XML 71 R57.htm IDEA: XBRL DOCUMENT v3.23.2
Long-Term Debt - Additional Information (Detail)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 30, 2025
Apr. 14, 2024
Jul. 01, 2023
USD ($)
Apr. 13, 2021
USD ($)
Dec. 31, 2021
USD ($)
Jul. 01, 2023
USD ($)
Jan. 01, 2022
USD ($)
Jul. 03, 2021
USD ($)
Jul. 01, 2023
USD ($)
Mar. 29, 2025
Apr. 15, 2024
Mar. 30, 2024
Dec. 31, 2022
USD ($)
Debt Instrument                          
Loan outstanding amount     $ 1,445,000,000     $ 1,445,000,000     $ 1,445,000,000       $ 1,445,000,000
Aggregate principal amount     1,424,374,000     1,424,374,000     1,424,374,000       1,422,284,000
Fees incurred in connection with debt refinancing               $ 37,910,000          
Unamortized debt discount     $ 10,915,000     $ 10,915,000     $ 10,915,000       $ 12,064,000
Loss on early extinguishment of debt               29,169,000          
Financing costs in connection with debt refinancing               9,017,000          
Write-off of pre-existing deferred financing fees and debt discount               7,213,000          
Percentage of equity interests pledged                 100.00%        
Percentage of annual excess cash flow                 50.00%        
Percentage of annual excess cash flow after attaining first lien secured net leverage ratio one                 25.00%        
Percentage of annual excess cash flow after attaining first lien secured net leverage ratio two                 0.00%        
Percentage of net cash proceeds of certain non ordinary course asset sales by company and its restricted subsidiaries                 100.00%        
Percentage of right to invest of net cash proceeds of certain non ordinary course asset sales by company and its restricted subsidiaries subject to certain qualifications                 100.00%        
Percentage of net proceeds of any issuance or incurrence of debt by the Company or any of its restricted subsidiaries                 100.00%        
Effective Interest Rate [1]     7.35%     7.35%     7.35%       5.45%
Average interest rate on outstanding debt, exclusive the impact of swap     7.35%     7.35%     7.35%       5.45%
Average interest rate on outstanding debt, including the impact of swap           6.37%     6.37%       5.50%
One-Month Term Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate     0.11448%                    
Three-Month Term Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate     0.26161%                    
Six-Month Term Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate     0.42826%                    
Twelve-Month Term Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate     0.71513%                    
Maximum                          
Debt Instrument                          
Pledge percentage of first tier foreign subsidiaries directly owned by company or wholly owned subsidiaries                 65.00%        
4.500% Senior Secured Notes due 2029                          
Debt Instrument                          
Debt Instrument Interest Rate Stated Percentage       4.50%                  
Aggregate principal amount       $ 500,000,000                  
Senior Secured Tranche B Term Loan                          
Debt Instrument                          
Repayment of aggregate principal amount       $ 1,189,750,000                  
Debt Instrument, maturity year       2024                  
8.625% Senior Notes due in 2025                          
Debt Instrument                          
Debt Instrument, maturity year       2025                  
Debt instrument redeemed amount       $ 300,000,000                  
Debt Instrument Interest Rate Stated Percentage       8.625%                  
Fees incurred in connection with debt refinancing               12,939,000          
Credit Facilities                          
Debt Instrument                          
Loan outstanding amount     $ 945,000,000     $ 945,000,000     $ 945,000,000        
Proceeds received from long-term debt       $ 1,000,000,000                  
Senior Secured Revolving Credit Facility Due in 2022                          
Debt Instrument                          
Loan outstanding amount       $ 0                  
Term Loan Facility due April 13, 2028                          
Debt Instrument                          
Loan outstanding amount     945,000,000     945,000,000     945,000,000       $ 945,000,000
Unamortized debt discount     $ 10,915,000     $ 10,915,000   $ 5,000,000 $ 10,915,000       $ 12,064,000
Effective Interest Rate [1]     8.80%     8.80%     8.80%       5.85%
Term Loan Facility due April 13, 2028 | Federal Funds Effective Rate                          
Debt Instrument                          
Credit facility, interest rate                 0.50%        
Term Loan Facility due April 13, 2028 | Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate                 1.00%        
Debt instrument variable rate floor percent determined option one                 0.50%        
Effective Interest Rate     3.50%     3.50%     3.50%        
Term Loan Facility due April 13, 2028 | Maximum | Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Debt instrument variable rate floor percent determined option one                 1.50%        
Senior Secured Notes due April 15, 2029                          
Debt Instrument                          
Debt Instrument Interest Rate Stated Percentage     4.50%     4.50%     4.50%        
Loan outstanding amount     $ 500,000,000     $ 500,000,000     $ 500,000,000       $ 500,000,000
Effective Interest Rate [1]     4.65%     4.65%     4.65%       4.70%
Debt instrument issued date                 Apr. 13, 2021        
Debt instrument, mature date                 Apr. 15, 2029        
Debt instrument interest payment term                 Interest on the Senior Secured Notes is payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2021.        
Debt Instrument, redemption, description                 On or after April 15, 2024, the Company may on any one or more occasions redeem some or all of the Senior Secured Notes at a purchase price equal to 102.250% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date, such optional redemption price decreasing to 101.125% on or after April 15, 2025 and to 100.000% on or after April 15, 2026. Prior to April 15, 2024, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of the Senior Secured Notes with an amount not to exceed the net proceeds of certain equity offerings at 104.500% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the redemption date. Prior to April 15, 2024, the Company may redeem some or all of the Senior Secured Notes at a make-whole price plus accrued and unpaid interest, if any, to, but not including, the redemption date. In addition, during any twelve-month period ending prior to April 15, 2024, the Company may redeem up to 10% of the aggregate principal amount of the Senior Secured Notes at a purchase price equal to 103.000% of the principal amount of the Senior Secured Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.        
Senior Secured Notes due April 15, 2029 | Change of Control                          
Debt Instrument                          
Debt instrument, percentage of aggregate principal amount that may be redeemed (up to)                 101.00%        
Senior Secured Notes due April 15, 2029 | Sale of Assets                          
Debt Instrument                          
Debt instrument, percentage of aggregate principal amount that may be redeemed (up to)                 100.00%        
Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2024                          
Debt Instrument                          
Debt Instrument, percentage of principal can be redeemed                 102.25%        
Debt Instrument, redemption date                 Apr. 15, 2024        
Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2025                          
Debt Instrument                          
Debt Instrument, percentage of principal can be redeemed                 101.125%        
Debt Instrument, redemption date                 Apr. 15, 2025        
Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2026                          
Debt Instrument                          
Debt Instrument, percentage of principal can be redeemed                 100.00%        
Debt Instrument, redemption date                 Apr. 15, 2026        
Senior Secured Notes due April 15, 2029 | Forecast                          
Debt Instrument                          
Debt Instrument, percentage of principal can be redeemed                     103.00%    
Senior Secured Notes due April 15, 2029 | Maximum | Forecast                          
Debt Instrument                          
Debt Instrument, percentage of principal can be redeemed   104.50%                      
Percent of principal amount of debt that may be redeemed (up to)   40.00%                      
Debt instrument, percentage of aggregate principal amount that may be redeemed (up to)                     10.00%    
Credit Facilities and Senior Secured Notes                          
Debt Instrument                          
Loan outstanding amount     $ 1,445,000,000     $ 1,445,000,000     $ 1,445,000,000        
Revolving Credit Facility                          
Debt Instrument                          
Credit Facility, maximum borrowing capacity     61,250,000     61,250,000     61,250,000        
Loan outstanding amount     0     0     0       $ 0
Aggregate principal amount     0     0     0       $ 0
Credit facility available amount     173,921,000     173,921,000     173,921,000        
Line of credit facility, issued but undrawn letters of credit     $ 1,079,000     $ 1,079,000     $ 1,079,000        
Effective Interest Rate [1]     0.00%     0.00%     0.00%       0.00%
Minimum outstanding amount to compliance springing maintenance covenant                 35.00%        
Consolidated first lien leverage ratio                 7.48        
Revolving Credit Facility | Forecast                          
Debt Instrument                          
Consolidated first lien leverage ratio compliance 5.00                 5.25   5.50  
Revolving Credit Facility | Federal Funds Effective Rate                          
Debt Instrument                          
Credit facility, interest rate                 0.50%        
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Credit facility, interest rate                 1.00%        
Debt instrument variable rate floor percent determined option one                 0.00%        
Effective Interest Rate     2.75%     2.75%     2.75%        
Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)                          
Debt Instrument                          
Debt instrument variable rate floor percent determined option one                 1.00%        
Revolving Credit Facility | Senior Secured Revolving Credit Facility Due in 2022                          
Debt Instrument                          
Debt Instrument, maturity year       2022                  
Credit Facility, maximum borrowing capacity       $ 175,000,000                  
Revolving Credit Facility | Senior Secured Revolving Credit Facility                          
Debt Instrument                          
Debt Instrument, maturity year       2026                  
Credit Facility, maximum borrowing capacity       $ 175,000,000                  
Term Loan Facility | Senior Secured Tranche B Term Loan                          
Debt Instrument                          
Debt Instrument, maturity year       2028                  
Credit Facility, maximum borrowing capacity       $ 1,000,000,000                  
Write-off of pre-existing deferred financing fees and debt discount             $ 1,183,000            
Prepayments of aggregate principal amount         $ 52,500,000                
[1] Includes amortization of deferred financing costs and debt discount.