v3.26.1
Fair Value of Financial Instruments
 3 Months Ended
Mar. 28, 2026
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
We record financial assets and liabilities at fair value based on FASB guidance related to fair value measurements. The guidance requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Three levels of inputs may be used to measure fair value:
Level 1 – Quoted prices in active markets for identical assets or liabilities.
Level 2 – Quoted market-based inputs or unobservable inputs that are corroborated by market data.
Level 3 – Unobservable inputs that are not corroborated by market data.
The recorded carrying amounts and fair values of these instruments were as follows:
March 28, 2026
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets measured at NAV(1)
Assets:
Cash equivalents$18,268 $18,268 $18,268 $— $— $— 
Derivative assets, recorded in other current assets442 442 — 442 — — 
Deferred compensation plan assets, recorded in other assets5,163 5,163 — 5,163 — — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,215,186 $843,673 $— $843,673 $— $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities783 783 — 783 — — 
Deferred compensation plan liabilities, recorded in deferred credits and other liabilities5,170 5,170 — 5,170 — — 
December 31, 2025
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets measured at NAV(1)
Assets:
Cash equivalents$65,386 $65,386 $65,386 $— $— $— 
Derivative assets, recorded in other current assets539 539 — 539 — — 
Deferred compensation plan assets, recorded in other assets5,773 5,773 — 5,773 — — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,179,983 $974,915 $— $974,915 $— $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities624 624 — 624 — — 
Deferred compensation plan liabilities, recorded in deferred credits and other liabilities5,778 5,778 — 5,778 — — 
Derivative assets and liabilities reported in level 2 primarily include: (1) as of March 28, 2026, foreign currency derivative contracts; (2) as of December 31, 2025, foreign currency derivative contracts and interest rate collar agreements. Refer to Note 18 - Derivative Financial Instruments to our unaudited condensed consolidated financial statements included in this Form 10-Q for more information.
Deferred compensation plan assets reported in level 2 consist of mutual funds and corporate-owned life insurance.
There are no material non-financial assets or liabilities as of March 28, 2026 or December 31, 2025.