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FAIR VALUE (Tables) | 3 Months Ended
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Mar. 27, 2021
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:
| March 27, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Cash equivalents | $ | — |  |  | $ | 6,172 |  |  | $ | — |  |  | $ | 6,172 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 38,250 |  |  | — |  |  | 38,250 |
Total assets measured at fair value | $ | — |  |  | $ | 44,422 |  |  | $ | — |  |  | $ | 44,422 |
Other liabilities measured at fair value: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 33,163 |  |  | $ | 33,163 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | 33,163 |  |  | $ | 33,163 |
| December 26, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Cash equivalents | $ | — |  |  | $ | 2,273 |  |  | $ | — |  |  | $ | 2,273 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 35,770 |  |  | — |  |  | 35,770 |
Total assets measured at fair value | $ | — |  |  | $ | 38,043 |  |  | $ | — |  |  | $ | 38,043 |
Other liabilities measured at fair value: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 2,328 |  |  | $ | 2,328 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | 2,328 |  |  | $ | 2,328 |
The book value and fair value of the Company’s Senior Notes is summarized below:
| March 27, 2021 |  | December 26, 2020
| Book Value |  | Fair Value |  | Book Value |  | Fair Value
5.5% Senior Notes due 2026 | $ | — |  |  | $ | — |  |  | $ | 500,000 |  |  | $ | 523,100 |
4.25% Senior Notes due 2028 | 500,000 |  |  | 513,750 |  |  | 500,000 |  |  | 523,750 |
3.75% Senior Notes due 2029 | 500,000 |  |  | 501,250 |  |  | — |  |  | — |
4.0% Senior Notes due 2031 | 500,000 |  |  | 504,350 |  |  | — |  |  | — |
Rollforward of Contingent Consideration Related to Previous Acquisitions | The following table provides a rollforward of the contingent consideration related to the Company’s business combinations. See Note 2, “Business Combinations.”
| Three Months Ended
| March 27, 2021 |  | March 28, 2020
| (in thousands)
Beginning balance | $ | 2,328 |  |  | $ | 712 |
Additions | 29,990 |  |  | 2,131 |
Fair value adjustments | 917 |  |  | — |
Payments | — |  |  | (218) |
Foreign currency | (72) |  |  | (62) |
Ending balance | $ | 33,163 |  |  | $ | 2,563 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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