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Debt and Finance Lease Obligations (Tables)
 9 Months Ended
Sep. 27, 2025
Debt Disclosure [Abstract]  
Schedule of Debt and Finance Lease Obligations
As of September 27, 2025 and December 28, 2024, debt and finance lease obligations consisted of the following:
As of
September 27, 2025December 28, 2024
(In thousands)
Senior Secured Notes (“2029 Notes”) (1)
$300,000 $300,000 
Revolving credit facilities (2)
— — 
Unamortized debt issuance costs(1,438)(2,437)
Unamortized bond discount costs(2,119)(2,502)
296,443 295,061 
Finance lease obligations (3)
321,804 292,543 
Less: current portion of finance lease obligations19,725 12,541 
Total debt and finance leases, net of current portions$598,522 $575,063 

(1) As of September 27, 2025 and December 28, 2024, long-term debt was comprised of $300 million of Senior Secured Notes (“2029 Notes”) issued in October 2021 and maturing November 15, 2029. These notes are presented under the Long-term debt caption of the Company’s unaudited condensed consolidated balance sheets in the net amounts of $296.4 million and $295.1 million as of September 27, 2025 and December 28, 2024, respectively. This balance sheet presentation is net of unamortized discount of $2.1 million and $2.5 million, respectively, and unamortized debt issuance costs of $1.4 million and $2.4 million, respectively, as of September 27, 2025 and December 28, 2024. The Senior Secured Notes are presented in this table at their face value.

(2) Available borrowing capacity under revolving credit facility was $347.3 million and $346.2 million as of September 27, 2025 and December 28, 2024, respectively. 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 September 27, 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. Under these sale-leaseback arrangements, the Company is not entitled to legal ownership of the assets at any time, including at expiration of the arrangements, nor is the Company entitled to purchase the assets at a bargain purchase price.


Interest expense, net on the Company’s unaudited condensed consolidated statements of operations consisted of the following components:
Three Fiscal Months EndedNine Fiscal Months Ended
September 27, 2025September 28, 2024September 27, 2025September 28, 2024
(In thousands)
Interest expense$12,540 $11,668 $37,233 $35,958 
Less: Interest income3,937 7,049 13,593 21,914 
Interest expense, net$8,603 $4,619 $23,640 $14,044