v3.25.2
Fair Value Measurements
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

7. FAIR VALUE MEASUREMENTS

The carrying amounts of cash and cash equivalents, patient accounts receivable, accounts payable, accrued expenses and other current liabilities approximate their fair values due to the short-term maturities of the instruments.

The Company’s other assets measured at fair value were as follows (amounts in thousands):

 

Fair Value Measurements at June 28, 2025

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

Interest rate cap agreements

$

-

 

$

11,417

 

$

-

 

$

11,417

 

Interest rate swap agreements

 

-

 

 

9,283

 

 

-

 

 

9,283

 

Total derivative assets

$

-

 

$

20,700

 

$

-

 

$

20,700

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 28, 2024

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

Interest rate cap agreements

$

-

 

$

22,543

 

$

-

 

$

22,543

 

Interest rate swap agreements

 

-

 

 

15,737

 

 

-

 

 

15,737

 

Total derivative assets

$

-

 

$

38,280

 

$

-

 

$

38,280

 

The fair values of the interest rate swap and cap agreements are based on the estimated net proceeds or costs to settle the transactions as of the respective balance sheet dates. The valuations are based on commercially reasonable industry and market practices for valuing similar financial instruments. See Note 8 – Derivative Financial Instruments for further details on the Company’s interest rate swap and cap agreements.