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INVESTMENTS | 9 Months Ended
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Oct. 05, 2025
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS Fixed income debt securities The Company launched an investment portfolio consisting of fixed income debt securities in the current year, which was funded with cash and cash equivalents on hand. These investments, which may be sold prior to their contractual maturity, are designated as available-for-sale and are carried at fair value. The difference between amortized cost, net of any credit loss allowances, and fair value is reflected as a component of accumulated other comprehensive income, net of tax. Fixed income debt securities are presented within investments at fair value on the accompanying unaudited condensed consolidated balance sheet. Note Receivable During the forty weeks ended October 5, 2025, the Company made a $5.0 million investment in a convertible promissory note of Hyphen Technologies, Inc. (the “Note Receivable”), which develops and provides automated makelines designed to improve the speed and efficiency of food production. The Company intends to test this technology in its digital business. The Company is committed to make an additional investment of $5.0 million upon the achievement of a predefined milestone event. This contingent investment will be made in the form of a convertible promissory note at terms that are substantially similar to the Note Receivable. The Note Receivable is presented within other long-term assets on the accompanying unaudited condensed consolidated balance sheet. Refer to Note 4 (Fair Value) for more information. The Company’s investments were as follows:
| October 5, 2025
(in thousands) |  |  | Gross unrealized |  |
Security Type Category | Amortized Cost |  | Gains |  | Losses |  | Estimated Fair Value
Asset backed | $ | 10,349 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 10,363 |
Commercial deposits | 3,132 |  |  | 2 |  |  | — |  |  | 3,134 |
Corporate bonds | 67,029 |  |  | 121 |  |  | — |  |  | 67,150 |
U.S. government bonds | 22,435 |  |  | 33 |  |  | — |  |  | 22,468 |
Fixed income debt securities | 102,945 |  |  | 170 |  |  | — |  |  | 103,115 |
Note Receivable | 5,000 |  |  | 429 |  |  | — |  |  | 5,429 |
Total | $ | 107,945 |  |  | $ | 599 |  |  | $ | — |  |  | $ | 108,544 |
In determining credit losses on its investments in an unrealized loss position, the Company considers certain factors that may include, among others, severity of the unrealized loss, security type, industry sector, credit rating, yield to maturity, profitability, and stock performance. Based on the Company’s review of its investments in an unrealized loss position, it determined that the losses were due to non-credit factors and, therefore, it does not consider these securities to be credit impaired at October 5, 2025. As of October 5, 2025, the Company did not intend to sell any investments in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any investments before recovery of their amortized cost basis. Investments in fixed income debt securities by contractual maturities were as follows:
| October 5, 2025
(in thousands) | Amortized Cost |  | Estimated Fair Value
Less than one year | $ | 85,469 |  |  | $ | 85,614 |
1.0 to 2.0 years | 12,247 |  |  | 12,265 |
2.0 to 3.0 years | 5,081 |  |  | 5,088 |
More than 3.0 years | 148 |  |  | 148 |
Total | $ | 102,945 |  |  | $ | 103,115 |

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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- References No definition available. + Details
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