Fair Value Measurements (Tables)

3 Months Ended

Mar. 26, 2023

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

The table below presents the balances of assets and liabilities measured at fair value as of March 26, 2023, December 31, 2022, and March 27, 2022 on a recurring basis as well as the fair values of other financial instruments, including their locations within the unaudited condensed consolidated balance sheets:


(In thousands)	Balance Sheet Location	Fair Value Hierarchy Level	March 26, 2023				December 31, 2022				March 27, 2022
			Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investments	Other current assets	Level 1	$	366	$	366	$	432	$	432	$	474	$	474
Interest rate swaps	Derivative Liability	Level 2	—		—		—		—		$	(5,884)	$	(5,884)
Other financial assets (liabilities):
Term debt	Long-Term Debt (1)	Level 2	—		—		—		—		$	(264,250)	$	(260,286)
2025 senior notes	Long-Term Debt (1)	Level 2	$	(1,000,000)	$	(987,500)	$	(1,000,000)	$	(985,000)	$	(1,000,000)	$	(1,015,000)
2027 senior notes	Long-Term Debt (1)	Level 1	$	(500,000)	$	(476,875)	$	(500,000)	$	(476,250)	$	(500,000)	$	(493,750)
2028 senior notes	Long-Term Debt (1)	Level 1	$	(300,000)	$	(290,250)	$	(300,000)	$	(291,000)	$	(300,000)	$	(304,500)
2029 senior notes	Long-Term Debt (1)	Level 1	$	(500,000)	$	(456,250)	$	(500,000)	$	(446,250)	$	(500,000)	$	(486,250)

(1)Carrying values of long-term debt balances are before reductions for debt issuance costs and original issue discount of $31.7 million, $31.8 million and $42.2 million as of March 26, 2023, December 31, 2022 and March 27, 2022, respectively.