XML 31 R21.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measures
 12 Months Ended
Dec. 29, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measures
(10)
Fair Value Measures

The carrying amount and estimated fair value of the Company’s financial instruments were as follows:

 

 

 

As of December 29, 2025

 

 

As of December 30, 2024

 

 

 

Carrying Amount

 

 

Fair Value

 

 

Carrying Amount

 

 

Fair Value

 

 

 

(In thousands)

 

Derivative assets, current

 

$

5,212

 

 

$

5,212

 

 

$

1,765

 

 

$

1,765

 

Derivative assets, non-current

 

 

—

 

 

 

—

 

 

 

1,326

 

 

 

1,326

 

Derivative liabilities, current

 

 

31

 

 

 

31

 

 

 

667

 

 

 

667

 

Derivative liabilities, non-current

 

 

382

 

 

 

382

 

 

 

—

 

 

 

—

 

Senior Notes due March 2029

 

 

497,392

 

 

 

488,325

 

 

 

496,638

 

 

 

464,325

 

Term Loan due May 2030

 

 

336,778

 

 

 

345,806

 

 

 

339,205

 

 

 

346,930

 

ABL Revolving Loans

 

 

80,000

 

 

 

80,000

 

 

 

80,000

 

 

 

80,000

 

Other loan

 

 

1,981

 

 

 

1,981

 

 

 

2,311

 

 

 

2,311

 

The fair value of the derivative instruments was determined using pricing models developed based on the 1-month CME Term SOFR swap rate, foreign currency exchange rates, and other observable market data, including quoted market prices, as appropriate using Level 2 inputs. The values were adjusted to reflect non-performance risk of both the counterparty and the Company, as necessary.

The fair value of the long-term debt was estimated based on quoted market prices, where available, as of December 29, 2025 and December 30, 2024, which are considered Level 2 inputs.

The fair value of plan assets in the defined benefit plan of $23,229 and $23,297 as of December 29, 2025 and December 30, 2024, respectively, was not included in the table above and was estimated based on quoted market prices of the securities that are actively traded and price quotes that are readily available, which are considered Level 1 inputs.

As of December 29, 2025 and December 30, 2024, the Company’s other financial instruments included cash and cash equivalents, accounts receivable, contract assets, accounts payable, and contract liabilities. The carrying amount of these instruments approximates fair value.

As of December 30, 2024, the Company’s goodwill balance related to its RF&S Components reporting unit of $31,300 was measured at fair value on a nonrecurring basis. The Company recorded a non-cash goodwill impairment charge of $32,600 related to its RF&S Components reporting unit during the year ended December 30, 2024. The fair value of goodwill was determined using both a DCF and a market approach, which are considered Level 3 inputs. The Company used a risk adjusted discount rate of 12% to discount the expected future cash flows in 2024.