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Debt and Other Commitments (Tables)

12 Months Ended

Jan. 02, 2021

Long-Term Debt and Capital Leases

Long-term debt, including capital lease obligations, consisted of the following at January 2, 2021 and December 28, 2019:

		Interest Rate at January 2, 2021				Final Maturity		January 2, 2021				December 28, 2019
								(Amounts in thousands)
Unsecured credit facility		1.15%				2022		$	50,000			$	41,750
2026 notes		3.50%				2026			396,705				396,122
2022 notes		4.38%				2022			399,398				398,906
Accounts receivable securitization facility		1.25%				2022			114,000				26,000
Other notes payable									—				3,730
									960,103				866,508
Current maturities of long-term debt									—				(3,730	)
Long-term debt								$	960,103			$	862,778

Schedule of debt discount, underwriting fees and the legal and other fees

The table below presents the debt discount, underwriting fees and the legal and other fees for issuing the 2026 notes (amounts in thousands):

Total fees for 2026 notes		Amount at Issuance
Debt discount		$	2,108
Underwriting, legal, and other fees			3,634
Total fees		$	5,742

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of January 2, 2021, are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

2021		$	—
2022			564,000
2023			—
2024			—
2025			—
Thereafter			400,000
Total		$	964,000

Reconciliation of Debt Issuance Costs and Debt Discounts to the Net Carrying Value for Each Debt Obligation (Excluding Line of Credit Arrangements)

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at January 2, 2021 (amounts in thousands):

		Face Value				Debt issuance costs and debt discount				Net carrying value
2026 notes		$	400,000			$	3,295			$	396,705
2022 notes			400,000				602				399,398
Total		$	800,000			$	3,897			$	796,103

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at December 28, 2019 (amounts in thousands):

		Face Value				Debt issuance costs and debt discount				Net carrying value
2026 notes		$	400,000			$	3,878			$	396,122
2022 notes			400,000				1,094				398,906
Other notes payable			3,750				20				3,730
Total		$	803,750			$	4,992			$	798,758

Schedule of Deferred Compensation Amount Outstanding

The amounts outstanding at January 2, 2021 and December 28, 2019 were as follows (amounts in thousands):

		January 2, 2021				December 28, 2019
Deferral elections outstanding		$	18,308			$	17,308
Current portion of deferral elections			(1,634	)			(1,750	)
Long-term portion of deferral elections		$	16,674			$	15,558

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the AR facility during Fiscal 2020:

		Amount (thousands)
Balance as of December 28, 2019		$	26,000
Borrowings			212,300
Payments			(124,300	)
Balance as of January 2, 2021		$	114,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available for working capital and general corporate purposes under the AR facility as of January 2, 2021:

		Amount (thousands)
Gross amount available		$	173,100
Outstanding			(114,000	)
Available for withdrawal		$	59,100

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the AR facility during Fiscal 2020:

		Amount (thousands)
High balance		$	154,000
Low balance		$	19,000

Unsecured Credit Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the credit facility during Fiscal 2020:

		Amount (thousands)
Balance as of December 28, 2019		$	41,750
Borrowings			272,600
Payments			(264,350	)
Balance as of January 2, 2021		$	50,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of January 2, 2021:  

		Amount (thousands)
Gross amount available		$	500,000
Outstanding			(50,000	)
Letters of credit			(8,400	)
Available for withdrawal		$	441,600

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the credit facility during Fiscal 2020:

		Amount (thousands)
High balance		$	235,000
Low balance		$	10,000

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