Debt and Other Commitments (Tables)

12 Months Ended

Jan. 01, 2022

Long-Term Debt and Capital Leases

Long-term debt, including capital lease obligations, consisted of the following at January 1, 2022 and January 2, 2021:

	Interest Rate at January 1, 2022	Final Maturity	January 1, 2022		January 2, 2021
			(Amounts in thousands)
Unsecured credit facility	1.02%	2026	$	—	$	50,000
2031 notes	2.40%	2031		493,333		—
2026 notes	3.50%	2026		397,276		396,705
2022 notes	4.38%	2022		—		399,398
Accounts receivable securitization facility	1.00%	2023		—		114,000
				890,609		960,103
Current maturities of long-term debt				—		—
Long-term debt			$	890,609	$	960,103

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of January 1, 2022, are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

2022	$	—
2023		—
2024		—
2025		—
2026		400,000
Thereafter		500,000
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 January 1, 2022 (amounts in thousands):

	Face Value		Debt issuance costs and debt discount		Net carrying value
2031 notes	$	500,000	$	6,667	$	493,333
2026 notes		400,000		2,724		397,276
Total	$	900,000	$	9,391	$	890,609

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):

	Face Value		Debt issuance costs 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

Schedule of Deferred Compensation Amount Outstanding

The amounts outstanding at January 1, 2022 and January 2, 2021 were as follows (amounts in thousands):

	January 1, 2022			January 2, 2021
Deferral elections outstanding	$	21,319		$	18,308
Current portion of deferral elections		(1,131	)		(1,634	)
Long-term portion of deferral elections	$	20,188		$	16,674

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the AR facility during Fiscal 2021:

	Amount (thousands)
Balance as of January 2, 2021	$	114,000
Borrowings		—
Payments		(114,000	)
Balance as of January 1, 2022	$	—

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 AR facility as of January 1, 2022:

	Amount (thousands)
Gross amount available	$	194,500
Outstanding		—
Available for withdrawal	$	194,500

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the AR facility during Fiscal 2021:

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

Unsecured Credit Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the credit facility during Fiscal 2021:

	Amount (thousands)
Balance as of January 2, 2021	$	50,000
Borrowings		10,000
Payments		(60,000	)
Balance as of January 1, 2022	$	—

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of January 1, 2022:  

	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 Fiscal 2021:

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

2031 Notes

Schedule of debt discount, underwriting fees and the legal and other fees

The table below presents the debt discount, underwriting fees and other fees for issuing the 2031 notes (amounts in thousands):

Total fees for 2031 notes	Amount at Issuance
Debt discount	$	2,430
Underwriting, legal, and other fees		4,829
Total fees	$	7,259

2026 Notes

Schedule of debt discount, underwriting fees and the legal and other fees

The table below presents the debt discount, underwriting fees and the legal and other fees for issuing the 2026 notes (amounts in thousands):

Total fees for 2026 notes	Amount at Issuance
Debt discount	$	2,108
Underwriting, legal, and other fees		3,634
Total fees	$	5,742