Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 29, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value of the Company’s interest rate swaps as well as their classification on the Company’s Consolidated Balance Sheets as of the periods indicated:

(dollars in thousands)	DECEMBER 29, 2019		DECEMBER 30, 2018		CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - asset (1)	$	—	$	765	Other current assets, net
Interest rate swaps - liability	$	7,174	$	1,393	Accrued and other current liabilities
Interest rate swaps - liability	16,835		9,723		Other long-term liabilities, net
Total fair value of derivative instruments - liabilities (1)	$	24,009	$	11,116
Interest receivable	$	—	$	112	Other current assets, net
Accrued interest	$	632	$	—	Accrued and other current liabilities

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(1)    See Note 18 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Schedule of derivatives instruments statements of financial performance and financial position, location

The following table summarizes the effects of the swap agreements on Net income for the periods indicated:

	FISCAL YEAR
(dollars in thousands)	2019			2018			2017
Interest rate swap expense recognized in Interest expense, net	$	(2,436	)	$	(161	)	$	(3,908	)
Income tax benefit recognized in Provision (benefit) for income taxes	631			41			1,527
Total effects of the interest rate swaps on Net income	$	(1,805	)	$	(120	)	$	(2,381	)