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Derivatives (Tables)

9 Months Ended

Oct. 05, 2024

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 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 5, 2024 and December 30, 2023, respectively, are as follows:

		Derivative Fair Value
(In thousands)	Condensed Consolidated Balance Sheets Location	October 5, 2024					December 30, 2023
Cash Flow Hedge:
Interest rate swap	Prepaid expenses and other current assets	$		628			$		1,721
Interest rate swap	Other long-term liabilities			1,024					1,914
Interest rate swap	Accumulated other comprehensive (loss) income			(325	)				(316	)

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:

	Interest expense, net
	12 Weeks Ended										40 Weeks Ended
(In thousands)	October 5, 2024					October 7, 2023					October 5, 2024					October 7, 2024
Total amounts of expense line items presented in the condensed consolidated statements of earnings in which the effects of cash flow hedges are recorded	$		9,915			$		9,280			$		33,943			$		30,218
Gain on cash flow hedging relationships:
Gain reclassified from comprehensive income into earnings			569					573					1,946					1,242

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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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