months Ended September 29, 2024
Net sales(a)
Cost of sales(b)
Net sales(a)
Cost of sales(b)
(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded$13,979,716 $12,050,164 $13,506,227 $11,746,722 
Impact from cash flow hedging instruments:
Foreign currency derivatives(2,047)(31)2,255 (445)
(a)    Amounts represent income (expenses) related to net sales.
(b)    Amounts represent expenses (income) related to cost of sales.