COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 29, 2026

Commitments and Contingencies Disclosure [Abstract]

Workers’ compensation commitments

We have provided our insurance carriers and certain states with commitments in the form and amounts listed below:


(in thousands)	March 29, 2026		December 28, 2025
Cash collateral held by workers’ compensation insurance carriers	$	3,403	$	3,376
Cash and cash equivalents held in Trust	11,684		11,424
Investments held in Trust	64,616		70,601
Letters of credit (1)	3,150		3,385
Surety bonds (2)	21,216		21,116
Total collateral commitments	$	104,069	$	109,902

(1)We have agreements with certain financial institutions to issue letters of credit as collateral.

(2)Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days’ notice.

Legal contingencies and developments

We are involved in various proceedings arising in the normal course of conducting business. We believe the liabilities included in our financial statements reflect the probable loss that can be reasonably estimated and are immaterial. We also believe that the aggregate range of reasonably possible losses for the Company's exposure in excess of the amount accrued is expected to be immaterial to the Company. It remains possible that despite our current belief, material differences in actual outcomes or changes in management's evaluation or predictions could arise that could have a material effect on the Company's financial condition, results of operations or cash flows.