Long-Term Debt (Tables)

12 Months Ended

Jan. 02, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of the following:

	January 2,			December 28,
	2021			2019
	(in thousands)
2018 Senior Notes Due 2026 - Senior notes issued on August 10, 2018, due August     10, 2026. Interest payable semi- annually, in arrears, beginning on February 16, 2019,     accruing at a rate of 6.75% per annum beginning August 10, 2018.	$	365,000		$	315,000
2016 Credit Agreement Due 2022 - Term loan payable with no contractually     scheduled amortization payments. Original lump-sum payment of $64.0 million     due on October 31, 2022. Interest payable quarterly at LIBOR or the Base     prime rate plus an applicable margin. At January 2, 2021, the average     rate was 2.00%, plus a margin of 0.15%. At December 28, 2019, the average     rate was 2.00%, plus a margin of 1.77%.		54,000			64,000
Long-term debt		419,000			379,000
Fees, costs, premium and discount (1)		(6,902	)		(10,029	)
Long-term debt, net, less current portion	$	412,098		$	368,971

(1) Fees, costs, premium and discount represents third-party fees, lender fees, other debt-related costs, and original issue premium and discount, recorded as a net reduction of the carrying value of debt and are amortized over the lives of the debt instruments to which they relate under the effective interest method.

Activity Relating to Third-Party Fees and Costs, Lender Fees and Discount

All debt-related fees, costs and original issue discount, including those related to the revolving credit portion of the facility, is classified as a reduction of the carrying value of long-term debt. The activity relating to third-party fees and costs, lender fees and discount for the year ended January 2, 2021, are as follows:

(in thousands)	Total
At beginning of year	$	10,029
Add: Deferred financing costs from the issuance of the add-on 2018 Senior Notes due 2026		1,266
Less: Premium on the issuance of the add-on 2018 Senior Notes due 2026		(3,187	)
Less: Amortization expense relating to 2016 Credit Agreement		(328	)
Less: Amortization expense relating to 2018 Senior Notes		(878	)
At end of year	$	6,902

Estimated Amortization Expense Relating to Third-Party Fees and Costs, Lender Fees and Discount

Estimated amortization expense relating to third-party fees and costs, lender fees and discount for the years indicated, as of January 2, 2021, is as follows:

(in thousands)	Total
2021	$	1,169
2022		1,223
2023		1,183
2024		1,250
2025		1,244
Thereafter		833
Total	$	6,902

Contractual Future Maturities of Long-Term Debt Outstanding, Including Other Debt Relating to Software License Financing Arrangement

As a result of prepayments of the term loan portion of the 2016 Credit Agreement due 2022 totaling $214.0 million since its inception in February 2016, and pursuant to the Third Amendment, we have no future scheduled repayments until the maturity of the facility on October 31, 2022. The contractual future maturities of long-term debt outstanding, as of January 2, 2021, are as follows (at face value):

(in thousands)	Total
2021	$	—
2022		54,000
2023		—
2024		—
2025		—
Thereafter		365,000
Total	$	419,000

Schedule of Interest Expense, Net

Interest expense, net consisted of the following:

	Year Ended
	January 2,			December 28,			December 29,
	2021			2019			2018
(in thousands)
Long-term debt	$	26,339		$	24,750		$	18,946
Debt fees		327			383			251
Amortization and write-offs of deferred
financing costs and debt discount		1,206			1,674			7,790
Interest income		(120	)		(339	)		(389	)
Interest expense		27,752			26,468			26,598
Capitalized interest		(33	)		(51	)		(69	)
Interest expense, net	$	27,719		$	26,417		$	26,529