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Fair Value Measures and Disclosures (Tables) | 3 Months Ended
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Apr. 01, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring | The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 9 of this Report on Form 10-Q for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value.
| Fair Value Measurements at Reporting Date Using
(In thousands): | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | April 1, 2023 | December 31, 2022 |  | April 1, 2023 | December 31, 2022 |  | April 1, 2023 | December 31, 2022 |  | April 1, 2023 | December 31, 2022
Cash and cash equivalents | $ | 707,838 |  | $ | 561,559 |  |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  |  | $ | 707,838 |  | $ | 561,559 |
Restricted cash | 1,194 |  | 1,880 |  |  | — |  | — |  |  | — |  | — |  |  | 1,194 |  | 1,880 |
Derivative financial instruments - Interest rate swap - cash flow hedge | — |  | — |  |  | 33,731 |  | 46,589 |  |  | — |  | — |  |  | 33,731 |  | 46,589 |
Derivative financial instruments -Forward exchange contracts | — |  | — |  |  | 234 |  | 726 |  |  | — |  | — |  |  | 234 |  | 726 |
Total Assets | $ | 709,032 |  | $ | 563,439 |  |  | $ | 33,965 |  | $ | 47,315 |  |  | $ | — |  | $ | — |  |  | $ | 742,997 |  | $ | 610,754 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments - Forward exchange contracts | $ | — |  | $ | — |  |  | $ | 71 |  | $ | 193 |  |  | $ | — |  | $ | — |  |  | $ | 71 |  | $ | 193 |
Total Liabilities | $ | — |  | $ | — |  |  | $ | 71 |  | $ | 193 |  |  | $ | — |  | $ | — |  |  | $ | 71 |  | $ | 193 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The estimated fair value and carrying value of our debt as of April 1, 2023 and December 31, 2022 were as follows:
|  | April 1, 2023 |  | December 31, 2022
(In thousands) |  | Carrying Value | Fair Value |  | Carrying Value | Fair Value
Total debt, net |  | $ | 5,793,755 |  | $ | 5,573,511 |  |  | $ | 5,784,893 |  | $ | 5,428,900 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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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. + Details
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