Fair Value Measurements (Tables)

9 Months Ended

Sep. 24, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Condensed Balance Sheets as of September 24, 2022 and December 25, 2021:

	September 24, 2022		December 25, 2021		Fair Value Hierarchy Level
Liabilities:
Interest rate swaps (1)	$	—	$	210	Level 2

(1)     The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties.

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows:

	September 24, 2022				December 25, 2021
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	$	961	$	961	$	1,471	$	1,471
Financial liabilities:
Long-term debt, including current portion	80,665		73,644		63,275		61,721
Finance leases, including current portion	12,906		12,622		13,787		16,389
Interest rate swaps	—		—		210		210