Fair Value Measurements

9 Months Ended

Sep. 24, 2024

Fair Value Measurements

Fair Value Measurements

(10) Fair Value Measurements

At September 24, 2024 and December 26, 2023, the fair values of cash and cash equivalents, accounts receivable, and accounts payable approximated their carrying values based on the short-term nature of these instruments. There were no transfers among levels within the fair value hierarchy during the 13 and 39 weeks ended September 24, 2024.

The following table presents the fair values for our financial assets and liabilities measured on a recurring basis:

	Fair Value Measurements
	Level	September 24, 2024		December 26, 2023
Deferred compensation plan—assets	1	$	96,994	$	81,316
Deferred compensation plan—liabilities	1	$	(96,994)	$	(81,222)

We report the accounts of the deferred compensation plan in other assets and the corresponding liability in other liabilities in our unaudited condensed consolidated balance sheets. These investments are considered trading securities and are reported at fair value based on quoted market prices. The realized and unrealized holding gains and losses related to these investments, as well as the offsetting compensation expense, are recorded in general and administrative expense in the unaudited condensed consolidated statements of income.