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DEBT
 9 Months Ended
Oct. 01, 2023
Debt Disclosure [Abstract]  
DEBT DEBT
A summary of total debt outstanding at October 1, 2023 and December 31, 2022 is as follows:
($ in thousands)October 1, 2023December 31, 2022
Long-term debt:
1.00% convertible notes due 2023
$— $172,500 
Term loan due 2027131,250 136,875 
Revolver due 202785,000 80,289 
7.50% senior notes due 2027
300,000 300,000 
1.75% convertible notes due 2028
258,750 258,750 
4.75% senior notes due 2029
350,000 350,000 
Total long-term debt1,125,000 1,298,414 
Less: convertible notes debt discount, net(5,166)(5,989)
Less: term loan deferred financing costs, net(587)(701)
Less: senior notes deferred financing costs, net(7,129)(8,075)
Less: current maturities of long-term debt(7,500)(7,500)
Total long-term debt, less current maturities, net$1,104,618 $1,276,149 
The Company maintains a senior secured credit facility comprised of a $775 million revolving credit facility (the "Revolver due 2027") and the remaining balance of a $150 million term loan. On February 1, 2023, the Company utilized borrowing capacity under the Revolver due 2027 to satisfy its repayment obligation at maturity of the 1.00% Convertible Senior Notes due 2023 (the "1.00% Convertible Notes"). All noteholders elected to receive cash in repayment of the 1.00% Convertible Notes.
The interest rate for incremental borrowings under the Revolver due 2027 at October 1, 2023 was the Secured Overnight Financing Rate (“SOFR”) plus 1.75% (or 7.17%) for the SOFR-based option. The fee payable on committed but unused portions of the Revolver due 2027 was 0.23% at October 1, 2023.
Total cash interest paid for the third quarter of 2023 and 2022 was $8.1 million and $3.8 million, respectively, and $40.8 million and $30.9 million for the comparative nine months periods, respectively.