Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2022

Notes To Financial Statements [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the company’s fair value of interest rate swaps (in thousands):

	Condensed Consolidated Balance Sheet Presentation	Apr 2, 2022		Jan 1, 2022
Fair value	Prepaid expense and other	$	623	—
Fair value	Other assets	$	25,501	$	3,645
Fair value	Accrued expenses	$	67	$	1,171
Fair value	Other non-current liabilities	$	2,039	$	20,464

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The impact on earnings from interest rate swaps was as follows (in thousands):

		Three Months Ended
	Presentation of Gain/(loss)	Apr 2, 2022		Apr 3, 2021
Gain/(loss) recognized in accumulated other comprehensive income	Other comprehensive income	$	38,047	$	11,716
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	Interest expense	$	(3,961)	$	(5,023)