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Fair Value
 9 Months Ended
Sep. 27, 2024
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Assets and liabilities measured at fair value on a recurring basis and fair value measurement level were as follows (in thousands):
Level   September 27,
2024		December 29,
2023
Assets
Cash surrender value of life insurance2$25,040 $22,255 
Liabilities
Contingent consideration3$600 $1,375 
Deferred compensation27,772 6,445 
Forward exchange contracts222 422 
Total liabilities at fair value$8,394 $8,242 

Contracts insuring the lives of certain employees who are eligible to participate in certain non-qualified pension and deferred compensation plans are held in trust. Cash surrender value of the contracts is based on performance measurement funds that shadow the deferral investment allocations made by participants in certain deferred
compensation plans. The deferred compensation liability balances are valued based on amounts allocated by participants to the underlying performance measurement funds.

Contingent consideration liabilities represent the estimated value (using a probability-weighted expected return approach) of future payments to be made to previous owners of certain acquired businesses based on future revenues.

The fair value of variable rate borrowings approximates carrying value. The Company uses significant other observable inputs to estimate fair value (level 2 of the fair value hierarchy) based on the present value of future cash flows and rates that would be available for issuance of debt with similar terms and remaining maturities.