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Long-Term Debt (Tables)

9 Months Ended

Oct. 02, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

As of October 2, 2021, and January 2, 2021, long-term debt consisted of the following:

Debt categories						October 2, 2021						January 2, 2021
						(In thousands)
Revolving Credit Facility (1)						$	223,149					$	288,247
Term Loan Facility (2)						—						43,204
Finance lease obligations (3)						276,920						273,118
						500,069						604,569
Unamortized debt issuance costs						(3,608)						(9,010)
						496,461						595,559
Less: current maturities of long-term debt						5,606						6,846
Long-term debt, net of current maturities						$	490,855					$	588,713

(1) The average effective interest rate was 2.0 percent and 2.8 percent for the quarters ended October 2, 2021 and January 2, 2021, respectively.

(2) The average interest rate, exclusive of fees and prepayment premiums, was 8.0 percent for the quarter ended January 2, 2021.

(3) Refer to Note 9, Leases, for interest rates associated with finance lease obligations.

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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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