XML 31 R23.htm IDEA: XBRL DOCUMENT v3.22.1
Long-Term Debt (Tables)
3 Months Ended
Mar. 30, 2022
Debt Disclosure [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):

March 30, 2022

December 29, 2021

    

Notional

    

Fair value

    

Notional

    

Fair value

Other assets - Interest rate swap

$

40,000

$

307

Other liabilities - Interest rate swap

$

$

$

40,000

$

396

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):

    

March 30, 2022

    

March 31, 2021

Interest expense on hedged portion of debt

$

143

$

200

Interest expense on interest rate swap

 

117

 

78

Interest expense on debt and derivatives, net

$

260

$

278

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 weeks ended March 30, 2022 and March 31, 2021 (in thousands):

Gain (Loss) Reclassified from

Net Gain (Loss) Recognized in OCI

AOCI into Interest expense

    

March 30, 2022

March 31, 2021

March 30, 2022

March 31, 2021

    

Interest rate swap

$

584

$

78

$

117

$

115