XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Fair Value Measurements | 12 Months Ended
--- | ---
Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | 13. Fair Value Measurements Recurring and Non-recurring Fair Value Measurements There were no assets or liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2023 and January 1, 2023. Fair Value of Financial Instruments The Company believes the carrying values of its financial instruments related to current assets and liabilities approximate fair value due to short-term maturities. The Company has estimated the fair value of the Senior Secured Notes and the property mortgage loans as of December 31, 2023 and January 1, 2023 using a discounted cash flow analysis. The fair value of the other non-current debt is estimated as of December 31, 2023 and January 1, 2023 using a discounted cash flow analysis, except for the Dean Street Loan and the Copenhagen Loan where fair value is estimated to be equal to the current carrying value of each instrument as of December 31, 2023 based on a comparison of each instrument’s contractual terms to current market terms. The Company does not believe that the use of different market inputs would have resulted in a materially different fair value of debt as of December 31, 2023 and January 1, 2023. The following table presents the estimated fair values (all of which are Level 3 fair value measurements) of the Company’s debt instruments with maturity dates in 2025 and thereafter:
(in thousands) |  | Carrying Value |  |  | Fair Value |
December 31, 2023 |  |  |  |  |  |
Senior Secured Notes |  | $ | 615,718 |  |  | $ | 597,063 |
Property mortgage loans |  |  | 137,099 |  |  |  | 117,488 |
Other non-current debt |  |  | 21,433 |  |  |  | 21,079 |
|  | $ | 774,250 |  |  | $ | 735,630 |
(in thousands) |  | Carrying Value |  |  | Fair Value |
January 1, 2023 |  |  |  |  |  |
Senior Secured Notes |  | $ | 570,712 |  |  | $ | 545,362 |
Property mortgage loans |  |  | 116,187 |  |  |  | 113,066 |
Other non-current debt |  |  | 10,197 |  |  |  | 9,647 |
|  | $ | 697,096 |  |  | $ | 668,075 |
The carrying values of the Company’s other non-current liabilities and non-current assets approximate their fair values.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration