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FAIR VALUE (Tables)
12 Months Ended
Dec. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized below:
 December 30, 2023
 Level 1Level 2Level 3Total
Current assets measured at fair value:(in thousands)
Cash equivalents$— $29 $— $29 
Other assets:
Life insurance policies— 40,912 40,912 
Interest rate swap— 966 — 966 
Total assets measured at fair value$— $41,907 $— $41,907 
Other long-term liabilities measured at fair value:
Contingent consideration— — 33,265 33,265 
Interest rate swap— — — — 
Total liabilities measured at fair value$— $— $33,265 $33,265 
 December 31, 2022
 Level 1Level 2Level 3Total
Current assets measured at fair value:(in thousands)
Cash equivalents$— $78 $— $78 
Other assets:
Life insurance policies— 34,527 — 34,527 
Total assets measured at fair value$— $34,605 $— $34,605 
Accrued liabilities measured at fair value:
Contingent consideration$— $— $13,431 $13,431 
Other long-term liabilities measured at fair value:
Contingent consideration— — — — 
Interest rate swap— 1,523 — 1,523 
Total liabilities measured at fair value$— $1,523 $13,431 $14,954 
During fiscal years 2023 and 2022, there were no transfers between fair value levels.
The book value and fair value of the Company’s Senior Notes is summarized below:
December 30, 2023December 31, 2022
Book ValueFair ValueBook ValueFair Value
(in thousands)
4.25% Senior Notes due 2028
$500,000 $478,100 $500,000 $460,450 
3.75% Senior Notes due 2029
500,000 458,100 500,000 442,200 
4.00% Senior Notes due 2031
500,000 449,350 500,000 432,500 
Rollforward of Contingent Consideration Related to Previous Acquisitions
The following table provides a rollforward of the contingent consideration related to the Company’s acquisitions.
Fiscal Year
202320222021
(in thousands)
Beginning balance$13,431 $37,244 $2,328 
Additions33,265 3,838 71,559 
Payments(15,130)(11,476)(2,889)
Total gains or losses (realized/unrealized):
Adjustment of previously recorded contingent liability1,810 (15,340)(33,386)
Foreign currency translation(111)(835)(368)
Ending balance$33,265 $13,431 $37,244