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Fair Value Measurement (Tables)
9 Months Ended
Sep. 24, 2021
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the condensed consolidated statements of operations were as follows:
As of September 24, 2021
As of December 25, 2020
Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Assets
Notes receivable, net $5,410 $5,454 $5,115 $5,494 
Liabilities
Initial Term Loan$284,316 $283,249 $286,508 $267,169 
Incremental Term Loan$167,301 $167,092 $386,100 $384,652 
Level 3 Measurement Valuation
Fair value at
September 24, 2021
Valuation Technique
Unobservable
Input
Volatility
Contingent Value Rights $5,200Monte CarloVolatility
50 -55%
The fair values of the stock options were derived using the following key assumptions:
Time-based OptionsMarket-based Options
Expected term
3.1-7.0 years
2.5 years
Risk-free rate of return
0.4 -1.0%
0.6 %
Expected dividend yield— %— %
Expected volatility45 %45 %
CRV Reconciliation
Changes in the CVRs for the nine months ended September 24, 2021, and September 25, 2020 were as follows:

September 24,
2021
September 25,
2020
CVR fair value – beginning of period
$4,000 $3,200 
Fair value adjustments
$1,200 $300 
CVR fair value – end of period
$5,200 $3,500