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Debt and Finance Lease Obligations (Tables)
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Debt and Finance Lease Obligations
As of March 29, 2025 and December 28, 2024, debt and finance lease obligations consisted of the following:
As of
March 29, 2025December 28, 2024
(In thousands)
Senior Secured Notes (“2029 Notes”) (1)
$300,000 $300,000 
Revolving Credit Facility (2)
— — 
Unamortized debt issuance costs(2,233)(2,437)
Unamortized bond discount costs(2,374)(2,502)
295,393 295,061 
Finance lease obligations (3)
316,755 292,543 
Less: current portion of finance lease obligations15,503 12,541 
Total debt and finance leases, net of current portions596,645 575,063 

(1) As of March 29, 2025 and December 28, 2024, 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 $295.4 million and $295.1 million as of March 29, 2025 and December 28, 2024, respectively. This balance sheet presentation is net of unamortized discount of $2.4 million and $2.5 million, respectively, and unamortized debt issuance costs of $2.2 million and $2.4 million, respectively, as of March 29, 2025 and December 28, 2024. The Senior Secured Notes are presented in this table at their face value.

(2) Available borrowing capacity under the Revolving Credit Facility was $346.2 million as of March 29, 2025 and December 28, 2024. The available borrowing capacity reflects undrawn letters of credit.

(3) Refer to Note 7, Leases, for interest rates associated with finance lease obligations. Amounts on this line include $125.1 million and $125.1 million as of March 29, 2025 and December 28, 2024, respectively, for sale-leasebacks of real estate in fiscal 2019 and fiscal 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 Fiscal Months Ended
March 29, 2025March 30, 2024
(In thousands)
Interest expense$12,053 $13,109 
Less: Interest income5,473 8,485 
Interest expense, net$6,580 $4,624