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Long-Term Debt
 6 Months Ended
Jun. 28, 2024
Debt Disclosure [Abstract]  
Long-Term Debt
Note 8 – Long-Term Debt
Long‑term debt consists of the following:
June 28,
2024		December 29,
2023
Term loan$131,250 $135,000 
Revolving credit facility— 115,000 
Total principal amount of long-term debt131,250 250,000 
Less unamortized debt issuance costs(1,085)(1,317)
Total long-term debt, net130,165 248,683 
Less current portion(7,500)(7,500)
Total long-term debt, less current portion, net$122,665 $241,183 
On October 29, 2021, we entered into an amended and restated credit agreement, which includes a group of financial institutions as direct lenders under the agreement. The credit agreement includes a $150.0 million term loan facility and a $250.0 million revolving credit facility (together, “credit facilities”). Term loan principal payments of $1.9 million are due on a quarterly basis. The credit facilities mature, and amounts due thereunder become payable, on October 29, 2026.
Interest is charged at either the Base Rate or the Bloomberg Short-Term Bank Yield (“BSBY”) Rate (as such terms are defined in the credit agreement) at our option, plus an applicable margin. The Base Rate is equal to the higher of i) the Prime Rate, ii) the Federal Funds Rate plus 0.5%, or iii) the BSBY Rate plus 1.00%. The BSBY Rate is equal to BSBY for a particular tenor matching the respective interest period. The applicable margin on Base Rate and BSBY Rate loans is 0.375% to 1.375% and 1.375% to 2.375% per annum, respectively, depending on our leverage ratio, which is based on trailing 12-month Consolidated EBITDA, as defined in our credit agreement. We are also charged a commitment fee of 0.175% to 0.350%, depending on our leverage ratio, on the unused portion of our revolving credit facility. Base Rate interest payments and commitment fees are due quarterly. BSBY Rate interest payments are due on the last day of the applicable interest period, or quarterly for applicable interest periods longer than three months. As of June 28, 2024, our credit facilities bore interest under the BSBY rate option at 7.27%.