Debt

6 Months Ended

Dec. 30, 2022

Debt Disclosure [Abstract]

Debt

Debt

REVOLVING CREDIT FACILITY

On February 28, 2022, the Company amended the Revolver to increase and extend the borrowing capacity to a $1,100,000, 5-year revolving credit line, with the maturity extended to February 28, 2027. As of December 30, 2022, the Company's outstanding balance of unamortized deferred financing costs was $3,994, which is being amortized to Other expense, net in the Consolidated Statements of Operations and Comprehensive Loss on a straight line basis over the term of the Revolver.

During the second quarter ended December 30, 2022, the Company borrowed $40,000 against the Revolver, which was subsequently repaid within the quarter. As of December 30, 2022, the Company was in compliance with all covenants and conditions under the Revolver and there were outstanding borrowings of $511,500 against the Revolver, resulting in interest expense of $6,590 and $11,137 for the second quarter and six months ended December 30, 2022. There were outstanding letters of credit of $963 as of December 30, 2022.