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LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 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 consolidated balance sheet (in thousands):

December 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 consolidated statements of income (in thousands):

    

December 28, 2022

    

December 29, 2021

December 30, 2020

    

Interest expense on hedged portion of debt

$

439

$

568

$

979

Interest (income) expense on interest rate swap

 

(296)

 

486

278

 

Interest (income) expense on debt and derivatives, net

$

143

$

1,054

$

1,257

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 years ended December 28, 2022, December 29, 2021 and December 30, 2020 (in thousands):

(Gain) Loss Reclassified from

Net Gain (Loss) Recognized in OCI

AOCI into Interest (Income) Expense

 

December 28, 2022

 

December 29, 2021

 

December 30, 2020

 

December 28, 2022

 

December 29, 2021

December 30, 2020

 

Interest rate swap

$

862

$

257

$

(1,762)

$

(296)

$

486

$

278