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Debt and Finance Lease Obligations (Tables)
 12 Months Ended
Dec. 28, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
As of December 28, 2024, and December 30, 2023, outstanding debt and finance leases consisted of the following:
As of
December 28, 2024December 30, 2023
(In thousands)
Senior secured notes (1)
$300,000 $300,000 
Revolving credit facility (2)
— — 
Unamortized debt issuance costs (1)(4)
(2,437)(3,246)
Unamortized bond discount costs (1)(4)
(2,502)(3,011)
295,061 293,743 
Finance lease obligations (3)
292,543 285,426 
Less: current portions of finance leases12,541 11,178 
Total debt and finance leases, net of current portions$575,063 $567,991 
(1) As of December 28, 2024 and December 30, 2023, 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 the Company’s consolidated balance sheets at $295.1 million and $293.7 million as of December 28, 2024 and December 30, 2023, respectively. This presentation is net of discount of $2.5 million and $3.0 million and the combined carrying value of debt issuance costs of $2.4 million and $3.2 million as of December 28, 2024 and December 30, 2023, respectively. The senior secured notes are presented in the above table at face value and have an annual interest rate of 6.0% through maturity.
(2) No borrowings were outstanding during fiscal 2024 or fiscal 2023. Available borrowing capacity under this revolving credit facility was $346.2 million and $346.5 million on December 28, 2024 and December 30, 2023, respectively. Available borrowing capacity is net of undrawn letters of credit commitments.
(3) Refer to Note 13, Lease Commitments, for interest rates associated with finance lease obligations.
(4) Interest expense, net on the Company’s consolidated statement of operations for fiscal 2024, fiscal 2023, and fiscal 2022 reflects amortization of debt issuance costs and discount costs of $1.3 million, $1.3 million, and $1.2 million, respectively.
Interest Income and Interest Expense Disclosure
Interest expense, net on the Company’s consolidated statements of operations consisted of the following components:
Fiscal Year Ended
December 28, 2024December 30, 2023December 31, 2022
(in thousands)
Interest expense (1)
$47,169 $44,654 $45,500 
Less: interest income27,805 20,908 3,228 
Interest expense, net$19,364 $23,746 $42,272 
(1) Includes amortization of debt issuance costs and bond discount