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LONG-TERM DEBT (Tables)
12 Months Ended
Jan. 01, 2022
Debt Disclosure [Abstract]  
Schedule of long-term debt
Long-term debt consisted of the following:
(dollars in thousands)January 1, 2022January 2, 2021
$500 million, 5.500% Senior Notes due 2025
$500,000 $500,000 
$500 million, 5.625% Senior Notes due 2027
500,000 500,000 
Total senior notes$1,000,000 $1,000,000 
Less: unamortized issuance-related costs for senior notes(8,630)(10,470)
      Senior notes, net$991,370 $989,530 
Secured revolving credit facility— — 
Total long-term debt, net
$991,370 $989,530 
Schedule of redemption price applicable where redemption occurs The
redemption price is applicable when the redemption occurs during the twelve-month period beginning on May 15 of each of the years indicated is as follows:
YearPercentage
2022102.75 %
2023101.38 %
2024 and thereafter100.00 %
The redemption price is applicable when the redemption occurs during the twelve-month period beginning on March 15 of each of the years indicated is as follows:
YearPercentage
2022102.81 %
2023101.41 %
2024 and thereafter100.00 %