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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 29, 2024
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at June 29, 2024:
| Fair Value Hierarchy |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | 69,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 69,000 |
Forward contracts | — |  |  | 52 |  |  | — |  |  | 52 |
Total | $ | 69,000 |  |  | $ | 52 |  |  | $ | — |  |  | $ | 69,052 |
Liabilities: |  |  |  |  |  |  |
Forward contracts | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 26 |
Acquisition-related contingent consideration | — |  |  | — |  |  | 1,971 |  |  | 1,971 |
Total | $ | — |  |  | $ | 26 |  |  | $ | 1,971 |  |  | $ | 1,997 |
The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 30, 2023:
| Fair Value Hierarchy |  |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | 90,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 90,000 |
Interest rate swaps | — |  |  | 10,379 |  |  | — |  |  | 10,379 |
Cross currency swaps | — |  |  | 20,831 |  |  | — |  |  | 20,831 |
Total | $ | 90,000 |  |  | $ | 31,210 |  |  | $ | — |  |  | $ | 121,210 |
Liabilities: |  |  |  |  |  |  |
Cross currency swaps | $ | — |  |  | $ | 466 |  |  | $ | — |  |  | $ | 466 |
Forward contracts | — |  |  | 384 |  |  | — |  |  | 384 |
Total | $ | — |  |  | $ | 850 |  |  | $ | — |  |  | $ | 850 |
Fair Value Measurement Inputs and Valuation Techniques | The following table provides quantitative information regarding Level 3 inputs used in the fair value measurement of the acquisition-related contingent consideration liability as of June 29, 2024:
Acquisition-related contingent consideration liabilities |  | Valuation Technique |  | Unobservable Input |  | Range
Potential payment |  | Probability-weighted present value |  | Probability of payment |  | 0% - 100%
|  |  |  | Discount rate |  | 11% - 12%
|  |  |  | Projected years of payments |  | 2025 - 2027
Fair Value, Liabilities Measured on Recurring Basis | The following table provides a reconciliation of the acquisition-related contingent consideration liability measured at fair value using Level 3 significant unobservable inputs:
(in thousands) |  |
Balance at May 6, 2024(1) |  | $ | 1,898 |
Change in fair value recorded in selling, general and administrative expenses |  | 73 |
Balance at June 29, 2024 |  | $ | 1,971 |
(1)May 6, 2024 reflects the acquisition date of 2 Peaches.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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