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FAIR VALUE (Tables)

6 Months Ended

Jun. 25, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Liabilities Measured at Fair Value

The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:

									Fair Value Measurements as of June 25, 2023																								Fair Value Measurements as of December 25, 2022
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
(dollar amounts in thousands)
Contingent consideration			21,275						—						—						21,275						21,296						—						—						21,296

Schedule of Fair Values Roll Forward of Contingent Consideration

The following table provides a roll forward of the aggregate fair values of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs.

(dollar amounts in thousands)			Contingent Consideration
Balance—December 25, 2022			$	21,296
Change in fair value			(21)
Balance—June 25, 2023			$	21,275

Schedule of Non-financial Instruments Measured at Fair Value, on a Nonrecurring Basis

The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the thirteen and twenty-six weeks ended June 25, 2023 and June 26, 2022, reflecting certain operating leases for which an impairment loss was recognized during the corresponding periods within restructuring charges on the condensed consolidated statement of operations, see Note 1:

Fair Value Measurements as of June 25, 2023

Thirteen Weeks Ended June 25, 2023

Twenty-six Weeks Ended June 25, 2023

Total

Level 1

Level 2

Level 3

Impairment Losses

(dollar amounts in thousands)

Operating lease assets

6,069

—

—

6,069

4,291

4,291

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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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.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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