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Forgivable Loans (Tables) | 6 Months Ended
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Jun. 29, 2024
Forgivable Loans |
Schedule of forgivable loan activity | The following table presents forgivable loan activity for the respective periods (in thousands):
|  | June 29, 2024 |  | December 30, 2023
Beginning balance |  | $ | 53,941 |  |  | $ | 56,456 |
Advances |  | 24,130 |  |  | 23,342 |
Repayments |  | (288) |  |  | (1,816) |
Reclassifications from accrued expenses or to other assets (1) |  | (6,743) |  |  | — |
Amortization (2) |  | (17,757) |  |  | (24,198) |
Effects of foreign currency translation |  | (61) |  |  | 157 |
Ending balance |  | $ | 53,222 |  |  | $ | 53,941 |
Current portion of forgivable loans |  | $ | 14,213 |  |  | $ | 8,759 |
Non-current portion of forgivable loans |  | $ | 39,009 |  |  | $ | 45,182 |
_______________________________ (1)Relates to the reclassification of performance awards previously recorded as accrued expenses or forgivable loans that have been reclassified to other receivables. (2)During the quarter ended June 29, 2024, approximately $5.7 million of amortization was accelerated due to involuntary terminations.

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