Financial Instruments (Tables)

6 Months Ended

Jul. 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	Jul 2, 2022		Jan 1, 2022
Fair value	Prepaid expense and other	$	1,448	$	—
Fair value	Other assets	$	33,621	$	3,645
Fair value	Accrued expenses	$	—	$	1,171
Fair value	Other non-current liabilities	$	—	$	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				Six Months Ended
	Presentation of Gain/(loss)	Jul 2, 2022		Jul 3, 2021		Jul 2, 2022		Jul 3, 2021
Gain/(loss) recognized in accumulated other comprehensive income	Other comprehensive income	$	7,195	$	(4,259)	$	45,242	$	7,457
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	Interest expense	$	(3,856)	$	(5,207)	$	(7,817)	$	(10,230)