XML 37 R23.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 27, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The table below presents the balances of assets and liabilities measured at fair value as of March 27, 2022, December 31, 2021, and March 28, 2021 on a recurring basis as well as the fair values of other financial instruments, including their locations within the unaudited condensed consolidated balance sheets:
(In thousands)Balance Sheet LocationFair Value Hierarchy LevelMarch 27, 2022December 31, 2021March 28, 2021
Carrying ValueFair 
Value		Carrying ValueFair 
Value		Carrying ValueFair 
Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investmentsOther current assetsLevel 1$474 $474 $478 $478 $348 $348 
Interest rate swapsDerivative LiabilityLevel 2$(5,884)$(5,884)$(20,086)$(20,086)$(35,524)$(35,524)
Other financial assets (liabilities):
Term debt
Long-Term Debt (1)
Level 2$(264,250)$(260,286)$(264,250)$(257,644)$(264,250)$(257,644)
2024 senior notes
Long-Term Debt (1)
Level 1— — — — $(450,000)$(454,500)
2025 senior notes
Long-Term Debt (1)
Level 2$(1,000,000)$(1,015,000)$(1,000,000)$(1,035,000)$(1,000,000)$(1,043,750)
2027 senior notes
Long-Term Debt (1)
Level 1$(500,000)$(493,750)$(500,000)$(513,750)$(500,000)$(513,125)
2028 senior notes
Long-Term Debt (1)
Level 1 (2)
$(300,000)$(304,500)$(300,000)$(319,125)$(300,000)$(321,375)
2029 senior notes
Long-Term Debt (1)
Level 1$(500,000)$(486,250)$(500,000)$(513,750)$(500,000)$(510,625)
(1)Carrying values of long-term debt balances are before reductions for debt issuance costs and original issue discount of $42.2 million, $45.3 million and $56.8 million as of March 27, 2022, December 31, 2021 and March 28, 2021, respectively.
(2)The 2028 senior notes were based on Level 1 inputs as of March 27, 2022 and December 31, 2021, and Level 2 inputs as of March 28, 2021.