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Long-term Debt, Net (Tables) | 12 Months Ended
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Dec. 29, 2024
Debt Disclosure [Abstract] |
Schedule of long-term debt, net | Following is a summary of outstanding long-term debt, net, as of the periods indicated:
| DECEMBER 29, 2024 |  | DECEMBER 31, 2023
(dollars in thousands) | OUTSTANDING BALANCE |  | INTEREST RATE |  | OUTSTANDING BALANCE |  | INTEREST RATE
Senior secured credit facility - revolving credit facility (1)(2) | $ | 710,000 |  |  | 6.52 | % |  | $ | — |  |  |
Former credit facility - revolving credit facility (2) | — |  |  |  |  | 381,000 |  |  | 6.96 | %
2025 Notes (3)(4) | 20,724 |  |  | 5.00 | % |  | 104,786 |  |  | 5.00 | %
2029 Notes | 300,000 |  |  | 5.13 | % |  | 300,000 |  |  | 5.13 | %
Long-term debt | 1,030,724 |  |  |  |  | 785,786 |  |  |
Less: unamortized debt discount and issuance costs (3) | (3,326) |  |  |  |  | (5,067) |  |  |
Long-term debt, net | $ | 1,027,398 |  |  |  |  | $ | 780,719 |  |  |
________________ (1)Subsequent to December 29, 2024, the Company repaid $140.0 million on its revolving credit facility, primarily with proceeds from the Brazil Sale Transaction. (2)Interest rate represents the weighted average interest rate as of the respective periods. (3)During 2024, the Company repurchased $83.6 million of the 2025 Notes and as a result, wrote off $0.8 million of debt issuance costs. See Note 11 - Convertible Senior Notes for additional details. (4)Obligations under the 2025 Notes, which mature on May 1, 2025, have been classified as long-term, reflecting the Company’s intent and ability to refinance these notes through borrowings on its existing revolving credit facility.
Schedule of interest rate options | The interest rate spreads are as follows:
| BASE RATE ELECTION |  | ADJUSTED TERM SOFR ELECTION
Revolving credit facility | 50 to 150 basis points over the Base Rate |  | 150 to 250 basis points over the Adjusted Term SOFR
Schedule of maturities of long-term debt | Maturities - Following is a summary of principal payments of the Company’s total consolidated debt outstanding as of December 29, 2024:
| FISCAL YEAR |  |  |  |
(dollars in thousands) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | THEREAFTER |  | TOTAL
Debt repayments | $ | 20,724 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,010,000 |  |  | $ | — |  |  | $ | 1,030,724 |

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