v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements Fair value of debt and the investment in debt securities of the Company’s United Kingdom master franchisee, Lemon Pepper Holdings Ltd. (“LPH”), are determined on a non-recurring basis, which results are summarized as follows (in thousands):
 
Fair Value
Hierarchy
 June 28, 2025December 28, 2024
  
Carrying
Value
 Fair Value
Carrying
Value
Fair Value
Securitized Financing Facility:
2020-1 Class A-2 Senior Secured Notes (1)
Level 2$472,800 $447,505 $472,800 $439,846 
2022-1 Class A-2 Senior Secured Notes (1)
Level 2$248,125 $233,535 $248,125 $230,905 
2024-1 Class A-2 Senior Secured Notes (1)
Level 2$500,000 $508,550 $500,000 $496,050 
Investments in debt securities (2)
Level 3$87,239 $87,239 $3,699 $4,560 
(1) The fair values of the 2020-1, 2022-1, and 2024-1 Class A-2 Senior Secured Notes were estimated using available market information.
(2) The fair value approximates discounted cash flows using current market rates for debt investments with similar maturities and credit risk. Refer to Note 9 for additional information regarding the Company’s investments.