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Fair Value Measures and Disclosures (Tables)
 3 Months Ended
Mar. 30, 2024
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 7 of this Quarterly 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:March 30, 2024December 31, 2023March 30, 2024December 31, 2023March 30, 2024December 31, 2023March 30, 2024December 31, 2023
Cash and cash equivalents$340,682 $456,929 $— $— $— $— $340,682 $456,929 
Derivative financial instruments - Interest rate swap - cash flow hedge— — 22,683 24,069 — — 22,683 24,069 
Total$340,682 $456,929 $22,683 $24,069 $— $— $363,365 $480,998 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The estimated fair value and carrying value of our debt as of March 30, 2024 and December 31, 2023 were as follows:
March 30, 2024December 31, 2023
(In thousands)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$4,172,942 $4,094,694 $4,577,141 $4,536,238