Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | Note 11: Fair Value Measurements Fair Value of Financial Instruments The following tier level hierarchy is used to determine fair values of the financial instruments: •Level 1: based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. •Level 2: based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. •Level 3: based on the use of unobservable inputs for the assets and liabilities and other types of analyses. The carrying values of cash and cash equivalents, which include money market funds and demand and time deposits, approximate fair value because of the short-term maturity of these instruments. Money market funds and demand deposits are classified as Level 1 while time deposits are classified as Level 2 within the fair value hierarchy. The carrying amounts of other current assets, excluding assets held-for-sale, and liabilities, such as accounts receivable and accounts payable, approximate fair value due to the short-term maturity of the amounts, and such amounts are considered Level 2 in the fair value hierarchy. The Company held $250.0 million and $300.0 million of short-term investments in time deposits as of April 4, 2025 and December 31, 2024, respectively. Fair Value of Long-Term Debt, including Current Portion The carrying amounts and fair values of the Company's long-term borrowings were as follows (in millions):
(1) Carrying amounts shown are net of unamortized debt discount, if applicable, and unamortized debt issuance costs. Fair values of the 0% Notes, 0.50% Notes and 3.875% Notes were estimated based on market prices in active markets (Level 1), and the Revolving Credit Facility was estimated based on discounting the remaining principal and interest payments using current market rates for similar debt (Level 2).
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