Financial Instruments (Tables)

6 Months Ended

Jul. 01, 2023

Notes To Financial Statements [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the company’s fair value of interest rate swaps (in thousands):

	Condensed Consolidated Balance Sheet Presentation	Jul 1, 2023		Dec 31, 2022
Fair value	Prepaid expense and other	$	7,286	$	6,805
Fair value	Other assets	$	54,850	$	58,180

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The impact on earnings from interest rate swaps was as follows (in thousands):

		Three Months Ended				Six Months Ended
	Presentation of Gain/(loss)	Jul 1, 2023		Jul 2, 2022		Jul 1, 2023		Jul 2, 2022
Gain/(loss) recognized in accumulated other comprehensive income	Other comprehensive income	$	16,657	$	7,195	$	12,435	$	45,242
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	Interest expense	$	8,275	$	(3,856)	$	15,284	$	(7,817)