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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 24, 2023
Fair Value Disclosures [Abstract] |
Fair value measurement inputs and valuation techniques | Fair value is categorized into one of the following three levels based on the lowest level of significant input:
Level 1 |  | Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2 |  | Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3 |  | Unobservable inputs that cannot be corroborated by observable market data
Schedule of assets measured at fair value on a recurring basis | The following table summarizes the Company’s financial assets measured at fair value by hierarchy level on a recurring basis as of the periods indicated:
| SEPTEMBER 24, 2023 |  |  |  | DECEMBER 25, 2022 |  |
(dollars in thousands) | TOTAL |  | LEVEL 1 |  |  |  |  |  | TOTAL |  | LEVEL 1 |  |  |  |
Assets (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds | $ | 11,502 |  |  | $ | 11,502 |  |  |  |  |  |  | $ | 3,301 |  |  | $ | 3,301 |  |  |  |  |
Money market funds | 10,775 |  |  | 10,775 |  |  |  |  |  |  | 4,786 |  |  | 4,786 |  |  |  |  |
Total asset recurring fair value measurements | $ | 22,277 |  |  | $ | 22,277 |  |  |  |  |  |  | $ | 8,087 |  |  | $ | 8,087 |  |  |  |  |
________________ (1)Carrying value approximates fair value because maturities are less than three months.
Schedule of carrying value and fair value of senior secured credit facility and other unsecured debt | The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:
| SEPTEMBER 24, 2023 |  | DECEMBER 25, 2022
(dollars in thousands) | CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |  |  | CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |
Senior secured credit facility - revolving credit facility | $ | 390,000 |  |  | $ | 390,000 |  |  |  |  | $ | 430,000 |  |  | $ | 430,000 |  |  |
2025 Notes | $ | 104,786 |  |  | $ | 228,679 |  |  |  |  | $ | 105,000 |  |  | $ | 198,843 |  |  |
2029 Notes | $ | 300,000 |  |  | $ | 267,573 |  |  |  |  | $ | 300,000 |  |  | $ | 260,265 |  |  |

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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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