Derivative Financial Instruments |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 29, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Financial Instruments | Note 4. Derivative Financial Instruments The Company enters into derivative instruments to mitigate the impact of commodity price volatility. Such instruments may include call options on commodity price contracts. Realized and unrealized gains and losses on the Company’s commodity derivatives not designated as hedging instruments are recorded in other expense, net. The Company recognizes all derivative instruments as either assets or liabilities. The following table presents the aggregated outstanding notional amounts related to the Company’s derivative financial instruments for the periods presented:
For the 13-week periods ended June 29, 2025 and June 30, 2024, the pre-tax amount of commodity contract derivative losses recognized in other expense, net was $391 and $87, respectively. For the 26-week periods ended June 29, 2025 and June 30, 2024, the pre-tax amount of commodity contract derivative losses recognized in other expense, net was $822 and $387, respectively. The fair value and location of all outstanding derivative financial instruments are included in “Fair Value Measurements” in Note 5 below. |
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