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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
 
 TotalQuoted Prices in Active Markets for Identical Assets/Liabilities
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
 
(In thousands)
Fair value measurements as of March 30, 2022:
Deferred compensation plan investments (1)
$12,925 $12,925 $— $— 
Interest rate swaps, net (2)
(23,264)— (23,264)— 
Investments (3)
3,687 — 3,687 — 
Total$(6,652)$12,925 $(19,577)$— 
Fair value measurements as of December 29, 2021:
Deferred compensation plan investments (1)
$13,726 $13,726 $— $— 
Interest rate swaps (2)
(52,121)— (52,121)— 
Investments (3)
2,551 — 2,551 — 
Total$(35,844)$13,726 $(49,570)$— 

(1)    The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments and are included in other noncurrent assets in our Consolidated Balance Sheets.
(2)    The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models. The key inputs for the valuation models are quoted market prices, interest rates and forward yield curves. See Note 7 for details on the interest rate swaps.
(3)    The fair values of our investments are valued using a readily determinable net asset value per share based on the fair value of the underlying securities. There are no significant redemption restrictions associated with these investments.