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Fair Value Measurements (Tables)

8 Months Ended

Sep. 06, 2020

Fair Value Disclosures [Abstract]

Carrying Amounts and Fair Values of Certain Assets

The fair values of the Company’s cash equivalents and investments in marketable securities are based on quoted prices in active markets for identical assets. The fair value of the Company’s Level 3 investment (Note 9) is not readily determinable. The fair value represents its cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairments. The following tables summarize the carrying amounts and estimated fair values of certain assets at September 6, 2020 and December 29, 2019:

		At September 6, 2020
						Fair Value Estimated Using
		Carrying Amount				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Cash equivalents		$	276,905			$	276,905			$	—			$	—
Restricted cash equivalents			102,763				102,763				—				—
Investments in marketable securities			12,043				12,043				—				—
Advertising fund cash equivalents, restricted			97,190				97,190				—				—
Investments (Note 9)			40,000				—				—				40,000

		At December 29, 2019
						Fair Value Estimated Using
		Carrying Amount				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Cash equivalents		$	180,459			$	180,459			$	—			$	—
Restricted cash equivalents			126,963				126,963				—				—
Investments in marketable securities			11,982				11,982				—				—
Advertising fund cash equivalents, restricted			67,851				67,851				—				—

Schedule of Estimated Fair Value

Company management estimated the approximate fair values of the 2015 fixed rate notes, the 2017 fixed and floating rate notes, the 2018 fixed rate notes and the 2019 fixed rate notes as follows:

		September 6, 2020								December 29, 2019
		Principal Amount				Fair Value				Principal Amount				Fair Value
2015 Ten-Year Fixed Rate Notes		$	768,000			$	821,760			$	774,000			$	804,960
2017 Five-Year Fixed Rate Notes			583,500				585,251				588,000				588,588
2017 Ten-Year Fixed Rate Notes			972,500				1,046,410				980,000				1,017,240
2017 Five-Year Floating Rate Notes			291,750				291,458				294,000				294,000
2018 7.5-Year Fixed Rate Notes			416,500				443,156				419,688				431,439
2018 9.25-Year Fixed Rate Notes			392,000				425,320				395,000				414,355
2019 Ten-Year Fixed Rate Notes			669,938				706,114				675,000				675,675

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

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