Fair Value of Assets and Liabilities (Tables)
|
12 Months Ended |
Dec. 29, 2018 |
|---|
| Fair Value Disclosures [Abstract] |
|
| Fair Value, Assets Measured on Recurring Basis |
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 29, 2018: | | | | | | | | | | | | | | | | | | Fair Value Measurements Using | | | (in thousands) | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total | Investments in equity securities | $ | 10,312 |
| | $ | — |
| | $ | — |
| | $ | 10,312 |
| Mutual funds | 9,112 |
| | — |
| | — |
| | 9,112 |
|
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 30, 2017: | | | | | | | | | | | | | | | | | | Fair Value Measurements Using | | | (in thousands) | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total | Investments in equity securities | $ | 10,993 |
| | $ | — |
| | $ | — |
| | $ | 10,993 |
| Mutual funds | 7,962 |
| | — |
| | — |
| | 7,962 |
|
|
| Fair Value, by Balance Sheet Grouping |
The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series A and Series B and USD Senior Notes, Series A and Series B, as of December 29, 2018 and December 30, 2017 were as follows: | | | | | | | | | | | | | | | | | | December 29, 2018 | | December 30, 2017 | (in thousands) | Carrying Value | | Estimated Fair Value | | Carrying Value | | Estimated Fair Value | Euro Senior Notes, Series A due 2023 | $ | 133,417 |
| | $ | 130,888 |
| | $ | 139,623 |
| | $ | 138,294 |
| Euro Senior Notes, Series B due 2028 | 108,330 |
| | 103,774 |
| | 113,369 |
| | 111,579 |
| USD Senior Notes, Series A due 2022 | 25,000 |
| | 24,115 |
| | 25,000 |
| | 24,737 |
| USD Senior Notes, Series B due 2027 | 100,000 |
| | 94,458 |
| | 100,000 |
| | 99,992 |
| USD Senior Notes, Series A due 2025 | 50,000 |
| | 47,434 |
| | — |
| | — |
| USD Senior Notes, Series B due 2030 | 125,000 |
| | 114,731 |
| | — |
| | — |
|
|
| Details of Impairment of Long-Lived Assets Held and Used by Asset |
The fair value as of the measurement date, net book value as of the end of the year and related impairment charge for assets measured at fair value on a nonrecurring basis subsequent to initial recognition during the fiscal years ended December 31, 2016 were as follows: | | | | | | | | | | | | | | Fiscal Year Ended December 31, 2016 | (in thousands) | Impairment Charge | | Fair Value Measurement (Level 3) | | Net Book Value | Goodwill | $ | 8,794 |
| | $ | — |
| | $ | — |
| Other intangible assets | 6,015 |
| | 680 |
| | 660 |
| Total | $ | 14,809 |
| | $ | 680 |
| | $ | 660 |
|
|
| Fair Value Measurement Inputs and Valuation Techniques |
The following table presents the fair value, valuation techniques and related unobservable inputs for these Level 3 measurements for the fiscal year ended December 31, 2016: | | | | | | | | | | | (in thousands, except rates data) | Fair Value | | Valuation Technique | | Unobservable Inputs | | Rates | Tradename | $ | 680 |
| | Relief from royalty | | Discount rate: | | 18% | | | | | | Royalty rate: | | 1% | | | | | | | | | Customer relationships | $ | — |
| | Excess earnings | | Discount rate: | | 18% | | | | | | Attrition rate: | | 5% |
|