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Debt
 3 Months Ended
Apr. 01, 2023
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
The Company’s debt as of April 1, 2023 and December 31, 2022 consists of the following:
(In thousands)April 1, 2023December 31, 2022
Senior secured term loan facility due 20292,495,000 2,495,000 
Senior secured notes due 20291,600,000 1,600,000 
Senior unsecured notes due 2030895,000 895,000 
Senior unsecured notes due 2029400,000 400,000 
Senior unsecured notes due 2028400,000 400,000 
Bridge credit facility due 2023135,000 135,000 
Total debt (par value)5,925,000 5,925,000 
Unamortized discount and debt issuance costs131,245 140,107 
Total debt, net$5,793,755 $5,784,893 
Less short-term debt, including current portion of long-term debt159,045 151,965 
Total long-term debt, net$5,634,710 $5,632,928 
Annual maturities of long-term debt, excluding unamortized discount and issuance costs, due as of April 1, 2023 are as follows:
(In thousands)Remaining 20232024202520262027ThereafterTotal
Contractual debt obligation maturities(1)
$153,713 24,950 24,950 24,950 24,950 5,671,487 $5,925,000 
(1) Subject to Excess Cash Flow payments to the lenders.
On March 10, 2023, the Company and certain of its subsidiaries entered into Amendment No. 1 (the “Amendment”) with the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent, which amended the Credit and Guaranty Agreement, dated as of November 6, 2018 (as amended and restated as of July 6, 2022 and as further amended, restated, amended and restated, supplemented, modified and otherwise in effect prior to the effectiveness of the Amendment, the “Existing Credit Agreement” and, the Existing Credit Agreement as amended by the Amendment, the “Amended Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company party thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent.
The Amendment provides for, among other things, the refinancing of the Company’s outstanding term B loans under the Existing Credit Agreement in an aggregate principal amount of $2.495 billion (the “Original Tranche B Term Loans”) with a new tranche of term B loans under the Amended Credit Agreement in an aggregate principal amount of $2.495 billion (the “New Tranche B Term Loans”). The New Tranche B Term Loans will bear interest under the Amended Credit Agreement, at a rate per annum equal to, at the Company’s option, either (i) Term SOFR plus an applicable margin of 2.75% or (ii) a base rate plus an applicable margin of 1.75%. Consistent with the Original Tranche B Term Loans, the new Tranche B Term Loans will mature on July 6, 2029. Other than as described herein (and more fully described in the Amendment), the terms of the Amended Credit Agreement are substantially similar to the terms of the Existing Credit Agreement.