XML 27 R20.htm IDEA: XBRL DOCUMENT v3.24.3
Subsequent Events
9 Months Ended
Oct. 01, 2024
Subsequent Events [Abstract]  
Subsequent Events

11. SUBSEQUENT EVENTS

Effective October 29, 2024, we entered into an Amendment No. 1 (Conforming Changes) to Fourth Amended and Restated Credit Agreement (“the Amendment”) with Bank of America, N.A. (“BofA”), as the Administrative Agent pursuant to which the Company modified the Fourth Amended and Restated Credit Agreement (the “Credit Agreement”), dated November 3, 2021, with Bank of America, N.A. BofA, JPMorgan Chase Bank, N.A., and certain other parties. Pursuant to the Amendment, the referenced interest rate was changed from the Bloomberg Short-Term Bank Yield Index rate (“BSBY”) (which will no longer be reported effective in November 2024), to a term Secured Overnight Financing Rate (“Term SOFR”). The impact of this change is expected to be immaterial on our Consolidated Statements of Operations. See Note 4 for further information.