v3.24.1.u1
FAIR VALUE (Tables)
 3 Months Ended
Mar. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized below:
 March 30, 2024
Level 1Level 2Level 3Total
Current assets measured at fair value:(in thousands)
Cash equivalents$— $29 $— $29 
Term deposit
— 10,068 — 10,068 
Other assets:
Life insurance policies— 44,617 — 44,617 
Interest rate swap— 1,734 — 1,734 
Total assets measured at fair value$— $56,448 $— $56,448 
Other long-term liabilities measured at fair value:
Contingent consideration$— $— $33,265 $33,265 
Total liabilities measured at fair value$— $— $33,265 $33,265 
 December 30, 2023
Level 1Level 2Level 3Total
Current assets measured at fair value:(in thousands)
Cash equivalents$— $29 $— $29 
Other assets:
Life insurance policies— 40,912 — 40,912 
Interest rate swap— 966 — 966 
Total assets measured at fair value$— $41,907 $— $41,907 
Other long-term liabilities measured at fair value
Contingent consideration$— $— $33,265 $33,265 
Total liabilities measured at fair value$— $— $33,265 $33,265 
During the year ended December 30, 2023, there were no transfers between levels.
The book value and fair value of the Company’s Senior Notes is summarized below:
March 30, 2024December 30, 2023
Book ValueFair ValueBook ValueFair Value
(in thousands)
4.25% Senior Notes due 2028
$500,000 $468,750 $500,000 $478,100 
3.75% Senior Notes due 2029
500,000 453,750 500,000 458,100 
4.00% Senior Notes due 2031
500,000 445,000 500,000 449,350 
Rollforward of Contingent Consideration Related to Previous Acquisitions
The following table provides a rollforward of the contingent consideration related to the Company’s acquisitions.
Three Months Ended
March 30, 2024April 1, 2023
(in thousands)
Beginning balance$33,265 $13,431 
Payments— (2,711)
Total gains or losses (realized/unrealized):
Foreign currency translation— (177)
Ending balance$33,265 $10,543