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FAIR VALUE
 4 Months Ended
Apr. 19, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
Assets Measured at Fair Value on a Recurring Basis
Fixed income debt securities
The fair values of fixed income debt securities were based on the market values obtained from an independent asset management service. The asset management service utilizes the market approach in determining the fair values of the investments held by the Company. Typical inputs and assumptions to pricing models used to value the Company’s investments in fixed income debt securities include, but are not limited to, benchmark yields, reported trades, broker-dealer quotes, credit spreads, credit ratings, bond insurance (if applicable), benchmark securities, bids, offers, reference data, and industry and economic events. For asset backed securities, inputs and assumptions may also include the structure of issuance, characteristics of the issuer, collateral attributes, and prepayment speeds.
Note Receivable
The Company has elected to account for the Note Receivable described in Note 3 (Investments) under the fair value option. As a result, the embedded conversion feature, which would otherwise require bifurcation, is not accounted for separately. The fair value of the Note Receivable is determined under a market approach utilizing Level 3 inputs such as estimates of the equity value of the underlying business, volatility, and a probability-weighted expected time to exit.
The fair value of the Company’s assets that are measured on a recurring basis was as follows:
(in thousands)April 19, 2026
Security Type CategoryLevel 1Level 2Level 3Total
Asset backed$— $14,137 $— $14,137 
Commercial deposits— 3,160 — 3,160 
Commercial paper— 3,966 — 3,966 
Corporate bonds— 58,304 — 58,304 
U.S. government bonds27,622 — — 27,622 
Fixed income debt securities$27,622 $79,567 $— $107,189 
Note Receivable$— $— $10,715 $10,715 
(in thousands)December 28, 2025
Security Type CategoryLevel 1Level 2Level 3Total
Asset backed$— $13,808 $— $13,808 
Commercial deposits— 3,091 — 3,091 
Commercial paper— 2,307 — 2,307 
Corporate bonds— 64,519 — 64,519 
U.S. government bonds26,387 — — 26,387 
Fixed income debt securities$26,387 $83,725 $— $110,112 
Note Receivable$— $— $5,291 $5,291 
Assets Measured at Fair Value on a Non-recurring Basis—Assets recognized or disclosed at fair value in the accompanying unaudited condensed consolidated financial statements on a nonrecurring basis may include items such as property and equipment, net, operating lease assets, goodwill, and intangible assets. These assets are measured at fair value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For the sixteen weeks ended April 19, 2026 and April 20, 2025, the Company recorded asset impairments of $1.7 million and $1.1 million, respectively, related to certain of the Company’s restaurants, which utilized nonrecurring fair value measurements. The fair value of these assets was determined using an income approach (discounted cash flow method), which was measured using Level 3 inputs. Unobservable inputs include projected restaurant revenues and expenses and the discount rate.