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Fair Value Measurements (Tables)

3 Months Ended

Mar. 28, 2021

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 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 fair values of certain assets at March 28, 2021 and January 3, 2021:

		At March 28, 2021
						Fair Value Estimated Using
		Carrying Amount				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Cash equivalents		$	194,325			$	194,325			$	—			$	—
Restricted cash equivalents			104,232				104,232				—				—
Investments in marketable securities			13,384				13,384				—				—
Advertising fund cash equivalents, restricted			113,384				113,384				—				—
Investments			82,500				—				—				82,500

		At January 3, 2021
						Fair Value Estimated Using
		Carrying Amount				Level 1 Inputs				Level 2 Inputs				Level 3 Inputs
Cash equivalents		$	151,502			$	151,502			$	—			$	—
Restricted cash equivalents			126,595				126,595				—				—
Investments in marketable securities			13,251				13,251				—				—
Advertising fund cash equivalents, restricted			104,197				104,197				—				—
Investments			40,000				—				—				40,000

Summary of reconciliation of the carrying amount of the Company's investment  in Dash Brands

The following table summarizes the reconciliation of the carrying amount of the Company’s investment in Dash Brands from the opening balance at January 3, 2021 to the closing balance at March 28, 2021.

		First Quarter of 2021
		Carrying Amount												Carrying Amount
		January 3, 2021				Purchases				Unrealized Gain				March 28, 2021
Investments		$	40,000			$	40,000			$	2,500			$	82,500

Schedule of Estimated Fair Value

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:

		March 28, 2021								January 3, 2021
		Principal Amount				Fair Value				Principal Amount				Fair Value
2015 Ten-Year Fixed Rate Notes		$	766,000			$	808,896			$	766,000			$	809,662
2017 Five-Year Fixed Rate Notes			582,000				583,164				582,000				582,582
2017 Ten-Year Fixed Rate Notes			970,000				1,034,020				970,000				1,035,960
2017 Five-Year Floating Rate Notes			291,000				291,291				291,000				291,000
2018 7.5-Year Fixed Rate Notes			415,438				436,625				415,438				437,456
2018 9.25-Year Fixed Rate Notes			391,000				422,671				391,000				422,280
2019 Ten-Year Fixed Rate Notes			668,250				703,667				668,250				712,355

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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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Tabular disclosure of data and information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments.

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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.

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