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Debt and Finance Leases (Tables)

9 Months Ended

Sep. 28, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Debt and finance leases included the following:

			September 28, 2024						December 31, 2023
ABL Credit Facility due December 2025: $135 million net availability, bearing interest of 6.94% (4.94% adjusted SOFR plus 2.00% margin) at September 28, 2024			$	—					$	—
Term Loan due July 2027: bearing interest of 12.59% (4.59% three-month Term SOFR plus 8.00% margin) at September 28, 2024			246,250						250,000
7.625% Senior Secured Notes due January 2026			452,640						464,640
5.50% CAD-based term loan due April 2028			24,881						30,479
Other loans(a)			60,212						44,754
Short-term factoring facility			4,090						5,292
Finance lease obligations			1,033						1,355
Total principal payments due			789,106						796,520
Less: unamortized premium, discount and issuance costs			(15,853)						(19,063)
Total debt			773,253						777,457
Less: debt due within one year			(25,578)						(25,283)
Long-term debt			$	747,675					$	752,174

(a)Consist of low-interest green loans for energy projects and other loans intended for use in biomaterials projects in France.

Schedule of Maturities of Long-term Debt

As of September 28, 2024, the Company’s debt principal payments, excluding finance lease obligations, were due as follows:

Remainder of 2024(a)			$	11,577
2025(b)			19,437
2026(c)			472,391
2027(d)			247,048
2028			11,422
Thereafter			26,198
Total debt principal payments			$	788,073

(a)Includes $3 million of the $246 million outstanding principal balance of the 2027 Term Loan. The 2027 Term Loan and 2026 Notes will be fully redeemed with the proceeds of the 2029 Term Loan in the fourth quarter of 2024. The 2029 Term Loan will mature in October 2029. See Note 1—Basis of Presentation for further information regarding the 2029 Term Loan issuance and the refinancing of the 2026 Notes and 2027 Term Loan.

(b)Includes $5 million principal of the 2027 Term Loan.

(c)Includes the $453 million outstanding principal balance of the 2026 Notes and $5 million principal of the 2027 Term Loan.

(d)Includes the remaining $234 million principal balance of the 2027 Term Loan.

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