FAIR VALUE (Tables)

6 Months Ended

Jun. 26, 2021

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	June 26, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	1,592	$	—	$	1,592
Other assets:
Life insurance policies	—		40,652		—		40,652
Total assets measured at fair value	$	—	$	42,244	$	—	$	42,244
Other current liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	23,531	$	23,531
Other long-term liabilities measured at fair value:
Contingent consideration	—		—		13,776		13,776
Total liabilities measured at fair value	$	—	$	—	$	37,307	$	37,307

	December 26, 2020
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	2,273	$	—	$	2,273
Other assets:
Life insurance policies	—		35,770		—		35,770
Total assets measured at fair value	$	—	$	38,043	$	—	$	38,043
Other liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	2,328	$	2,328
Total liabilities measured at fair value	$	—	$	—	$	2,328	$	2,328

The book value and fair value of the Company’s Senior Notes is summarized below:

	June 26, 2021				December 26, 2020
	Book Value		Fair Value		Book Value		Fair Value
5.5% Senior Notes due 2026	$	—	$	—	$	500,000	$	523,100
4.25% Senior Notes due 2028	500,000		516,850		500,000		523,750
3.75% Senior Notes due 2029	500,000		505,000		—		—
4.0% Senior Notes due 2031	500,000		515,000		—		—

Rollforward of Contingent Consideration Related to Previous Acquisitions

The following table provides a rollforward of the contingent consideration related to the Company’s business combinations. See Note 2, “Business Combinations.”

	Six Months Ended
	June 26, 2021		June 27, 2020
	(in thousands)
Beginning balance	$	2,328	$	712
Additions	37,983		2,131
Payments	(2,889)		(230)
Adjustment of previously recorded contingent liability	—		(468)
Foreign currency	(115)		(3)
Ending balance	$	37,307	$	2,142