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Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Jan. 01, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value, assets measured on recurring basis

The following table presents assets measured at fair value by classification within the fair value hierarchy as of January 1, 2022:

 

			Fair Value Measurements Using
(in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
Cash Equivalents			$	12,475					$	—					$	—					$	12,475
Investments in equity securities			26,070						—						—						26,070
Mutual funds			15,021						—						—						15,021
Total:			$	53,566					$	—					$	—					$	53,566

The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 26, 2020:

 

			Fair Value Measurements Using
(in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
Cash Equivalents			$	73,461					$	—					$	—					$	73,461
Investments in equity securities			19,186						—						—						19,186
Mutual funds			13,249						—						—						13,249
Total:			$	105,896					$	—					$	—					$	105,896

Schedule of fair value, by balance sheet grouping

The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series A and Series B and USD Senior Notes, Series A and Series B, as of January 1, 2022 and December 26, 2020 were as follows:

 

			January 1, 2022												December 26, 2020
(in thousands)			Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value
Euro Senior Notes, Series A due 2023			$	132,444					$	134,119					$	142,679					$	144,323
Euro Senior Notes, Series B due 2028			107,540						110,837						115,850						123,588
USD Senior Notes, Series A due 2022			25,000						25,055						25,000						25,437
USD Senior Notes, Series B due 2027			100,000						104,828						100,000						109,552
USD Senior Notes, Series A due 2025			50,000						51,720						50,000						53,474
USD Senior Notes, Series B due 2030			125,000						131,837						125,000						138,036

Summary of impairment of long-lived assets held and used by asset

The fair value as of the measurement date, net book value as of the end of the year and related 2020 goodwill impairment for assets measured at fair value on a nonrecurring basis subsequent to initial recognition during the years ended December 26, 2020 were as follows:

Fiscal Year Ended December 26, 2020

December 26, 2020

(in thousands)

Impairment Charge

Estimated Fair Value Measurement (Level 3)

Carrying Value

Goodwill

$33,841

$8,953

$

9,832

X

- Definition

Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-Name Accounting Standards Codification
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