XML 55 R47.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Borrowings - Additional Information (Details)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 28, 2024
USD ($)
Dec. 15, 2021
USD ($)
Oct. 27, 2021
USD ($)
Aug. 24, 2021
USD ($)
Dec. 11, 2020
USD ($)
TradingDay
$ / shares
Jan. 16, 2020
USD ($)
Mar. 31, 2024
USD ($)
$ / shares
Mar. 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jul. 27, 2022
USD ($)
Jul. 22, 2022
USD ($)
Jan. 29, 2020
USD ($)
Debt Instrument [Line Items]                          
Borrowings under Credit Facilities             $ 148,000 $ 54,000          
Repayments of lines of credit             171,000 58,000          
Line of credit facility, borrowing availability             160,000   $ 137,000        
Outstanding aggregate principal amount             $ 737,500 616,000          
Interest rate             6.00%            
Debt instrument, conversion of principal amount             $ 48,916   48,757        
2025 Notes                          
Debt Instrument [Line Items]                          
Unamortized deferred financing costs, net             1,500   2,000        
Unamortized deferred finance costs             $ 1,500   2,000        
Aggregate principal amount of unsecured notes                     $ 7,500 $ 50,000  
Outstanding aggregate principal amount                     $ 182,500    
Debt instrument, maturity date           Jan. 16, 2025              
Debt instrument, redemption, description             The 2025 Notes are redeemable, in whole or in part, at any time, or from time to time, at the Company’s option, on or after January 16, 2023 at a redemption price equal to 100% of the outstanding principal amount thereof, plus accrued and unpaid interest to, but excluding, the date of redemption.            
Debt instrument, redemption price, percentage of principal amount redeemed           100.00%              
Interest rate           7.00%              
Debt instrument, interest rate terms             The 2025 Notes bear interest at a fixed rate of 7.00% per year payable quarterly on March 15, June 15, September 15, and December 15 of each year, commencing on March 15, 2020.            
Financing costs capitalized and deferred             $ 7,800            
2025 Notes | Unsecured Notes                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes           $ 105,000 125,000           $ 20,000
August 2026 Notes                          
Debt Instrument [Line Items]                          
Unamortized deferred financing costs, net             1,400   $ 1,500        
Unamortized deferred finance costs             $ 1,400     $ 1,500      
Debt instrument, maturity date       Aug. 24, 2026                  
Debt instrument, redemption, description             The August 2026 Notes are redeemable, in whole or in part, at any time, or from time to time, at the Company’s option, at a redemption price equal to the greater of (1) 100% of the principal amount of the August 2026 Notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of accrued and unpaid interest to the date of redemption) on the August 2026 Notes to be redeemed, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using the applicable treasury rate plus 50 basis points, plus, in each case, accrued and unpaid interest to the redemption date; provided, however, that if the Company redeems any August 2026 Notes on or after July 24, 2026, the redemption price for the August 2026 Notes will be equal to 100% of the principal amount of the August 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. In addition, if a change of control repurchase event (as defined in the August 2026 Notes Indenture) occurs prior to the maturity date of the August 2026 Notes or the Company’s redemption of all outstanding August 2026 Notes, the Company will be required, subject to certain conditions, to make an offer to the holders thereof to repurchase for cash some or all of the August 2026 Notes at a repurchase price equal to 100% of the principal amount of the August 2026 Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.            
Debt instrument, redemption price, percentage of principal amount redeemed       100.00%                  
Interest rate       4.375%     4.375%   4.375%        
Debt instrument, interest rate terms             The August 2026 Notes bear interest at a fixed rate of 4.375% per year payable semiannually on February 15 and August 15 of each year, commencing on February 15, 2022.            
Financing costs capitalized and deferred             $ 2,900            
August 2026 Notes | Unsecured Notes                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes       $ 125,000                  
December 2026 Notes                          
Debt Instrument [Line Items]                          
Unamortized deferred financing costs, net             $ 1,000   $ 1,100        
Unamortized deferred finance costs   $ 1,900                      
Debt instrument, maturity date   Dec. 15, 2026                      
Debt instrument, redemption, description             The December 2026 Notes are redeemable, in whole or in part, at any time, or from time to time, at the Company’s option, at a redemption price equal to the greater of (1) 100% of the principal amount of the December 2026 Notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of accrued and unpaid interest to the date of redemption) on the December 2026 Notes to be redeemed, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using the applicable treasury rate plus 50 basis points, plus, in each case, accrued and unpaid interest to the redemption date; provided, however, that if the Company redeems any December 2026 Notes on or after November 15, 2026, the redemption price for the December 2026 Notes will be equal to 100% of the principal amount of the December 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. In addition, if a change of control repurchase event (as defined in the December 2026 Notes Indenture) occurs prior to the maturity date of the December 2026 Notes or the Company’s redemption of all outstanding December 2026 Notes, the Company will be required, subject to certain conditions, to make an offer to the holders thereof to repurchase for cash some or all of the December 2026 Notes at a repurchase price equal to 100% of the principal amount of the December 2026 Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.            
Debt instrument, redemption price, percentage of principal amount redeemed   100.00%                      
Interest rate   4.25%         4.25%   4.25%        
Debt instrument, interest rate terms             The December 2026 Notes bear interest at a fixed rate of 4.25% per year payable semiannually on June 15 and December 15 of each year, commencing on June 15, 2022.            
December 2026 Notes | Unsecured Notes                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes   $ 75,000                      
March 2029 Notes                          
Debt Instrument [Line Items]                          
Unamortized deferred financing costs, net             $ 3,200            
Unamortized deferred finance costs             $ 3,200            
Debt instrument, maturity date Mar. 30, 2029                        
Debt instrument, redemption, description             The March 2029 Notes are redeemable, in whole or in part, at any time, or from time to time, at the Company's option on or after March 30, 2026 upon not less than 30 days’ nor more than 60 days’ written notice prior to the date fixed for redemption thereof, at a redemption price equal to 100% of the outstanding principal amount of the March 2029 Notes, plus accrued and unpaid interest payments otherwise payable for the then-current quarterly interest period accrued to, but excluding, the date fixed for redemption. In addition, if a change of control repurchase event (as defined in the March 2029 Notes Indenture) occurs prior to maturity, unless the Company has exercised its right to redeem the March 2029 Notes in full, holders will have the right, at their option, to require the Company to repurchase for cash some or all of the March 2029 Notes at a repurchase price equal to 100% of the principal amount of the March 2029 Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date.            
Debt instrument, redemption price, percentage of principal amount redeemed 100.00%                        
Interest rate 7.875%           7.875%            
Debt instrument, interest rate terms             The March 2029 Notes bear interest at a fixed rate of 7.875% per year payable quarterly on March 30, June 30, September 30 and December 30, commencing on June 30, 2024.            
Financing costs capitalized and deferred             $ 3,200            
March 2029 Notes | Unsecured Notes                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes $ 115,000                        
March 2029 Notes | Unsecured Notes | Underwriters [Member]                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes $ 15,000                        
6.00% Convertible Notes due 2025                          
Debt Instrument [Line Items]                          
Unamortized deferred finance costs             638 1,015          
Aggregate principal amount of unsecured notes             $ 50,000 50,000          
Debt instrument, maturity date         Dec. 11, 2025                
Interest rate         6.00%                
Debt instrument, interest rate terms             The Convertible Notes bear interest at a fixed rate of 6.00% per year, subject to additional interest upon certain events, payable semiannually in arrears on May 1 and November 1 of each year, beginning on May 1, 2021. If an investment grade rating is not maintained with respect to the Convertible Notes, additional interest of 0.75% per annum will accrue on the Convertible Notes until such time as the Convertible Notes have received an investment grade rating of “BBB-” (or its equivalent) or better. The rating remained at investment grade as of March 31, 2024.            
Financing costs capitalized and deferred         $ 1,900                
Additional rate of interest         0.75%                
Debt instrument, date of first required payment         May 01, 2021                
Debt instrument, conversion of principal amount         $ 1,000   $ 48,916 $ 48,278          
Debt instrument, convertible, threshold consecutive trading days | TradingDay         30                
Debt instrument, convertible, threshold percentage         120.00%                
Percentage of repurchase price equal to principal amount of convertible notes to be repurchased         100.00%                
Percentage of estimated at time of issuance that values of debt         99.10%                
Percentage of embedded conversion feature of convertible notes         0.90%                
6.00% Convertible Notes due 2025 | Capital in Excess of Par Value                          
Debt Instrument [Line Items]                          
Percentage of original issue discount         0.90%                
Debt conversion, original issue discount of debt         $ 500                
6.00% Convertible Notes due 2025 | Common Stock                          
Debt Instrument [Line Items]                          
Conversion notes conversion rate         66.6667   78.0543            
Debt instrument, conversion of principal amount         $ 1,000   $ 1,000            
Debt instrument, initial conversion price per share | $ / shares         $ 15   $ 12.81            
6.00% Convertible Notes due 2025 | Private Convertible Note Offering                          
Debt Instrument [Line Items]                          
Aggregate principal amount of unsecured notes         $ 50,000                
KeyBank Credit Facility                          
Debt Instrument [Line Items]                          
Credit facility     $ 350,000       $ 190,000   $ 213,000        
Maximum borrowing capacity     $ 400,000                    
Variable advance rate on eligible term loan     60.00%                    
Variable advance rate on eligible finance loan     64.00%                    
Line of credit facility revolving period     3 years                    
Line of credit facility amortization period     2 years                    
Line of credit facility expiration date     Oct. 27, 2026                    
Borrowings under Credit Facilities             148,000            
Repayments of lines of credit             171,000            
Unamortized deferred financing costs, net             3,600            
Unamortized deferred finance costs             $ 2,000   $ 2,100        
KeyBank Credit Facility | SOFR                          
Debt Instrument [Line Items]                          
Variable interest rate     2.85%