XML 104 R55.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Hedging Transactions and Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Reconciliation of Company's Derivatives by Contract Type Set forth below is a reconciliation of the Company’s derivatives by contract type for the periods indicated:
(in millions of U.S. dollars)
December 28, 2019
 
December 29, 2018
Derivative Contract
Assets
 
Liabilities
 
Assets
 
Liabilities
Coffee futures 1
$
8.6

 
$
—

 
$
—

 
$
(10.9
)

$
8.6

 
$
—

 
$
—

 
$
(10.9
)
______________________
1
The fair value of the coffee futures excludes amounts in the related margin accounts. We are required to maintain margin accounts in accordance with futures market and broker regulations. As of December 28, 2019 and December 29, 2018, the aggregate margin account balances were $6.4 million and $12.9 million, respectively and are included in cash and cash equivalents on the Consolidated Balance Sheets.
Summary of Fair Value of Coffee Futures Assets and Liabilities The fair value of the coffee futures assets and liabilities which are shown on a net basis are reconciled in the table below:
(in millions of U.S. dollars)
December 28, 2019
 
December 29, 2018
Coffee futures assets
$
12.1

 
$
0.1

Coffee futures liabilities
(3.5
)
 
(11.0
)
Net asset (liability)
$
8.6

 
$
(10.9
)
Summary of Income and Expense Line Items Presented in Consolidated Statements of Operations
The location and amount of gains or losses recognized in the Consolidated Statements of Operations for cash flow hedging relationships, presented on a pre-tax basis, for the years ended December 28, 2019 and December 29, 2018, respectively, is shown in the table below:

For the Year Ended

December 28, 2019
 
December 29, 2018
(in millions of U.S. dollars)
Cost of Sales
Total amounts of income and expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
$
1,166.7

 
$
1,197.3

Loss on cash flow hedging relationship

 

Coffee futures:

 

Loss reclassified from AOCI into income/expense
$
8.0

 
$
6.2