Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 29, 2020

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 and classification of the Company’s swap agreements, as of the periods indicated:

(dollars in thousands)	MARCH 29, 2020		DECEMBER 29, 2019		CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - liability	$	13,335	$	7,174	Accrued and other current liabilities
Interest rate swaps - liability	26,758		16,835		Other long-term liabilities, net
Total fair value of derivative instruments - liabilities (1)	$	40,093	$	24,009
Accrued interest	$	679	$	632	Accrued and other current liabilities

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(1)

See Note 15 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Schedule of derivatives instruments statements of financial performance, location

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

	THIRTEEN WEEKS ENDED
(dollars in thousands)	MARCH 29, 2020			MARCH 31, 2019
Interest rate swap (expense) income recognized in Interest expense, net	$	(1,880	)	$	491
Income tax benefit (expense) recognized in Provision for income taxes	484			(127		)
Total effects of the interest rate swaps on Net (loss) income	$	(1,396	)	$	364