FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 30, 2014

Schedule of Assets and Liabilities Measured on a Recurring Basis

	March 30, 2014
	Level 1			Level 2		Level 3		Total
	(In thousands)
Short-term investments in available-for-sale securities	$	-		$	37,005	$	-	$	37,005
Derivative assets - commodity futures instruments		1,478			-		-		1,478
Derivative assets - commodity options instruments		-			1,698		-		1,698
Deferred compensation plan assets		6,874			-		-		6,874
Derivative liabilities - commodity futures instruments		(5,427	)		-		-		(5,427	)
Derivative liabilities - foreign currency instruments		(1,212	)		-		-		(1,212	)
Long-term debt and other borrowing arrangements:
Public bonds and notes		543,512			-		-		543,512
Term notes		-			-		215,182		215,182
Capitalized lease obligations		-			-		668		668

	December 29, 2013
	Level 1			Level 2		Level 3		Total
	(In thousands)
Short-term investments in available-for-sale securities	$	-		$	96,902	$	-	$	96,902
Derivative assets - commodity futures instruments		1,494			-		-		1,494
Derivative assets - commodity options instruments		-			1,395		-		1,395
Derivative assets - foreign currency instruments		1,214			-		-		1,214
Deferred compensation plan assets		7,208			-		-		7,208
Derivative liabilities - commodity futures instruments		(1,728	)		-		-		(1,728	)

Long-term debt and other borrowing arrangements:
Public bonds and notes		552,592			-		-		552,592
Term notes		-			-		424,650		424,650
Capitalized lease obligations		-			-		704		704

Schedule of Change in Value of Level 3 Liabilities

	Thirteen Weeks Ended
	Term Notes and Revolver						Capitalized Lease Obligations
	March 30, 2014			March 31, 2013			March 30, 2014			March 31, 2013
Change in Value of Level 3 Liabilities:	(In thousands)
Balance, beginning of period	$	424,650		$	686,435		$	704		$	880
Borrowings		-			292,400			-			-
Payments		(204,880	)		(314,874	)		(33	)		(30	)
Change in fair value inputs		(4,588	)		(14,795	)		(3	)		(8	)
Balance, end of period	$	215,182		$	649,166		$	668		$	842

Schedule of Carrying Amounts and Estimated Fair Values of Financial Assets and Liabilities

	March 30, 2014						December 29, 2013
	Carrying			Fair			Carrying			Fair			Note
	Amount			Value			Amount			Value			Reference
	(In thousands)
Short-term investments in available-for-sale securities	$	37,005		$	37,005		$	96,902		$	96,902		5
Derivative assets - commodity futures instruments		1,478			1,478			1,494			1,494		6
Derivative assets - commodity options instruments		1,698			1,698			1,395			1,395		6
Derivative assets - foreign currency instruments		-			-			1,214			1,214		6
Deferred compensation plan assets		6,874			6,874			7,208			7,208
Derivative liabilities - commodity futures instruments		(5,427	)		(5,427	)		(1,728	)		(1,728	)	6
Derivative liabilities - foreign currency instruments		(1,212	)		(1,212	)		-			-		6
Long-term debt and other borrowing arrangements		(707,434	)		(759,362	)		(912,233	)		(977,946	)	9

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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