FAIR VALUE (Tables)

3 Months Ended

Apr. 01, 2023

Assets and liabilities measured at fair value on a recurring basis are summarized below:


	April 1, 2023
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	78	$	—	$	78
Other assets:
Life insurance policies	—		36,202		—		36,202
Total assets measured at fair value	$	—	$	36,280	$	—	$	36,280

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	10,543	$	10,543
Other long-term liabilities measured at fair value:
Interest rate swap	—		2,925		—		2,925
Total liabilities measured at fair value	$	—	$	2,925	$	10,543	$	13,468


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	78	$	—	$	78
Other assets:
Life insurance policies	—		34,527		—		34,527
Total assets measured at fair value	$	—	$	34,605	$	—	$	34,605

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	13,431	$	13,431
Other long-term liabilities measured at fair value:
Interest rate swap	—		1,523		—		1,523
Total liabilities measured at fair value	$	—	$	1,523	$	13,431	$	14,954

The book value and fair value of the Company’s Senior Notes is summarized below:

The following table provides a rollforward of the contingent consideration related to the Company’s acquisitions.


	Three Months Ended
	April 1, 2023		March 26, 2022
	(in thousands)
Beginning balance	$	13,431	$	37,244

Payments	(2,711)		(3,301)
Total gains or losses (realized/unrealized):
Adjustment of previously recorded contingent liability	—		(3,450)
Foreign currency translation	(177)		(334)
Ending balance	$	10,543	$	30,159