XML 48 R31.htm IDEA: XBRL DOCUMENT v3.20.2
FAIR VALUE (Tables)
 6 Months Ended
Jun. 27, 2020
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized below:
 June 27, 2020
Level 1Level 2Level 3Total
(in thousands)
Cash equivalents$—  $89,453  $—  $89,453  
Other assets:
Life insurance policies—  28,169  —  28,169  
Total assets measured at fair value$—  $117,622  $—  $117,622  
Other current liabilities measured at fair value:
Contingent consideration$—  $—  $2,142  $2,142  
Total liabilities measured at fair value$—  $—  $2,142  $2,142  
 December 28, 2019
Level 1Level 2Level 3Total
(in thousands)
Cash equivalents$—  $55,278  $—  $55,278  
Other assets:
Life insurance policies—  30,454  —  30,454  
Total assets measured at fair value$—  $85,732  $—  $85,732  
Other current liabilities measured at fair value:
Contingent consideration$—  $—  $712  $712  
Foreign currency forward contract—  876  —  876  
Total liabilities measured at fair value$—  $876  $712  $1,588  
The book value and fair value of the Company’s 2026 and 2028 Senior Notes is summarized below:
June 27, 2020December 28, 2019
Book ValueFair ValueBook ValueFair Value
2026 Senior Notes$500,000  $521,850  $500,000  $537,500  
2028 Senior Notes500,000  497,500  500,000  510,000  
Rollforward of Contingent Consideration Related to Previous Acquisitions
The following table provides a rollforward of the contingent consideration related to previous business acquisitions. See Note 2, “Business Combinations.”
Six Months Ended
June 27, 2020June 29, 2019
(in thousands)
Beginning balance$712  $3,033  
Additions2,131  2,869  
Payments(230) (5,252) 
Adjustment of previously recorded contingent liability(468) —  
Foreign currency(3) 69  
Ending balance$2,142  $719