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FAIR VALUE (Tables) | 6 Months Ended
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Jun. 25, 2022
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 25, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Current assets measured at fair value: | (in thousands)
Cash equivalents | $ | — |  |  | $ | 77 |  |  | $ | — |  |  | $ | 77 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 34,882 |  |  | — |  |  | 34,882 |
Total assets measured at fair value | $ | — |  |  | $ | 34,959 |  |  | $ | — |  |  | $ | 34,959 |
Accrued liabilities measured at fair value: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 9,550 |  |  | $ | 9,550 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | 9,550 |  |  | $ | 9,550 |
| December 25, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Current assets measured at fair value: | (in thousands)
Cash equivalents | $ | — |  |  | $ | 893 |  |  | $ | — |  |  | $ | 893 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 42,918 |  |  | — |  |  | 42,918 |
Total assets measured at fair value | $ | — |  |  | $ | 43,811 |  |  | $ | — |  |  | $ | 43,811 |
Accrued liabilities measured at fair value: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 11,794 |  |  | $ | 11,794 |
Other long-term liabilities measured at fair value: |  |  |  |  |  |  |
Contingent consideration | — |  |  | — |  |  | 25,450 |  |  | 25,450 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | 37,244 |  |  | $ | 37,244 |
The book value and fair value of the Company’s Senior Notes is summarized below:
| June 25, 2022 |  | December 25, 2021
| Book Value |  | Fair Value |  | Book Value |  | Fair Value
4.25% Senior Notes due 2028 | $ | 500,000 |  |  | $ | 453,100 |  |  | $ | 500,000 |  |  | $ | 521,250 |
3.75% Senior Notes due 2029 | 500,000 |  |  | 437,500 |  |  | 500,000 |  |  | 506,700 |
4.0% Senior Notes due 2031 | 500,000 |  |  | 438,100 |  |  | 500,000 |  |  | 507,500 |
Rollforward of Contingent Consideration Related to Previous Acquisitions | The following table provides a rollforward of the contingent consideration related to the Company’s acquisitions.
| Six Months Ended
| June 25, 2022 |  | June 26, 2021
| (in thousands)
Beginning balance | $ | 37,244 |  |  | $ | 2,328 |
Additions | — |  |  | 37,983 |
Payments | (11,476) |  |  | (2,889) |
Total gains or losses (realized/unrealized): |  |  |
Adjustment of previously recorded contingent liability | (15,340) |  |  | — |
Foreign currency translation | (878) |  |  | (115) |
Ending balance | $ | 9,550 |  |  | $ | 37,307 |

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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