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DEBT | 9 Months Ended
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Sep. 28, 2025
Debt Disclosure [Abstract] |
DEBT | DEBT A summary of total debt outstanding at September 28, 2025 and December 31, 2024 is as follows:
($ in thousands) |  | September 28, 2025 |  | December 31, 2024
Long-term debt: |  |  |  |
Term loan due 2029 |  | $ | 120,313 |  |  | $ | 123,438 |
Revolver due 2029 |  | 110,000 |  |  | 100,000 |
1.75% convertible notes due 2028 |  | 258,722 |  |  | 258,750 |
4.75% senior notes due 2029 |  | 350,000 |  |  | 350,000 |
6.375% senior notes due 2032 |  | 500,000 |  |  | 500,000 |
Total debt |  | 1,339,035 |  |  | 1,332,188 |
Less: convertible notes deferred financing costs, net |  | (3,173) |  |  | (3,915) |
Less: term loan deferred financing costs, net |  | (458) |  |  | (543) |
Less: senior notes deferred financing costs, net |  | (8,811) |  |  | (9,796) |
Less: current maturities of long-term debt |  | (6,250) |  |  | (6,250) |
Total long-term debt, less current maturities, net |  | $ | 1,320,343 |  |  | $ | 1,311,684 |
As of September 28, 2025, the Company maintained a senior secured credit facility comprised of a $875 million revolving credit facility (the "Revolver due 2029") and a $125 million term loan (the "Term Loan due 2029") and together with the Revolver due 2029, (the "2024 Credit Facility"). The interest rate for incremental borrowings under the Revolver due 2029 as of September 28, 2025 was the Secured Overnight Financing Rate (“SOFR”) plus 1.75% (or 5.91%) for the SOFR-based option. The fee payable on committed but unused portions of the Revolver due 2029 was 0.225% as of September 28, 2025. Total cash interest paid was $4.0 million and $38.6 million for the third quarter and nine months ended September 28, 2025, respectively, and $4.7 million and $44.9 million for the third quarter and nine months ended September 29, 2024, respectively. Conditional Conversion Feature of the 1.75% Convertible Senior Notes due 2028 As of September 28, 2025, the conditional conversion feature of the 1.75% Convertible Senior Notes due 2028 (the “1.75% Convertible Notes”) related to the price of our common stock equaling or exceeding 130% of the conversion price was triggered. As a result, the 1.75% Convertible Notes are convertible, in whole or in part, at the option of the holders from October 1, 2025 to December 31, 2025. Whether the 1.75% Convertible Notes will be convertible in subsequent periods will depend on the continued satisfaction of this condition or another conversion condition in the future. The 1.75% Convertible Notes were also convertible in each calendar quarter beginning with the quarter ended December 31, 2024 based on satisfying this condition in the respective prior calendar quarter. The 1.75% Convertible Notes converted during the period from January 1, 2025 to September 30, 2025 were immaterial. The Company has the intent and ability to utilize available borrowing capacity under the Revolver due 2029 to satisfy any cash conversion obligations that it may have, should holders choose to exercise their conversion rights during the period noted above.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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