XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.24.3

Debt and Finance Lease Obligations (Tables) | 9 Months Ended
--- | ---
Sep. 28, 2024
Debt Disclosure [Abstract] |
Schedule of Debt and Finance Lease Obligations | As of September 28, 2024 and December 30, 2023, debt and finance lease obligations consisted of the following:
| September 28, 2024 |  | December 30, 2023
(In thousands)
Senior Secured Notes (“2029 Notes”) (1) | $ | 300,000 |  |  | $ | 300,000 |
Revolving Credit Facility (2) | — |  |  | — |
Finance lease obligations (3) | 293,810 |  |  | 285,426 |
| 593,810 |  |  | 585,426 |
Unamortized debt issuance costs | (2,629) |  |  | (3,246) |
Unamortized bond discount costs | (2,638) |  |  | (3,011) |
| 588,543 |  |  | 579,169 |
Less: current portion of finance lease obligations | 12,547 |  |  | 11,178 |
Total, net of current portion | $ | 575,996 |  |  | $ | 567,991 |
(1) As of September 28, 2024 and December 30, 2023, long-term debt was comprised of $300 million of Senior Secured Notes (“2029 Notes”) issued in October 2021. These notes are presented under the Long-term debt caption of the Company’s unaudited condensed consolidated balance sheets at $294.7 million and $293.7 million as of September 28, 2024 and December 30, 2023, respectively. This balance sheet presentation is net of unamortized discount of $2.6 million and $3.0 million, respectively, and unamortized debt issuance costs of $2.6 million and $3.2 million, respectively, as of September 28, 2024 and December 30, 2023. The Senior Secured Notes are presented in this table at their face value. (2) Available borrowing capacity under the Revolving Credit Facility was $346.5 million as of September 28, 2024 and December 30, 2023. The available borrowing capacity reflects undrawn letters of credit. (3) Refer to Note 8, Leases, for interest rates associated with finance lease obligations. Amounts on this line include $125.1 million and $125.0 million as of September 28, 2024 and December 30, 2023, respectively, for sale-leasebacks of real estate in fiscal 2019 and 2020 that did not qualify for sale treatment for accounting purposes. Interest expense, net on the Company’s unaudited condensed consolidated statements of operations consisted of the following components:
| Three Months Ended |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
| (In thousands)
Interest expense | $ | 11,668 |  |  | $ | 11,394 |  |  | $ | 35,958 |  |  | 33,977 |
Interest income | 7,049 |  |  | 5,817 |  |  | 21,914 |  |  | 14,402 |
Interest expense, net | $ | 4,619 |  |  | $ | 5,577 |  |  | $ | 14,044 |  |  | $ | 19,575 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration