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Fair Value Measures and Disclosures (Tables)
 3 Months Ended
Apr. 01, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 9 of this Report on Form 10-Q for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value.
Fair Value Measurements at Reporting Date Using
(In thousands):Level 1Level 2Level 3Total
Assets:April 1, 2023December 31, 2022April 1, 2023December 31, 2022April 1, 2023December 31, 2022April 1, 2023December 31, 2022
Cash and cash equivalents$707,838 $561,559 $— $— $— $— $707,838 $561,559 
Restricted cash1,194 1,880 — — — — 1,194 1,880 
Derivative financial instruments - Interest rate swap - cash flow hedge— — 33,731 46,589 — — 33,731 46,589 
Derivative financial instruments -Forward exchange contracts— — 234 726 — — 234 726 
Total Assets$709,032 $563,439 $33,965 $47,315 $— $— $742,997 $610,754 
Liabilities:
Derivative financial instruments - Forward exchange contracts$— $— $71 $193 $— $— $71 $193 
Total Liabilities$— $— $71 $193 $— $— $71 $193 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The estimated fair value and carrying value of our debt as of April 1, 2023 and December 31, 2022 were as follows:
April 1, 2023December 31, 2022
(In thousands)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$5,793,755 $5,573,511 $5,784,893 $5,428,900