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Fair Value of Financial Instruments
 6 Months Ended
Jun. 26, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
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 June 26, 2024:
Deferred compensation plan investments (1)
$11,539 $11,539 $— $— 
Interest rate swaps (2)
18,138 — 18,138 — 
Investments (3)
2,796 — 2,796 — 
Total$32,473 $11,539 $20,934 $— 
Fair value measurements as of December 27, 2023:
Deferred compensation plan investments (1)
$12,225 $12,225 $— $— 
Interest rate swaps (2)
8,888 — 8,888 — 
Investments (3)
1,281 — 1,281 — 
Total$22,394 $12,225 $10,169 $— 

(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, forward yield curves and credit risk adjustments that are necessary to reflect the probability of default by the counterparty or us. For disclosures about the fair value measurements of our derivative instruments, see Note 7.
(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.

Those assets and liabilities measured at fair value on a non-recurring basis are summarized below:
Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs
(Level 3)

 Impairment Charges
(In thousands)
Fair value measurements as of June 26, 2024:
Assets held for sale, including goodwill and intangible assets (1)
$350 $— $519 
Assets held and used (2)
$— $— $120 
(1)As of June 26, 2024, assets held for sale were written down to their estimated fair value. The fair value of assets held for sale is based on Level 2 inputs, which include anticipated sales agreements.
(2)As of June 26, 2024, impaired assets were written down to their fair value. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly. There is uncertainty in the projected future cash flows used in the Company's impairment analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods.

Assets that are measured at fair value on a non-recurring basis include property, operating lease right-of-use assets, finance lease right-of-use assets, goodwill and intangible assets. During the quarter and year-to-date period ended June 26, 2024, we recognized impairment charges of $0.6 million and $0.7 million, respectively, related to certain of these assets. See Note 4 and Note 9.
The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are deemed to approximate fair value due to the immediate or short-term maturity of these instruments. The fair value of notes receivable approximates the carrying value after consideration of recorded allowances and related risk-based interest rates. The liabilities under our credit facility are carried at historical cost, which approximates fair value. The fair value of our senior secured revolver approximates its carrying value since it is a variable rate facility (Level 2).