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Financing Arrangements (Tables) | 12 Months Ended
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Dec. 28, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments |
| 2024 |  | 2023
| (in thousands)
Senior secured revolving credit line | $ | — |  |  | $ | — |
Term loan facility | 928,542 |  |  | 945,913 |
Delayed draw term loan facility | 712,500 |  |  | 726,563 |
Convertible senior notes | 745,074 |  |  | 741,501 |
Foreign loans | 8,489 |  |  | 10,531 |
Other debt arrangement | 462 |  |  | 687 |
Total debt | 2,395,067 |  |  | 2,425,195 |
Less: Current maturities of long-term debt | 43,949 |  |  | 44,822 |
Long-term debt | $ | 2,351,118 |  |  | $ | 2,380,373 |
Carrying Value And Fair Value Of Long Term Debt, Disclosure | The carrying value and estimated aggregate fair value, a level 2 measurement, based primarily on market prices, of debt excluding the Convertible Notes is as follows (in thousands):
| Dec 28, 2024 |  | Dec 30, 2023
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Total debt excluding convertible senior notes | $ | 1,649,994 |  |  | $ | 1,652,702 |  |  | $ | 1,683,694 |  |  | $ | 1,687,781 |
The company uses floating-to-fixed interest rate swap agreements to hedge variable interest rate risk associated with the Credit Facility. At December 28, 2024, the company had outstanding floating-to-fixed interest rate swaps totaling $225.0 million notional amount carrying an average interest rate of 2.59% maturing in less than 12 months and $470.0 million notional amount carrying an average interest rate of 1.22% that mature in more than 12 months but less than 38 months.
Convertible Debt | The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes:
| December 28, 2024 |  | December 30, 2023 |  |
| (in thousands)
Principal amounts: |  |  |  |  |
Principal | $ | 747,499 |  |  | $ | 747,499 |  |  |
Unamortized issuance costs | (2,425) |  |  | (5,998) |  |  |
Net carrying amount | $ | 745,074 |  |  | $ | 741,501 |  |  |
Schedule of Debt Instruments, Interest Expense | The following table summarizes total interest expense recognized related to the Convertible Notes:
| Twelve Months Ended
| Dec 28, 2024 |  | Dec 30, 2023 |  | Dec 31, 2022
Contractual interest expense | $ | 7,433 |  |  | $ | 7,454 |  |  | $ | 7,475 |
Interest cost related to amortization of debt issuance costs | 3,573 |  |  | 3,583 |  |  | 3,587 |
Total interest expense | $ | 11,006 |  |  | $ | 11,037 |  |  | $ | 11,062 |
Schedule of Maturities of Long-term Debt |
2025 (1) | $ | 789,023 |
2026 | 1,600,151 |
2027 | 828 |
2028 | 693 |
2029 and thereafter | 4,372 |
| $ | 2,395,067 |
(1) The current year debt payable includes the maturities of the convertible notes.

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