FAIR VALUE (Tables)

9 Months Ended

Sep. 25, 2021

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:


	September 25, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	952	$	—	$	952
Other assets:
Life insurance policies	—		41,098		—		41,098
Total assets measured at fair value	$	—	$	42,050	$	—	$	42,050

Other current liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	41,124	$	41,124
Other long-term liabilities measured at fair value:
Contingent consideration	—		—		20,205		20,205
Total liabilities measured at fair value	$	—	$	—	$	61,329	$	61,329


	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:


	September 25, 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		520,000		500,000		523,750
3.75% Senior Notes due 2029	500,000		515,000		—		—
4.0% Senior Notes due 2031	500,000		530,600		—		—

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.”


	Nine Months Ended
	September 25, 2021		September 26, 2020
	(in thousands)
Beginning balance	$	2,328	$	712
Additions	72,476		2,131
Payments	(2,889)		(230)
Adjustment of previously recorded contingent liability	(10,360)		(468)
Foreign currency	(226)		75
Ending balance	$	61,329	$	2,220