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v3.20.4

Long-Term Debt (Tables) | 12 Months Ended
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Jan. 02, 2021
Debt Disclosure [Abstract] |
Summary of Debt Instruments | Long-term debt consists of the following:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | January 2, |  |  | December 28, |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2021 |  |  | 2019 |
Senior secured revolving credit facility, due December 2023 | $ |  | 440,177 |  |  | $ |  | 640,409 |
Finance lease obligations (Note 10) |  |  | 43,632 |  |  |  |  | 44,966 |
Other, 2.61% - 4.36%, due 2021 - 2026 |  |  | 6,707 |  |  |  |  | 8,633 |
Total debt - Principal |  |  | 490,516 |  |  |  |  | 694,008 |
Unamortized debt issuance costs |  |  | (4,072 | ) |  |  |  | (5,455 | )
Total debt - Principal |  |  | 486,444 |  |  |  |  | 688,553 |
Less current portion |  |  | 5,135 |  |  |  |  | 6,349 |
Total long-term debt | $ |  | 481,309 |  |  | $ |  | 682,204 |
Schedule of Interest Rate Terms for Each of Aforementioned Tranches | Borrowings under the credit facility bear interest at the Company’s option as either Eurodollar loans or Base Rate loans, subject to a grid based upon Excess Availability. The interest rate terms for each of the aforementioned tranches are as follows:
Credit |  | Outstanding as of |  |  |  |  |  |
Facility |  | January 2, 2021 |  |  |  |  |  |
Tranche |  | (In thousands) |  |  | Eurodollar Rate |  | Base Rate
Tranche A |  | $ |  | 409,636 |  |  | LIBOR plus 1.25% to 1.50% |  | Greater of: | (i) the Federal Funds Rate plus 0.75% to 1.00%
|  |  |  |  |  |  |  |  |  | (ii) the Eurodollar Rate plus 2.25% to 2.50%
|  |  |  |  |  |  |  |  |  | (iii) the prime rate plus 0.25% to 0.50%
Tranche A-1 |  | $ |  | 30,541 |  |  | LIBOR plus 2.25% to 2.50% |  | Greater of: | (i) the Federal Funds Rate plus 1.75% to 2.00%
|  |  |  |  |  |  |  |  |  | (ii) the Eurodollar Rate plus 2.25% to 2.50%
|  |  |  |  |  |  |  |  |  | (iii) the prime rate plus 1.25% to 1.50%
Schedule of Aggregate Annual Maturities and Scheduled Payments of Long-term Debt | At January 2, 2021, aggregate annual maturities and scheduled payments of long-term debt are as follows:
(In thousands) | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | Thereafter |  |  | Total |
Total borrowings | $ |  | 5,135 |  |  | $ |  | 4,614 |  |  | $ |  | 444,734 |  |  | $ |  | 4,450 |  |  | $ |  | 4,104 |  |  | $ |  | 27,479 |  |  | $ |  | 490,516 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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