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Note 5 - Long-term Debt | 6 Months Ended
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Jun. 29, 2024
Notes to Financial Statements |
Long-Term Debt [Text Block] | Note 5 - Long-Term Debt On September 1, 2022, we entered into an Amended and Restated Credit Agreement (the “2022 Credit Agreement”), which provides for a five-year secured revolving loan facility with an aggregate principal amount of up to $350 million. The revolving loans under the 2022 Credit Agreement may be repaid and reborrowed at our discretion, with any remaining outstanding principal amount due and payable on the maturity date of the revolving loan on September 1, 2027. At June 29, 2024 and December 30, 2023, we had no borrowings outstanding under the 2022 Credit Agreement, as we paid off the outstanding balance of our revolving loans during the third quarter of fiscal 2023. We pay a quarterly commitment fee of 0.20% on the unused portion of the revolving facility. Interest expense related to our long-term debt was included in Interest expense on our Consolidated Statements of Operations as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 29, |  |  | July 1, |  |  | June 29, |  |  | July 1, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Contractual interest |  | $ | - |  |  | $ | 832 |  |  | $ | - |  |  | $ | 2,618 |
Amortization of original issuance discount and debt costs |  |  | 67 |  |  |  | 67 |  |  |  | 133 |  |  |  | 133 |
Total interest expense related to long-term debt |  | $ | 67 |  |  | $ | 899 |  |  | $ | 133 |  |  | $ | 2,751 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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