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Debt and Other Obligations (Tables)

9 Months Ended

Oct. 09, 2021

Long Term Debt (Net of Issuance Costs and Debt Discounts Excluding Line-of-credit Arrangements)

Long-term debt (net of issuance costs and debt discounts excluding line-of-credit arrangements) (leases are separately discussed in Note 4, Leases) consisted of the following at October 9, 2021 and January 2, 2021, respectively (amounts in thousands):

		October 9, 2021				January 2, 2021
Unsecured credit facility		$	—			$	50,000
2031 notes			493,036				—
2026 notes			397,144				396,705
2022 notes			—				399,398
Accounts receivable securitization facility			—				114,000
			890,180				960,103
Less current maturities of long-term debt			—				—
Total long-term debt		$	890,180			$	960,103

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of October 9, 2021 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2021		$	—
2022			—
2023			—
2024			—
2025			—
2026 and thereafter			900,000
Total		$	900,000

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 October 9, 2021 (amounts in thousands):

						Debt Issuance Costs
		Face Value				and Debt Discount				Net Carrying Value
2031 notes		$	500,000			$	6,964			$	493,036
2026 notes			400,000				2,856				397,144
Total		$	900,000			$	9,820			$	890,180

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):

						Debt Issuance Costs
		Face Value				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

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the facility during the forty weeks ended October 9, 2021:

		Amount (thousands)
Balance at January 2, 2021		$	114,000
Borrowings			—
Payments			(114,000	)
Balance at October 9, 2021		$	—

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 facility as of October 9, 2021:

		Amount (thousands)
Gross amount available		$	187,300
Outstanding			—
Available for withdrawal		$	187,300

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the facility during the forty weeks ended October 9, 2021:

		Amount (thousands)
High balance		$	114,000
Low balance		$	—

Unsecured Credit Facility

Schedule of Borrowings and Repayments Under Credit Facility

Amounts outstanding under the credit facility can vary daily. Changes in the gross borrowings and repayments can be caused by cash flow activity from operations, capital expenditures, acquisitions, dividends, share repurchases, and tax payments, as well as derivative transactions, which are part of the company’s overall risk management strategy as discussed in Note 8, Derivative Financial Instruments, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q.  The table below presents the borrowings and repayments under the credit facility during the forty weeks ended October 9, 2021.

		Amount (thousands)
Balance at January 2, 2021		$	50,000
Borrowings			—
Payments			(50,000	)
Balance at October 9, 2021		$	—

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of October 9, 2021:

		Amount (thousands)
Gross amount available		$	500,000
Outstanding			—
Letters of credit			(8,400	)
Available for withdrawal		$	491,600

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 the forty weeks ended October 9, 2021:

		Amount (thousands)
High balance		$	50,000
Low balance		$	—

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