Impairment of Equity Investment

9 Months Ended

Sep. 27, 2025

Impairment of Equity Securities Without Readily Determinable Fair Value Annual Amount [Abstract]

(16)	Impairment of Equity Investment

In 2022, the Company acquired a minority equity investment in Cavnue, LLC (“Cavnue”), a privately held

start-up

company focused on combining technology and road infrastructure to unlock the full potential of connected and autonomous vehicles. This

non-controlling

investment in units of Cavnue is considered an investment in

non-marketable

equity securities without a readily determinable market value. The carrying value of the

non-marketable

equity securities is adjusted to fair value upon observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative).

During the 2025 third fiscal quarter, the Company determined that there were indicators of potential impairment related to the value of its equity investment in Cavnue related to the financial performance of the company and its ability to raise additional capital to finance continued investment in its operations. As such, the Company recorded a

non-cash

impairment charge for the carrying value of its investment in Cavnue of $4,999,000 during the thirteen-week period ended September 27, 2025, which is included in impairment of intangible and other assets within the Company’s consolidated statements of income.