Long-Term Debt (Tables)

9 Months Ended

Sep. 28, 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):

	September 28, 2022				December 29, 2021
	Notional		Fair value		Notional		Fair value
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				Thirty-Nine Weeks Ended
	September 28, 2022		September 29, 2021		September 28, 2022		September 29, 2021
Interest expense on hedged portion of debt	$	92	$	97	$	439		433
Interest (income) expense on interest rate swap		(369)		133		(197)		367
Interest (income) expense on debt and derivatives, net	$	(277)	$	230	$	242	$	800

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 28, 2022 and September 29, 2021 (in thousands):

	Thirteen Weeks Ended								Thirty-Nine Weeks Ended
					Loss Reclassified from								Loss Reclassified from
	Net Gain (Loss) Recognized in OCI				AOCI into Interest (Income) Expense				Net Gain Recognized in OCI				AOCI into Interest (Income) Expense
	September 28, 2022		September 29, 2021		September 28, 2022		September 29, 2021		September 28, 2022			September 29, 2021	September 28, 2022			September 29, 2021
Interest rate swap	$	43	$	(32)	$	(369)	$	133	$	974	$	44	$	(197)	$	367