Company: WW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029511
Chunk: 367

Company: WW INTERNATIONAL, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 367
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. The Company’s significant financial instruments included long-term debt and interest rate swap agreements as of December 30, 2023. Since there were no outstanding borrowings under the Revolving Credit Facility as of December 28, 2024 and December 30, 2023, the fair value approximated a carrying value of $0 at both December 28, 2024 and December 30, 2023.The fair value of the Company’s Credit Facilities is determined by utilizing average bid prices on or near the end of each fiscal quarter (Level 2 input). As of December 28, 2024 and December 30, 2023, the fair value of the Company’s long-term debt was approximately $320,174 and $996,429, respectively, as compared to the carrying value (net of deferred financing costs and debt discount) of $1,430,643 and $1,426,464, respectively.Derivative Financial InstrumentsThe fair values for the Company’s derivative financial instruments were determined using observable current market information such as the prevailing Term SOFR interest rate and Term SOFR yield curve rates and included consideration of counterparty credit risk. See Note 19 for disclosures related to the Company’s use of derivative financial instruments.The following table presents the aggregate fair value of the Company’s derivative financial instruments:

        Fair Value Measurements Using:

        TotalFairValue

        Quoted Prices inActive Marketsfor Identical Assets(Level 1)

        Significant OtherObservable Inputs(Level 2)

        SignificantUnobservableInputs(Level 3)

        Interest rate swaps current asset at December 28, 2024
         
        $
        —

        $
        —

        $
        —

        $
        —

        Interest rate swaps current asset at December 30, 2023
         
        $
        3,555

        $
        —

        $
        3,555

        $
        —

       The Company did not have any transfers into or out of Levels 1 and 2 and did not maintain any assets or liabilities classified as Level 3 during the fiscal years ended December 28, 2024 and December 30, 2023.

19.Derivative Instruments and HedgingIn June 2023, the Company amended the terms of its then-effective interest rate swap agreements to implement a forward-looking interest rate based on Term SOFR in place of LIBOR. Since the interest rate swap agreements were affected by reference rate reform, the Company applied the expedients and exceptions provided to preserve the past presentation