FAIR VALUE MEASUREMENTS |
6 Months Ended |
|---|---|
Jul. 03, 2026 | |
| Fair Value Disclosures [Abstract] | |
| FAIR VALUE MEASUREMENTS | NOTE H: FAIR VALUE MEASUREMENTS We measure certain assets and liabilities at fair value on a recurring basis utilizing a three-level fair value hierarchy that prioritizes inputs based on market observability: •Level 1 — Quoted prices in active markets for identical assets or liabilities. •Level 2 — Observable inputs other than quoted prices included within Level 1, including: quoted prices for similar assets or liabilities in active or inactive markets; quoted prices for identical assets or liabilities in inactive markets; and inputs derived from or corroborated by observable market data. •Level 3 — Unobservable inputs with little or no market activity that are significant to the fair value of the assets or liabilities and reflect our assumptions about market participants’ pricing, using the best available information. We utilize observable inputs whenever available. In certain instances, fair value is estimated using quoted market prices from external pricing services. We assess the methodologies of these services to ensure valuations reflect fair value, including net asset value (“NAV”). The NAV reported by an asset manager may be adjusted when sufficient evidence indicates NAV is not representative of fair value. For fair value information related to our embedded derivative and warrant liabilities, long-term debt and deferred compensation plan assets and liabilities, see Note B: Strategic Investment in Subsidiary, Note I: Debt and Credit Arrangements and Note J: Retirement Benefits, respectively, in these Notes.
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