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Long-term Debt, Net (Tables)

12 Months Ended

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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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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