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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of assets measured at fair value on a recurring basis | The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:
| DECEMBER 31, 2023 |  | DECEMBER 25, 2022 |  |
(dollars in thousands) | TOTAL |  | LEVEL 1 |  | LEVEL 2 |  | TOTAL |  | LEVEL 1 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Fixed income funds | $ | 12,837 |  |  | $ | 12,837 |  |  | $ | — |  |  | $ | 3,301 |  |  | $ | 3,301 |  |  |
Money market funds | 11,083 |  |  | 11,083 |  |  | — |  |  | 4,786 |  |  | 4,786 |  |  |
Restricted cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Money market funds | 2,854 |  |  | 2,854 |  |  | — |  |  | — |  |  | — |  |  |
Other current assets, net: |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | 320 |  |  | — |  |  | 320 |  |  | — |  |  | — |  |  |
Total asset recurring fair value measurements | $ | 27,094 |  |  | $ | 26,774 |  |  | $ | 320 |  |  | $ | 8,087 |  |  | $ | 8,087 |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Accrued and other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | $ | 253 |  |  | $ | — |  |  | $ | 253 |  |  | $ | — |  |  | $ | — |  |  |
Other long-term liabilities: |  |  |  |  |  |  |  |  |  |  |
Derivative instruments - interest rate swaps | 893 |  |  | — |  |  | 893 |  |  | — |  |  | — |  |  |
Total liability recurring fair value measurements | $ | 1,146 |  |  | $ | — |  |  | $ | 1,146 |  |  | $ | — |  |  | $ | — |  |  |
Fair value, assets measured on recurring basis, methods and assumptions | Fair value of each class of financial instruments is determined based on the following:
FINANCIAL INSTRUMENT |  | METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds |  | Carrying value approximates fair value because maturities are less than three months.
Derivative instruments |  | The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considered its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of December 31, 2023, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.
Fair value assets measured on a nonrecurring basis | The following table summarizes the Company’s assets measured at fair value by hierarchy level on a nonrecurring basis for the periods indicated:
| 2023 |  | 2022 |  | 2021
(dollars in thousands) | REMAINING CARRYING VALUE |  | TOTAL IMPAIRMENT |  | REMAINING CARRYING VALUE |  | TOTAL IMPAIRMENT |  | REMAINING CARRYING VALUE |  | TOTAL IMPAIRMENT
Operating lease right-of-use assets (1) | $ | 4,057 |  |  | $ | 10,210 |  |  | $ | 2,219 |  |  | $ | 1,233 |  |  | $ | 8,647 |  |  | $ | 3,950 |
Property, fixtures and equipment (2) | 4,623 |  |  | 30,202 |  |  | 2,807 |  |  | 4,253 |  |  | 11,647 |  |  | 8,445 |
Goodwill and other assets (3) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,006 |
| $ | 8,680 |  |  | $ | 40,412 |  |  | $ | 5,026 |  |  | $ | 5,486 |  |  | $ | 20,294 |  |  | $ | 13,401 |
________________ (1)Carrying values measured using discounted cash flow models (Level 3). Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments. (2)Carrying values measured using Level 2 inputs to estimate fair value totaled $1.2 million and $1.4 million for 2023 and 2021, respectively. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate the fair value. Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments. (3)Other assets were generally measured using the quoted market value of comparable assets (Level 2).
Schedule of carrying value and fair value of debt | The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:
| DECEMBER 31, 2023 |  | DECEMBER 25, 2022
| CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |  |  | CARRYING VALUE |  | FAIR VALUE LEVEL 2 |  |
(dollars in thousands) |  |  |
Senior secured credit facility - revolving credit facility | $ | 381,000 |  |  | $ | 381,000 |  |  |  |  | $ | 430,000 |  |  | $ | 430,000 |  |  |
2025 Notes | $ | 104,786 |  |  | $ | 265,896 |  |  |  |  | $ | 105,000 |  |  | $ | 198,843 |  |  |
2029 Notes | $ | 300,000 |  |  | $ | 277,809 |  |  |  |  | $ | 300,000 |  |  | $ | 260,265 |  |  |

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets and liabilities. This disclosure may include, but is not limited to, the fair value of the asset or liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References No definition available. + Details
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- 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). + 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 Reference 2: 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 3: http://fasb.org/us-gaap/role/ref/legacyRef -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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- 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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