XML 46 R36.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of March 30, 2024 and December 30, 2023, the fair values of the Company's derivative financial instrument and their classifications on the Condensed Consolidated Balance Sheets were as follows:


(in thousands)		Condensed Consolidated Balance Sheet ClassificationMarch 30, 2024December 30, 2023
Derivatives designated as hedging instruments
Interest rate swap agreement:
Designated as cash flow hedgePrepaid expenses and other current assets$3,952 $3,712 
Other long-term assets$4,434 $2,140 
Schedule of Derivative Instruments Pre-tax Gains
The pre-tax gains recognized on derivative financial instruments in the Condensed Consolidated Statements of Net Income for the three months ended March 30, 2024 and April 1, 2023 were as follows:
Three Months Ended
(in thousands)Classification of Gain Recognized in the Condensed Consolidated Statements of Net IncomeMarch 30, 2024April 1, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreementInterest expense$(1,280)$(975)
Derivatives not designated as hedging instruments
Foreign exchange forward contractForeign exchange gain$— $(819)
The pre-tax (gains) recognized on derivative financial instruments in the Condensed Consolidated Statements of Comprehensive Income for the three months ended March 30, 2024 and April 1, 2023 was as follows:
 Three Months Ended
(in thousands)March 30, 2024April 1, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreement$(2,534)$(5,366)
Schedule of Fair Value, Assets Measured on Recurring Basis
The following table presents assets measured at fair value by classification within the fair value hierarchy as of March 30, 2024:
 
 Fair Value Measurements Using 
(in thousands)Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Cash equivalents$452,453 $— $— $452,453 
Investments in equity securities10,178 — — 10,178 
Mutual funds21,509 — — 21,509 
   Total $484,140 $— $— $484,140 


The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 30, 2023: 
 Fair Value Measurements Using 
(in thousands)Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Cash equivalents$415,788 $— $— $415,788 
Investments in equity securities10,832 — — 10,832 
Mutual funds20,148 — — 20,148 
   Total$446,768 $— $— $446,768 
Schedule of Fair Value, by Balance Sheet Grouping
The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series A and Series B and USD Senior Notes, Series A and Series B, as of March 30, 2024 and December 30, 2023 were as follows:

 March 30, 2024December 30, 2023
(in thousands)Carrying
Value		Estimated
Fair Value		Carrying
Value		Estimated
Fair Value
Euro Senior Notes, Series B due 2028$102,458 $93,470 $105,246 $96,532 
USD Senior Notes, Series B due 2027100,000 95,654 100,000 96,127 
USD Senior Notes, Series A due 202550,000 49,203 50,000 49,070 
USD Senior Notes, Series B due 2030125,000 114,269 125,000 115,687 
USD Senior Notes, due 2032100,000 91,365 100,000 93,228