Fair Value Measures and Disclosures (Tables)

3 Months Ended

Mar. 30, 2025

Fair Value Measurements, Recurring and Nonrecurring

The following table presents the carrying values and estimated fair values, including the level within the fair value hierarchy, of certain financial instruments:


	March 30, 2025						December 29, 2024
	Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)		Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)
	(in thousands)
Assets:
Company-owned life insurance	$	22,948	$	—	$	22,948	$	22,911	$	—	$	22,911
Deferred compensation investments	28,476		7,263		21,213		30,521		8,697		21,824

Liabilities(1):
Borrowings under Syndicated Credit Facility(2)	5,505		—		5,505		5,564		—		5,564
5.50% Senior Notes due 2028(3)	300,000		—		292,140		300,000		—		294,738

(1) Carrying values are presented gross, excluding the impact of unamortized debt issuance costs and including amounts presented as current liabilities on the consolidated balance sheets.

(2) The carrying value of borrowings under the Facility approximates fair value as the Facility bears variable interest rates that are similar to existing market rates. The fair value of borrowings under the Facility is estimated using observable market rates.

(3) Unamortized debt issuance costs associated with the Senior Notes, recorded as a reduction of long-term debt in the consolidated balance sheets, were $2.6 million and $2.8 million as of March 30, 2025 and December 29, 2024, respectively. Fair value of the Senior Notes is derived using quoted prices for similar instruments.