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Derivatives
 9 Months Ended
Sep. 24, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives DERIVATIVES
The Company's earnings, cash flows and financial position are exposed to market risks relating to interest rates. It is the Company's policy to minimize its exposure to adverse changes in interest rates and manage interest rate risks inherent in funding the Company with debt. The Company addresses this risk by maintaining a mix of fixed and floating rate debt and evaluating opportunities to enter into interest rate swaps for portions of its variable rate debt to minimize interest rate volatility.

As of September 24, 2022, the Company had no interest rate swaps outstanding. The following is a summary of the Company's interest rate swap outstanding as of December 25, 2021:
TypeNotional AmountEffective DateFixed RateVariable Rate
Interest rate swap$5,796 November 7, 2014 through November 7, 20244.500%1 Month LIBOR

The following table summarizes the fair values of derivative instruments included in the Company's consolidated condensed financial statements:
Location on Consolidated Balance SheetsFair Value
September 24,
2022		December 25,
2021
Liability Derivatives:
Derivatives designated as hedging instruments:
Interest rate swaps, current portionAccrued expenses$— $110 
Interest rate swaps, long-term portionOther long-term liabilities— 100 
Total Liability Derivatives$— $210 
The following tables summarize the pre-tax impact of derivative instruments on the Company's consolidated condensed financial statements:
 Amount of Gain or (Loss) Recognized in AOCIL on the effective portion of the Derivative
Three Months EndedNine Months Ended
 September 24,
2022		September 25,
2021		September 24,
2022		September 25,
2021
Derivatives designated as hedging instruments:   
Cash flow hedges - interest rate swaps$— $(3)$— $40 
 Amount of Gain (Loss) Reclassified from AOCIL on the effective portion into Earnings (1)(2)
Three Months EndedNine Months Ended
 September 24,
2022		September 25,
2021		September 24,
2022		September 25,
2021
Derivatives designated as hedging instruments:   
Cash flow hedges - interest rate swaps$— $33 $(7)$102 
Amount of Gain or (Loss) Recognized on the Dedesignated Portion in Income on Derivative (3)
Three Months EndedNine Months Ended
September 24,
2022		September 25,
2021		September 24,
2022		September 25,
2021
Derivatives dedesignated as hedging instruments:
Cash flow hedges - interest rate swaps$— $136 $210 $509 

(1)The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's consolidated condensed financial statements.
(2)The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to September 24, 2022 is $0.
(3)The amount of gain (loss) recognized in income on the dedesignated portion of interest rate swaps is included in other income or other expense on the Company's Consolidated Condensed Statements of Operations. The amount of expense recognized on the Company's Consolidated Statements of Operations for the terminated portion of interest rate swaps is included in interest expense.
On March 16, 2022, the Company terminated an interest rate swap agreement tied to a note payable secured by its facility in Adairsville, GA. The settlement payment to terminate the swap agreements was $73. Because it is probable that none of the remaining forecasted interest payments that were being hedged will occur, the related losses in the amount of $177, net of tax, that had been deferred in AOCIL were reclassified into interest expense during the period.