Schedule 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: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 28, 2024 | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | | | | Current assets measured at fair value: | (in thousands) | | | | | Cash equivalents | $ | — | | | $ | 30 | | | $ | — | | | $ | 30 | | | | | | | | | | | | | | | | | | Interest rate swap | — | | | 278 | | | — | | | 278 | | | | | | Other assets: | | | | | | | | | | | | Life insurance policies | — | | | 47,734 | | | — | | | 47,734 | | | | | | Total assets measured at fair value | $ | — | | | $ | 48,042 | | | $ | — | | | $ | 48,042 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other long-term liabilities measured at fair value: | | | | | | | | | | | | Contingent consideration | $ | — | | | $ | — | | | $ | 39,893 | | | $ | 39,893 | | | | | | | | | | | | | | | | | | Total liabilities measured at fair value | $ | — | | | $ | — | | | $ | 39,893 | | | $ | 39,893 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 30, 2023 | | Level 1 | | Level 2 | | Level 3 | | Total | 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 | | | | | | | | | | Total liabilities measured at fair value | $ | — | | | $ | — | | | $ | 33,265 | | | $ | 33,265 | |
The book value and fair value of the Company’s Senior Notes is summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | September 28, 2024 | | December 30, 2023 | | Book Value | | Fair Value | | Book Value | | Fair Value | | (in thousands) | 4.25% Senior Notes due 2028 | $ | 500,000 | | | $ | 484,350 | | | $ | 500,000 | | | $ | 478,100 | | 3.75% Senior Notes due 2029 | 500,000 | | | 470,100 | | | 500,000 | | | 458,100 | | 4.00% Senior Notes due 2031 | 500,000 | | | 459,350 | | | 500,000 | | | 449,350 | |
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Schedule of Rollforward of Contingent Consideration Related to Previous Acquisitions |
The following table provides a rollforward of the contingent consideration related to the Company’s acquisitions. | | | | | | | | | | | | | Nine Months Ended | | September 28, 2024 | | September 30, 2023 | | (in thousands) | Beginning balance | $ | 33,265 | | | $ | 13,431 | | | | | | Payments | — | | | (15,130) | | Total gains or losses (realized/unrealized): | | | | Adjustment of previously recorded contingent liability | 6,628 | | | 1,810 | | Foreign currency translation | — | | | (111) | | Ending balance | $ | 39,893 | | | $ | — | |
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