Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments

The following table presents the carrying values and estimated fair values, including the level within the fair value hierarchy, of certain financial instruments:

	December 31, 2023						January 1, 2023
	Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)		Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)
	(in thousands)
Assets:
Company-owned life insurance	$	22,788	$	—	$	22,788	$	22,616	$	—	$	22,616
Deferred compensation investments	28,417		9,200		19,217		27,610		11,003		16,607
Liabilities(1):
Borrowings under Syndicated Credit Facility(2)	$	121,658	$	—	$	121,658	$	226,332	$	—	$	226,332
5.50% Senior Notes due 2028(3)	300,000		—		281,991		300,000		—		248,652

(1) Carrying values are presented gross, excluding the impact of unamortized debt issuance costs and including amounts presented as current liabilities on the consolidated balance sheets.

(2) Unamortized debt issuance costs associated with term loan borrowings under the Syndicated Credit Facility, recorded as a reduction of long-term debt in the consolidated balance sheets, were $1.0 million and $1.9 million as of December 31, 2023 and January 1, 2023, respectively.

(3) Unamortized debt issuance costs associated with the Senior Notes, recorded as a reduction of long-term debt in the consolidated balance sheets, were $3.4 million and $4.2 million as of December 31, 2023 and January 1, 2023, respectively.