Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 25, 2021
Fair Value Disclosures [Abstract]  
Measurement of Assets and Liabilities at Fair Value on Recurring Basis
The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis during the period, by level, within the fair value hierarchy:
 
  As of September 25, 2021
  Level 1 Level 2 Level 3 Total
Trading securities $ 1,618  $ —  $ —  $ 1,618 
Interest rate swaps —  (2,016) —  (2,016)
Contingent consideration payable —  —  (13,061) (13,061)
Public warrants (49,500) —  —  (49,500)
Private warrants —  —  (31,680) (31,680)
  As of December 26, 2020
  Level 1 Level 2 Level 3 Total
Trading securities $ 1,911  $ —  $ —  $ 1,911 
Interest rate swaps —  (4,193) —  (4,193)
Contingent consideration payable —  —  (14,197) (14,197)
Fair Value of Company's Fixed Rate Senior Notes and Junior Subordinated Debentures
The fair value of the Company's fixed rate senior notes and junior subordinated debentures as of September 25, 2021 and December 26, 2020 were determined by utilizing current trading prices obtained from indicative market data. As a result, the fair value measurements of the Company's senior term notes and debentures are considered to be Level 2. The Company fully redeemed the 6.375% Senior Notes and Junior Subordinated Debentures in the third quarter of 2021. See Note 12 - Long Term Debt for additional details.
 
  September 25, 2021 December 26, 2020
  Carrying
Amount
Estimated
Fair Value
Carrying
Amount
Estimated
Fair Value
6.375% Senior Notes $ —  $ —  $ 328,333  $ 327,525 
Junior Subordinated Debentures —  —  123,295  128,022