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Fair Value Measurements (Tables)

3 Months Ended

Mar. 28, 2020

Fair Value Measurements

Summary of carrying values and fair values of our revolving credit loans, term loans and senior notes

The carrying values and fair values of our revolving credit loans, term loans and senior notes as of March 28, 2020 and December 28, 2019 were as follows (in thousands):


			March 28, 2020						December 28, 2019
		Carrying Value			Fair Value			Carrying Value			Fair Value
Revolving credit loans		$	100,000		$	100,000	⁽¹⁾	$	—		$	—
Tranche B term loans due 2026			446,766	⁽²⁾		402,089	⁽³⁾		447,820	⁽²⁾		451,179	⁽³⁾
5.25% senior notes due 2025			902,697	⁽⁴⁾		884,643	⁽³⁾		902,832	⁽⁴⁾		929,917	⁽³⁾
5.25% senior notes due 2027		$	550,000		$	530,750	⁽³⁾	$	550,000		$	550,000	⁽³⁾

(1)	Fair values are estimated based on Level 2 inputs, which were quoted prices for identical or similar instruments in markets that are not active.

(2)	The carrying value of the tranche B term loans includes a discount. At March 28, 2020 and December 28, 2019, the face amount of the tranche B term loans was $448.9 million and $450.0 million, respectively.

(3)	Fair values are estimated based on quoted market prices.

(4)	The carrying values of the 5.25% senior notes due 2025 include a premium. At March 28, 2020 and December 28, 2019, the face amount of the 5.25% senior notes due 2025 was $900.0 million.