FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jan. 02, 2022

Fair Value Disclosures [Abstract]

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

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of January 2, 2022:

(in thousands)	Level I		Level II		Level III		Total
Assets:
Cash and cash equivalents	$	41,898	$	—	$	—	$	41,898
Interest rate swaps	—		2,208		—		2,208
Total assets	$	41,898	$	2,208	$	—	$	44,106
Liabilities
Commodity contracts	$	—	$	54	$	—	$	54
Interest rate swaps	—		4,600		—		4,600
Debt	—		841,962		—		841,962
Total liabilities	$	—	$	846,616	$	—	$	846,616

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of January 3, 2021: 

(in thousands)	Level I		Level II		Level III		Total
Assets:
Cash and cash equivalents	$	46,831	$	—	$	—	$	46,831
Total assets	$	46,831	$	—	$	—	$	46,831
Liabilities
Commodity contracts	$	—	$	248	$	—	$	248
Interest rate swaps	—		5,163		—		5,163
Public warrants	52,580		—		—		52,580
Private placement warrants	—		85,032		—		85,032
Debt	—		778,469		—		778,469
Total liabilities	$	52,580	$	868,912	$	—	$	921,492