Debt and Other Obligations (Tables)

4 Months Ended

Apr. 24, 2021

Long Term Debt (Net of Issuance Costs and Debt Discounts Excluding Line-of-credit Arrangements)

Long-term debt (net of issuance costs and debt discounts excluding line-of-credit arrangements) (leases are separately discussed in Note 4, Leases) consisted of the following at April 24, 2021 and January 2, 2021, respectively (amounts in thousands):

	April 24, 2021		January 2, 2021
Unsecured credit facility	$	—	$	50,000
2031 notes		492,696		—
2026 notes		396,881		396,705
2022 notes		—		399,398
Accounts receivable securitization facility		—		114,000
		889,577		960,103
Less current maturities of long-term debt		—		—
Total long-term debt	$	889,577	$	960,103

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of April 24, 2021 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2021	$	—
2022		—
2023		—
2024		—
2025		—
2026 and thereafter		900,000
Total	$	900,000

Reconciliation of Debt Issuance Costs and Debt Discounts to the Net Carrying Value for Each Debt Obligation (Excluding Line of Credit Arrangements)

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at April 24, 2021 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2031 notes	$	500,000	$	7,304	$	492,696
2026 notes		400,000		3,119		396,881
Total	$	900,000	$	10,423	$	889,577

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at January 2, 2021 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2026 notes	$	400,000	$	3,295	$	396,705
2022 notes		400,000		602		399,398
Total	$	800,000	$	3,897	$	796,103

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the facility during the sixteen weeks ended April 24, 2021:

	Amount (thousands)
Balance at January 2, 2021	$	114,000
Borrowings		—
Payments		(114,000	)
Balance at April 24, 2021	$	—

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available for working capital and general corporate purposes under the facility as of April 24, 2021:

	Amount (thousands)
Gross amount available	$	179,100
Outstanding		—
Available for withdrawal	$	179,100

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the facility during the sixteen weeks ended April 24, 2021:

	Amount (thousands)
High balance	$	114,000
Low balance	$	—

Unsecured Credit Facility

Schedule of Borrowings and Repayments Under Credit Facility

Amounts outstanding under the credit facility can vary daily. Changes in the gross borrowings and repayments can be caused by cash flow activity from operations, capital expenditures, acquisitions, dividends, share repurchases, and tax payments, as well as derivative transactions, which are part of the company’s overall risk management strategy as discussed in Note 8, Derivative Financial Instruments, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q.  The table below presents the borrowings and repayments under the credit facility during the sixteen weeks ended April 24, 2021.

	Amount (thousands)
Balance at January 2, 2021	$	50,000
Borrowings		—
Payments		(50,000	)
Balance at April 24, 2021	$	—

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of April 24, 2021:

	Amount (thousands)
Gross amount available	$	500,000
Outstanding		—
Letters of credit		(8,400	)
Available for withdrawal	$	491,600

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the credit facility during the sixteen weeks ended April 24, 2021:

	Amount (thousands)
High balance	$	50,000
Low balance	$	—