The table below presents the balances of assets and liabilities measured at fair value as of June 29, 2025, December 31, 2024, and June 30, 2024 on a recurring basis as well as the fair values of other financial instruments, including their locations within the unaudited condensed consolidated balance sheets:


(In thousands)	Balance Sheet Location	Fair Value Hierarchy Level	June 29, 2025				December 31, 2024				June 30, 2024
			Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investments	Other current assets	Level 1	$	311	$	311	$	290	$	290	$	399	$	399

Other financial assets (liabilities):
Term debt	Long-Term Debt (1)	Level 2	$	(1,492,500)	$	(1,495,679)	$	(995,000)	$	(999,353)	$	(1,000,000)	$	(997,500)

2027 notes at 5.375%	Long-Term Debt (1)	Level 1	$	(500,000)	$	(500,000)	$	(500,000)	$	(493,700)	$	(500,000)	$	(491,250)
2028 notes at 6.500%	Long-Term Debt (1)	Level 1	$	(300,000)	$	(304,677)	$	(300,000)	$	(301,161)	$	(300,000)	$	(300,000)
2029 notes at 5.250%	Long-Term Debt (1)	Level 1	$	(500,000)	$	(488,280)	$	(500,000)	$	(480,755)	$	(500,000)	$	(477,500)
2025 notes at 7.000%	Long-Term Debt (1)	Level 2	—		—		$	(200,000)	$	(199,624)	—		—
2027 notes at 5.500%	Long-Term Debt (1)	Level 2	$	(500,000)	$	(499,065)	$	(500,000)	$	(496,845)	—		—
2031 notes at 7.250%	Long-Term Debt (1)	Level 2	$	(800,000)	$	(821,624)	$	(800,000)	$	(817,288)	—		—
2032 notes at 6.625%	Long-Term Debt (1)	Level 2	$	(850,000)	$	(873,528)	$	(850,000)	$	(861,433)	—		—

(1)Carrying values of long-term debt balances are before reductions for (1) current maturities of long-term debt of $15.0 million, $210.0 million and $10.0 million as of June 29, 2025, December 31, 2024 and June 30, 2024, respectively; (2) debt issuance costs and original issue discount of $48.6 million, $49.6 million and $29.2 million as of June 29, 2025, December 31, 2024 and June 30, 2024, respectively; and (3) acquisition fair value layers of $21.9 million and $22.6 million as of June 29, 2025 and December 31, 2024, respectively.