3. Debt

Fair Value of Debt

Market risk associated with our fixed and variable rate long‑term debt relates to the potential change in fair value and negative impact to future earnings, respectively, from a change in interest rates. The aggregate fair value of debt is based primarily on our estimates of interest rates, maturities, credit risk, and underlying collateral and is classified as Level 3 within the fair value hierarchy. At March 28, 2019 and December 27, 2018, the carrying amounts and fair values of our debt were as follows:


	March 28,		December 27,
(in thousands)	2019		2018
Total debt at par value	$	150,225	$	149,000
Less: unamortized discount and debt issuance costs		3,473		3,666
Net carrying amount	$	146,752	$	145,334
Fair value	$	148,003	$	147,883