v3.26.1
Fair Value Measurements and Disclosures (Tables)
3 Months Ended
Apr. 04, 2026
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis at April 4, 2026 and December 31, 2025 (in thousands):

 

 

April 4,
2026

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Fair Value Measurement

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap

 

$

—

 

 

$

470

 

 

$

—

 

 

$

470

 

 

 

 

December 31,
2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Fair Value Measurement

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

4

 

 

$

—

 

 

$

—

 

 

$

4

 

Marketable securities

 

 

10,351

 

 

 

—

 

 

 

—

 

 

 

10,351

 

Interest rate swap

 

 

—

 

 

 

341

 

 

 

—

 

 

 

341

 

Total

 

$

10,355

 

 

$

341

 

 

$

—

 

 

$

10,696

 

Summary of Carrying Values and Estimated Fair Values of Promissory Notes

The carrying value and estimated fair value of these promissory notes at April 4, 2026 and December 31, 2025 is summarized as follows:

 

 

April 4,
2026

 

 

December 31,
2025

 

 

 

Carrying
Value

 

 

Estimated Fair
Value

 

 

Carrying
Value

 

 

Estimated Fair
Value

 

Equipment promissory notes

 

$

255,971

 

 

$

257,508

 

 

$

272,726

 

 

$

274,363

 

CTL promissory note

 

$

189,352

 

 

$

187,873

 

 

$

193,324

 

 

$

193,792