Fair Value Measurements (Tables)

3 Months Ended

Mar. 28, 2020

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Condensed Balance Sheets as of March 28, 2020 and December 28, 2019:



	March 28, 2020		December 28, 2019		Fair Value Hierarchy Level
Liabilities:
Interest rate swaps (1)	$	2,590	$	1,653	Level 2

(1)

The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows:



	March 28, 2020				December 28, 2019
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	$	19	$	19	$	769	$	769
Financial liabilities:
Long-term debt, including current portion	70,060		69,986		68,868		72,115
Finance leases, including current portion	20,552		21,671		19,483		20,361
Operating leases, including current portion	24,547		24,547		25,295		25,295
Interest rate swaps	2,590		2,590		1,653		1,653