Long-Term Debt (Tables)

9 Months Ended

Sep. 23, 2020

Derivative Instruments and Hedging Activities [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table shows the financial statement line item and amount of the Company’s cash flow hedge accounting on the condensed consolidated balance sheets (in thousands):

	September 23, 2020				December 25, 2019
	Notional		Fair value		Notional		Fair value
Other assets - Interest rate swap		—		—	$	40,000	$	360
Other liabilities - Interest rate swap	$	40,000	$	1,328		—		—

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table summarizes the effect of the Company’s cash flow hedge accounting on the condensed consolidated statements of income (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	September 23, 2020		September 25, 2019		September 23, 2020		September 25, 2019
Interest expense on hedged portion of debt	$	169		122	$	810		122
Interest expense (income) on interest rate swap		114		(29)		156		(29)
Interest expense on debt and derivatives, net	$	283	$	93	$	966	$	93

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table summarizes the effect of the Company’s cash flow hedge accounting on AOCI for the thirteen and thirty-nine weeks ended September 23, 2020 and September 25, 2019 (in thousands):

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
				Loss (Gain) Reclassified from						Loss (Gain) Reclassified from
	Net (Loss) Gain Recognized in OCI			AOCI into Interest expense			Net (Loss) Gain Recognized in OCI			AOCI into Interest expense
	September 23, 2020		September 25, 2019	September 23, 2020		September 25, 2019	September 23, 2020		September 25, 2019	September 23, 2020		September 25, 2019
Interest rate swap	$	(36)	171	$	114	(29)	$	(1,791)	171	$	156	(29)