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RESTRICTED CASH AND INVESTMENTS
 12 Months Ended
Dec. 28, 2025
Restricted Cash and Investments [Abstract]  
RESTRICTED CASH AND INVESTMENTS RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTS
The following is a summary of the carrying value of our restricted cash, cash equivalents and investments:
(in thousands)December 28,
2025		December 29,
2024
Cash collateral held by insurance carriers$7,681 $22,387 
Cash and cash equivalents held in Trust11,424 15,406 
Investments held in Trust70,601 99,506 
Company-owned life insurance policies46,477 41,846 
Other restricted cash and cash equivalents405 771 
Total restricted cash, cash equivalents and investments$136,588 $179,916 
Held-to-maturity
Restricted cash, cash equivalents and investments include collateral that has been provided or pledged to insurance carriers for workers’ compensation and state workers’ compensation programs. Our insurance carriers and certain state workers’ compensation programs require us to collateralize a portion of our workers’ compensation obligation. The collateral typically takes the form of cash and cash equivalents and highly rated investment grade securities, primarily in debt and asset-backed securities. The majority of our collateral obligations are held in a Trust.
The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of December 28, 2025 and December 29, 2024, were as follows:
December 28, 2025
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Municipal debt securities$7,840 $1 $(5)$7,836 
Corporate debt securities49,967 519 (152)50,334 
Agency mortgage-backed securities4,815 58 — 4,873 
U.S. government and agency securities7,979 1 (7)7,973 
Total held-to-maturity investments$70,601 $579 $(164)$71,016 
December 29, 2024
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Municipal debt securities$22,490 $— $(135)$22,355 
Corporate debt securities64,313 144 (945)63,512 
Agency mortgage-backed securities11,703 68 (17)11,754 
U.S. government and agency securities1,000 — (29)971 
Total held-to-maturity investments$99,506 $212 $(1,126)$98,592 
The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows:
December 28, 2025
(in thousands)Amortized costFair value
Due in one year or less$42,323 $42,250 
Due after one year through five years28,278 28,766 
Total held-to-maturity investments$70,601 $71,016 
Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty. We have no significant concentrations of counterparties in our held-to-maturity investment portfolio.
Deferred compensation investments and company-owned life insurance policies
We hold company-owned life insurance policies to support our deferred compensation liability. The unrealized gains and losses related to investments still held at December 28, 2025, December 29, 2024 and December 31, 2023, included in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows:
(in thousands)202520242023
Unrealized gains, net
$4,931 $4,940 $4,383