XML 42 R23.htm IDEA: XBRL DOCUMENT v3.23.1
Long-Term Debt (Tables)
 3 Months Ended
Apr. 01, 2023
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
As of April 1, 2023 and December 31, 2022, long-term debt consisted of the following:
April 1, 2023December 31, 2022
(In thousands)
Senior secured notes (1)
$300,000 $300,000 
Revolving credit facility (2)
— — 
Finance lease obligations (3)
270,764 273,075 
570,764 573,075 
Unamortized debt issuance costs(3,854)(4,057)
Unamortized bond discount costs(3,393)(3,519)
563,517 565,499 
Less: current maturities of long-term debt5,087 7,089 
Long-term debt, net of current maturities$558,430 $558,410 

(1)As of April 1, 2023 and December 31, 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 $292.8 million and $292.4 million at April 1, 2023 and December 31, 2022, respectively. This presentation is net of their discount of $3.4 million and $3.5 million and the combined carrying value of our debt issuance costs of $3.9 million and $4.1 million at April 1, 2023 and December 31, 2022, respectively. Our senior secured notes are presented in this table at their face value.

(2) The average effective interest rate for our revolving credit facility was zero percent for the quarters ended April 1, 2023 and April 2, 2022.

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