Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 101

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 101
---
 fair value hierarchy, which prioritizes the inputs used in the measuring of fair value:Level 1:    Observable inputs that reflect unadjusted quote prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.Level 2:    Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.Level 3:    Inputs that are generally unobservable. These inputs may be used with internally developed methodologies that result in management's best estimate of fair value.Assets and Liabilities Measured at Fair Value on a Recurring BasisThe carrying amounts of the Company's cash and cash equivalents, accounts receivable, accounts payable, and current accrued expenses and other current liabilities approximate fair value due to the short-term nature or maturity of the instruments.The Company maintains a rabbi trust to fund obligations under a deferred compensation plan. See Note 15. Employee Benefit Programs. Amounts in the rabbi trust are invested in mutual funds, which are designated as trading securities and carried at fair value and are included in other assets, net in the accompanying consolidated balance sheets. Fair market value of mutual funds is measured using Level 1 inputs (quoted prices for identical assets in active markets). 

56

Table of Contents

The following tables present the Company's assets measured at fair value on a recurring basis as of December 29, 2024 and December 31, 2023 (in thousands):December 29, 2024Level 1Level 2Level 3Assets:    Investments in rabbi trust$1,821 $1,821 $— $— Total assets measured at fair value$1,821 $1,821 $— $— December 31, 2023Level 1Level 2Level 3Assets:Investments in rabbi trust$2,079 $2,079 $— $— Total assets measured at fair value$2,079 $2,079 $— $— Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisAssets and liabilities recognized or disclosed at fair value on the consolidated financial statements on a nonrecurring basis include items such as property, plant and equipment, right of use assets, and intangible assets. These assets are measured at fair value if determined to be impaired.During fiscal 2024, 2023, and 2022, the Company measured non-financial assets