Long-term Debt and Letters of Credit (Tables)

12 Months Ended

Jan. 03, 2022

Debt Disclosure [Abstract]

Long-term Debt

The following table summarizes the long-term debt of the Company as of January 3, 2022 and December 28, 2020:

	Interest Rate as of January 3, 2022			Principal Outstanding as of January 3, 2022			Interest Rate as of December 28, 2020			Principal Outstanding as of December 28, 2020
	(In thousands)
Senior Notes due March 2029		4.00	%	$	500,000			—	%	$	—
Term Loan due September 2024		2.60			405,879			2.65			405,879
Senior Notes due October 2025		—			—			5.63			375,000
U.S. ABL Revolving Loan due June 2024		—			—			1.40			40,000
Asia ABL Revolving Loan due June 2024		1.50			30,000			1.55			30,000
					935,879						850,879
Less: Long-term debt unamortized discount					(607	)					(814	)
Long-term debt unamortized debt issuance costs					(7,454	)					(7,212	)
					927,818						842,853
Less: current maturities					—						—
Long-term debt, less current maturities				$	927,818					$	842,853

Long-term Debt Maturities

The fiscal calendar maturities of long-term debt through 2026 and thereafter are as follows:

	(In thousands)
2022	$	—
2023		—
2024		435,879
2025		—
2026		—
Thereafter		500,000
	$	935,879

Components of Interest Expense from Convertible Senior Notes

The components of interest expense resulting from the Convertible Senior Notes for the years ended December 28, 2020 and

December 30, 2019 were as follows:

	For the Year Ended
	December 28,		December 30,
	2020		2019
	(In thousands)
Contractual coupon interest	$	4,180	$	4,374
Amortization of debt discount	$	9,926	$	9,751
Amortization of debt issuance costs	$	995	$	977

Schedule of Remaining Unamortized Debt Discount and Debt Issuance Costs

As of January 3, 2022 and December 28, 2020, remaining unamortized debt discount and debt issuance costs for the Senior Notes due 2029, Term Loan Facility and Senior Notes due 2025 are as follows:

	As of January 3, 2022							As of December 28, 2020
	Debt Issuance Costs		Debt Discount		Effective Interest Rate			Debt Issuance Costs		Debt Discount		Effective Interest Rate
	(In thousands, except interest rates)
Senior Notes due March 2029	$	5,444	$	—		4.18	%	$	—	$	—		—	%
Term Loan due September 2024		2,010		607		4.66			2,695		814		4.66
Senior Notes due October 2025	—		—		—				4,517	—			5.92
	$	7,454	$	607				$	7,212	$	814