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Derivatives (Tables)

9 Months Ended

Oct. 07, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of pay-fixed, receive-floating interest rate swap contract

Details of the pay-fixed, receive-floating interest rate swap contract as of October 7, 2023 are as follows:

Effective Date	Maturity Date	Notional Value (in millions)	Pay Fixed Rate	Receive Floating Rate	Floating Rate Reset Terms
March 17, 2023	November 17, 2027	$150	3.646%	One-Month CME Term SOFR	Monthly

Schedule of fair value of the interest rate swap

The location and the fair value of the interest rate swap in the condensed consolidated balance sheets as of October 7, 2023 is as follows:

			Derivative Fair Value
			October 7,
(In thousands)	Condensed Consolidated Balance Sheet Location		2023
Cash Flow Hedge:
Interest rate swap	Prepaid expenses and other current assets		$		2,489
Interest rate swap	Other assets, net				2,344
Interest rate swap	Accumulated other comprehensive income				3,652

Schedule of gains recognized in the condensed consolidated statements of earnings for the interest rate swap, presented on a pre-tax basis

The location and amount of gains recognized in the condensed consolidated statements of earnings for the interest rate swap, presented on a pre-tax basis, are as follows:

	12 Weeks Ended				40 Weeks Ended
	October 7,				October 7,
	2023				2023
(In thousands)	Interest expense, net				Interest expense, net
Total amounts of expense line items presented in the condensed consolidated statements of earnings in which the effects of cash flow hedges are recorded	$		9,280		$		30,218
Gain on cash flow hedging relationships:
Gain reclassified from comprehensive income into earnings			573				1,242

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Tabular disclosure of derivative assets at fair value.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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