Note 15 - Fair Values of Financial Instruments

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Fair Value Disclosures [Text Block]

Note 15 —    Fair Values of Financial Instruments

The following methods were used to estimate the fair value of all financial instruments recognized in the accompanying balance sheets at amounts other than fair values.

Cash and Cash Equivalents and Time Deposits

Fair values of cash and cash equivalents approximate cost due to the short period of time to maturity.

Notes Payable and Long-term Debt

The Company believes the carrying value of long-term debt, including the current portion of long-term debt, adequately reflects the fair value of these instruments.

The following table presents estimated fair values of the Company’s financial instruments in accordance with FASB ASC 825 at December 31, 2022 and December 25, 2021.

			Fair Value Measurements Using
2022 In Thousands	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets
Cash and cash equivalents	$	3,967	$	3,967	$	-	$	-
Financial liabilities
Current portion of long-term debt	$	7,143	$	-	$	7,143	$	-
Long-term debt	$	87,738	$	-	$	87,738	$	-

			Fair Value Measurements Using
2021 In Thousands	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets
Cash and cash equivalents	$	4,374	$	4,374	$	-	$	-
Financial liabilities
Current portion of long-term debt	$	7,143	$	-	$	7,143	$	-
Long-term debt	$	50,396	$	-	$	50,396	$	-