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v3.25.1

Long-Term Debt | 3 Months Ended
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Mar. 29, 2025
Long-Term Debt [Abstract] |
Long-Term Debt | Note 5 – Long-Term Debt Long-term debt consists of the following:
|  | March 29, 2025 |  |  | December 31, 2024 |
Credit facility |  | $ | 218,000 |  |  | $ | 136,000 |
Convertible senior notes, due 2025 |  |  | 41,911 |  |  |  | 41,911 |
Convertible senior notes, due 2030 |  |  | 750,000 |  |  |  | 750,000 |
Deferred financing costs |  |  | (21,676 | ) |  |  | (22,892 | )
|  |  | 988,235 |  |  |  | 905,019 |
Less current portion |  |  | - |  |  |  | - |
|  | $ | 988,235 |  |  | $ | 905,019 |
The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of March 29, 2025:
|  | 2025 Notes |  |  | 2030 Notes |
Issuance date |  | June 12, 2018 |  |  | September 12, 2023 |
Maturity date |  | June 15, 2025 | * |  | September 15, 2030 |
Principal amount as of March 29, 2025 |  | $ | 41,911 |  |  | $ | 750,000 |
Cash coupon rate (per annum) |  |  | 2.25 | % |  |  | 2.25 | %
Conversion rate (per $1 principal amount) |  |  | 32.2497 |  |  |  | 33.1609 |
Effective conversion price (per share) |  | $ | 31.01 |  |  | $ | 30.16 |
130% of the current effective conversion price (per share) |  |  | n/a | ** |  | $ | 39.21 |
*As the Company has the intent and ability to refinance its convertible senior notes due 2025 (the "2025 Notes") upon maturity using its revolving credit facility, the 2025 Notes remain classified as long-term liabilities. **The 2025 Notes became convertible on December 15, 2024 and will remain convertible until maturity. Accordingly, 130% of the conversion price of the 2025 Notes is not applicable. Deferred financing costs are recognized as non-cash interest expense. Non-cash interest expense was $1,223 and $1,213 for the fiscal quarters ended March 29, 2025 and March 30, 2024, respectively.

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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 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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