Long-Term Debt (Tables)

6 Months Ended

Jun. 29, 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):

	June 29, 2022				December 29, 2021
	Notional		Fair value		Notional		Fair value
Other assets - Interest rate swap	$	40,000	$	706		—		—
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):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	June 29, 2022		June 30, 2021		June 29, 2022		June 30, 2021
Interest expense on hedged portion of debt	$	204	$	136	$	347		336
Interest expense on interest rate swap		55		119		172		234
Interest expense on debt and derivatives, net	$	259	$	255	$	519	$	570

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 twenty-six weeks ended June 29, 2022 and June 30, 2021 (in thousands):

	Thirteen Weeks Ended								Twenty-Six Weeks Ended
					Loss Reclassified from								Loss Reclassified from
	Net Gain (Loss) Recognized in OCI				AOCI into Interest expense				Net Gain Recognized in OCI				AOCI into Interest expense
	June 29, 2022		June 30, 2021		June 29, 2022		June 30, 2021		June 29, 2022			June 30, 2021	June 29, 2022			June 30, 2021
Interest rate swap	$	347	$	(2)	$	55	$	119	$	931	$	76	$	172	$	234