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Fair Value Measurements (Tables)
6 Months Ended
Jun. 16, 2024
Fair Value Disclosures [Abstract]  
Carrying Amounts and Fair Values of Certain Assets

The following tables summarize the carrying amounts and fair values of certain assets at June 16, 2024 and December 31, 2023:

 

 

 

At June 16, 2024

 

 

 

 

 

 

Fair Value Estimated Using

 

 

 

Carrying

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

Amount

 

 

Inputs

 

 

Inputs

 

 

Inputs

 

Cash equivalents

 

$

231,511

 

 

$

231,511

 

 

$

—

 

 

$

—

 

Restricted cash equivalents

 

 

132,579

 

 

 

132,579

 

 

 

—

 

 

 

—

 

Investments in marketable securities

 

 

19,063

 

 

 

19,063

 

 

 

—

 

 

 

—

 

Advertising fund cash equivalents, restricted

 

 

56,881

 

 

 

56,881

 

 

 

—

 

 

 

—

 

Investment in DPC Dash

 

 

136,252

 

 

 

136,252

 

 

 

—

 

 

 

—

 

 

 

 

At December 31, 2023

 

 

 

 

 

 

Fair Value Estimated Using

 

 

 

Carrying

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

Amount

 

 

Inputs

 

 

Inputs

 

 

Inputs

 

Cash equivalents

 

$

50,732

 

 

$

50,732

 

 

$

—

 

 

$

—

 

Restricted cash equivalents

 

 

133,063

 

 

 

133,063

 

 

 

—

 

 

 

—

 

Investments in marketable securities

 

 

16,720

 

 

 

16,720

 

 

 

—

 

 

 

—

 

Advertising fund cash equivalents, restricted

 

 

69,199

 

 

 

69,199

 

 

 

—

 

 

 

—

 

Investment in DPC Dash

 

 

143,553

 

 

 

143,553

 

 

 

—

 

 

 

—

 

Schedule of Estimated Fair Value

Management estimated the approximate fair values of the Company’s 2015, 2017, 2018, 2019 and 2021 notes as follows:

 

 

June 16, 2024

 

 

December 31, 2023

 

 

 

Principal Amount

 

 

Fair Value

 

 

Principal Amount

 

 

Fair Value

 

2015 Ten-Year Notes

 

$

742,000

 

 

$

727,902

 

 

$

744,000

 

 

$

727,632

 

2017 Ten-Year Notes

 

 

940,000

 

 

 

899,580

 

 

 

942,500

 

 

 

895,375

 

2018 7.5-Year Notes

 

 

402,688

 

 

 

393,023

 

 

 

403,750

 

 

 

392,041

 

2018 9.25-Year Notes

 

 

379,000

 

 

 

365,735

 

 

 

380,000

 

 

 

365,180

 

2019 Ten-Year Notes

 

 

648,000

 

 

 

592,920

 

 

 

649,688

 

 

 

591,865

 

2021 7.5-Year Notes

 

 

826,625

 

 

 

735,696

 

 

 

828,750

 

 

 

730,958

 

2021 Ten-Year Notes

 

 

972,500

 

 

 

840,240

 

 

 

975,000

 

 

 

830,700