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Fair Value Measures (Tables)
3 Months Ended
Apr. 03, 2023
Fair Value Disclosures [Abstract]  
Carrying Amount and Estimated Fair Value of Financial Instruments

The carrying amount and estimated fair value of the Company’s financial instruments as of April 3, 2023 and January 2, 2023 were as follows:

 

 

 

As of

 

 

As of

 

 

 

April 3, 2023

 

 

January 2, 2023

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

Carrying
Amount

 

 

Fair Value

 

 

 

(In thousands)

 

Derivative assets, current

 

$

640

 

 

$

640

 

 

$

 

 

$

 

Derivative liabilities, current

 

 

310

 

 

 

310

 

 

 

1,622

 

 

 

1,622

 

Derivative liabilities, non-current

 

 

901

 

 

 

901

 

 

 

 

 

 

 

Senior Notes due March 2029

 

 

495,392

 

 

 

436,870

 

 

 

495,221

 

 

 

430,165

 

Term Loan due September 2024

 

 

354,601

 

 

 

355,879

 

 

 

404,186

 

 

 

405,628

 

ABL Revolving Loans

 

 

30,000

 

 

 

30,000

 

 

 

30,000

 

 

 

30,000