Debt (Tables)

3 Months Ended

Mar. 26, 2021

Debt Disclosure [Abstract]

Schedule of Debt including Capital Lease Obligation

Debt was comprised of the following at the end of each period:

	March 26, 2021				December 25, 2020
	Principal		Unamortized Discount and Debt Issuance Costs (1)		Principal		Unamortized Discount and Debt Issuance Costs (1)
Secured debt:
Term loan due September 2024	$	1,411.2	$	—	$	1,505.2	$	12.3
Term loan due February 2025	374.6		—		399.5		5.0
10.00% first lien senior notes due April 2025	495.0		7.3		495.0		7.7
10.00% second lien senior notes due April 2025	322.9		7.6		322.9		8.0
Revolving credit facility	900.0		1.3		900.0		1.7
Total secured debt	3,503.7		16.2		3,622.6		34.7
Unsecured debt:
9.50% debentures due May 2022	10.4		—		10.4		—
5.75% senior notes due August 2022	610.3		—		610.3		—
8.00% debentures due March 2023	4.4		—		4.4		—
4.75% senior notes due April 2023	133.7		—		133.7		—
5.625% senior notes due October 2023	514.7		—		514.7		—
5.50% senior notes due April 2025	387.2		—		387.2		—
Total unsecured debt	1,660.7		—		1,660.7		—
Total debt, prior to reclassification to liabilities subject to compromise	5,164.4		16.2		5,283.3		34.7
Less: Current portion	(1,717.9)		(16.2)		(3,622.6)		(34.7)
Less: Amounts reclassified to liabilities subject to compromise (2)	(3,446.5)		—		(1,660.7)		—
Total long-term debt, net of current portion	$	—	$	—	$	—	$	—

(1)As a result of the Company's Chapter 11 Cases, the Company expensed $16.3 million of unamortized discount and debt issuance costs, net, recorded in reorganization items, net in the unaudited condensed consolidated statement of operations during the three months ended March 26, 2021.

(2)In connection with the Company’s Chapter 11 Cases, $3,446.5 million and $1,660.7 million outstanding secured and unsecured debt instruments have been reclassified to LSTC in the Company's unaudited condensed consolidated balance sheets as of March 26, 2021 and December 25, 2020, respectively. Up to the date of reclassification to LSTC, the Company continued to accrue interest expense in relation to these debt instruments reclassified to LSTC. Refer to Note 2 for further information.

Schedule of Applicable Interest Rate on Variable-rate Debt

As of March 26, 2021, the applicable interest rate and outstanding borrowings on the Company's variable-rate debt instruments were as follows:

	Applicable interest rate		Outstanding borrowings
Term loan due September 2024 (1)	6.00	%	$	1,411.2
Term loan due February 2025 (1)	6.25		374.6
Revolving credit facility	4.47		900.0