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Debt (Tables)
 9 Months Ended
Sep. 24, 2021
Debt Disclosure [Abstract]  
Schedule of Debt including Capital Lease Obligation
Debt was comprised of the following at the end of each period:
September 24, 2021December 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$1,403.9 $— $1,505.2 $12.3 
Term loan due February 2025372.6 — 399.5 5.0 
10.00% first lien senior notes due April 2025495.0 6.3495.07.7
10.00% second lien senior notes due April 2025322.9 —322.98.0
Revolving credit facility900.0 0.6900.01.7
Total secured debt3,494.4 6.9 3,622.6 34.7 
Unsecured debt:
9.50% debentures due May 202210.4—10.4 — 
5.75% senior notes due August 2022610.3—610.3 — 
8.00% debentures due March 20234.4—4.4 — 
4.75% senior notes due April 2023133.7—133.7 — 
5.625% senior notes due October 2023514.7—514.7 — 
5.50% senior notes due April 2025387.2 —387.2 — 
Total unsecured debt
1,660.7 — 1,660.7 — 
Total debt, prior to reclassification to liabilities subject to compromise5,155.1 6.9 5,283.3 34.7 
Less: Current portion(1,395.0)(6.9)(3,622.6)(34.7)
Less: Amounts reclassified to liabilities subject to compromise (2)
(3,760.1)— (1,660.7)— 
Total long-term debt, net of current portion$— $— $— $— 
(1)As a result of the Company's Chapter 11 Cases, the Company expensed $23.1 million of unamortized discount and debt issuance costs, net, recorded in reorganization items, net in the unaudited condensed consolidated statement of operations during the nine months ended September 24, 2021.
(2)In connection with the Company’s Chapter 11 Cases, $3,760.1 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 September 24, 2021 and December 25, 2020, respectively. Up to the date of reclassification to LSTC, the Company continued to accrue interest expense in relation to the unsecured debt instruments reclassified to LSTC. The Company continues to accrue and pay interest on the outstanding secured debt instruments classified as LSTC in conjunction with the cash collateral order. Refer to Note 2 for further information.
Schedule of Applicable Interest Rate on Variable-rate Debt
As of September 24, 2021, the applicable interest rate and outstanding borrowings on the Company's variable-rate debt instruments were as follows:
Applicable interest rateOutstanding borrowings
Term loan due September 2024 (1)
6.00 %$1,403.9 
Term loan due February 2025 (1)
6.25 372.6 
Revolving credit facility (2)
4.38 900.0 
(1)The applicable interest rate for the senior secured term loans includes the incremental 250 basis points as a result of the amendment to the cash collateral order that took effect on March 22, 2021. Refer to Note 2 for further discussion on the amendment.
(2)Includes the incremental 200 basis points related to the cash adequate protection payments. Refer to Note 2 for further information.