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Debt (Tables) | 9 Months Ended
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Sep. 26, 2025
Debt Disclosure [Abstract] |
Summary of Long-term Debt | Following is a summary of the Company’s debt:
(in thousands) |  | Maturity Date |  | Interest Rate |  | Interest Paid |  | Public/ Nonpublic |  | September 26, 2025 |  | December 31, 2024
Senior bonds (the “2025 Senior Bonds”)(1) |  | 11/25/2025 |  | 3.800% |  | Semi-annually |  | Public |  | $ | 350,000 |  |  | $ | 350,000 |
Senior notes |  | 10/10/2026 |  | 3.930% |  | Quarterly |  | Nonpublic |  | 100,000 |  |  | 100,000 |
Senior bonds (the “2029 Senior Bonds”)(2) |  | 6/1/2029 |  | 5.250% |  | Semi-annually |  | Public |  | 700,000 |  |  | 700,000 |
Revolving credit facility(3) |  | 6/10/2029 |  | Variable |  | Varies |  | Nonpublic |  | — |  |  | — |
Senior notes |  | 3/21/2030 |  | 3.960% |  | Quarterly |  | Nonpublic |  | 150,000 |  |  | 150,000 |
Senior bonds (the “2034 Senior Bonds”)(4) |  | 6/1/2034 |  | 5.450% |  | Semi-annually |  | Public |  | 500,000 |  |  | 500,000 |
Unamortized discount on senior bonds(1)(2)(4) |  | Various |  |  |  |  |  |  |  | (1,271) |  |  | (1,482) |
Debt issuance costs |  |  |  |  |  |  |  |  |  | (10,345) |  |  | (12,170) |
Total debt |  |  |  |  |  |  |  |  |  | 1,788,384 |  |  | 1,786,348 |
Less: Current portion of debt(1) |  |  |  |  |  |  |  |  |  | 349,945 |  |  | 349,699 |
Total long-term debt |  |  |  |  |  |  |  |  |  | $ | 1,438,439 |  |  | $ | 1,436,649 |
(1)The 2025 Senior Bonds were issued at 99.975% of par. As of September 26, 2025 and December 31, 2024, the 2025 Senior Bonds, net of debt issuance costs and unamortized discount, were classified as current portion of debt in the condensed consolidated balance sheets. (2)The 2029 Senior Bonds were issued at 99.843% of par. (3)The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company. (4)The 2034 Senior Bonds were issued at 99.893% of par.

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