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Long-Term Debt (Tables) | 6 Months Ended
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Jul. 02, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | As of July 2, 2022 and January 1, 2022, long-term debt consisted of the following:
| July 2, 2022 |  | January 1, 2022
(In thousands)
Senior secured notes (1) | $ | 300,000 |  |  | $ | 300,000 |
Revolving credit facility (2) | — |  |  | — |
Finance lease obligations (3) | 271,425 |  |  | 274,717 |
| 571,425 |  |  | 574,717 |
Unamortized debt issuance costs | (4,462) |  |  | (4,701) |
Unamortized bond discount costs | (3,774) |  |  | (4,028) |
| 563,189 |  |  | 565,988 |
Less: current maturities of long-term debt | 8,036 |  |  | 7,864 |
Long-term debt, net of current maturities | $ | 555,153 |  |  | $ | 558,124 |
(1)As of July 2, 2022 and January 1, 2022, our long-term debt was comprised of $300.0 million of senior secured notes issued in October 2021. These notes are presented under the “Long-term debt” caption of our condensed consolidated balance sheets at $291.8 million and $291.3 million at July 2, 2022 and January 1, 2022, respectively. This presentation is net of their discount of $3.8 million and $4.0 million and the combined carrying value of our debt issuance costs of $4.5 million and $4.7 million at July 2, 2022 and January 1, 2022, respectively. Our senior secured notes are presented in this table at their face value. (2) The average effective interest rate was zero percent and 2.5 percent for the quarters ended July 2, 2022 and July 3, 2021, respectively. (3) Refer to Note 9, Leases, for interest rates associated with finance lease obligations.

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