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Fair Value Measurements (Tables)
12 Months Ended
Jan. 02, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for the Company’s financial assets and liabilities measured at fair value on a recurring basis as of January 2, 2022 and January 3, 2021:

 

January 2, 2022

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

$

 

 

$

250,000

 

 

$

 

 

$

250,000

 

Interest rate swap liability

 

 

 

 

 

5,107

 

 

 

 

 

 

5,107

 

Total liabilities

 

$

 

 

$

255,107

 

 

$

 

 

$

255,107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 3, 2021

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

$

 

 

$

250,000

 

 

$

 

 

$

250,000

 

Interest rate swap liability

 

 

 

 

 

11,451

 

 

 

 

 

 

11,451

 

Total liabilities

 

$

 

 

$

261,451

 

 

$

 

 

$

261,451