Long-Term Debt (Tables)

9 Months Ended

Sep. 29, 2021

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 29, 2021				December 30, 2020
	Notional		Fair value		Notional		Fair value
Other liabilities - Interest rate swap	$	40,000	$	729	$	40,000	$	1,139

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 29, 2021		September 23, 2020		September 29, 2021		September 23, 2020
Interest expense on hedged portion of debt	$	97	$	169	$	433		810
Interest expense on interest rate swap		133		114		367		156
Interest expense on debt and derivatives, net	$	230	$	283	$	800	$	966

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 29, 2021 and September 23, 2020 (in thousands):

	Thirteen Weeks Ended								Thirty-Nine Weeks Ended
					Loss Reclassified from								Loss Reclassified from
	Net Loss Recognized in OCI				AOCI into Interest expense				Net Gain (Loss) Recognized in OCI				AOCI into Interest expense
	September 29, 2021		September 23, 2020		September 29, 2021		September 23, 2020		September 29, 2021			September 23, 2020	September 29, 2021			September 23, 2020
Interest rate swap	$	(32)	$	(36)	$	133	$	114	$	44	$	(1,791)	$	367	$	156