Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 29, 2024

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands):

	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of June 29, 2024
Financial Assets:
Interest rate swaps	$	—	$	42,922	$	—	$	42,922
Financial Liabilities:
Contingent consideration	$	—	$	—	$	47,580	$	47,580
Foreign exchange derivative contracts	$	—	$	445	$	—	$	445
As of December 30, 2023
Financial Assets:
Interest rate swaps	$	—	$	42,779	$	—	$	42,779
Foreign exchange derivative contracts	$	—	$	29	$	—	$	29
Financial Liabilities:
Contingent consideration	$	—	$	—	$	51,538	$	51,538

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table represents changes in the fair value of the contingent consideration liabilities:

	June 29, 2024
Beginning balance	$	51,538
Payments of contingent consideration	(1,745)
Changes in fair value	(2,213)
Ending balance	$	47,580