XML 51 R40.htm IDEA: XBRL DOCUMENT v3.24.3
Debt - Additional Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 30, 2024
Feb. 28, 2023
Sep. 27, 2024
Sep. 29, 2023
Sep. 27, 2024
Sep. 29, 2023
Debt Instrument [Line Items]            
Loss on extinguishment of debt     $ 0 $ 0 $ (1,998) $ (22,052)
Senior secured credit facilities            
Debt Instrument [Line Items]            
Credit facility, maximum borrowing capacity   $ 750,000        
Revolver            
Debt Instrument [Line Items]            
Outstanding borrowings   $ 500,000        
Debt instrument, term   5 years        
Term facility            
Debt Instrument [Line Items]            
Face amount   $ 203,100        
Interest rate     8.55%   8.55%  
Credit facility, maximum borrowing capacity   250,000        
Maximum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Quarterly amortization   3,100        
Minimum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Quarterly amortization   $ 1,600        
2023 Credit Agreement | Term facility            
Debt Instrument [Line Items]            
Face amount     $ 242,200   $ 242,200  
Deferred debt issuance costs     1,700   1,700  
Fair value     242,300   242,300  
Secured Debt | Fed Funds Effective Rate Overnight Index Swap Rate | Senior secured credit facilities            
Debt Instrument [Line Items]            
Spread on variable rate   0.50%        
Secured Debt | Secured Overnight Financing Rate (SOFR) | Maximum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Spread on variable rate   3.25%        
Secured Debt | Secured Overnight Financing Rate (SOFR) | Minimum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Spread on variable rate   2.00%        
Secured Debt | Eurodollar | Maximum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Spread on variable rate   2.25%        
Secured Debt | Eurodollar | Minimum | Senior secured credit facilities            
Debt Instrument [Line Items]            
Spread on variable rate   1.00%        
Secured Debt | New Term Loans            
Debt Instrument [Line Items]            
Face amount $ 906,600          
Secured Debt | Vertex First Lien Credit Agreement            
Debt Instrument [Line Items]            
Quarterly amortization 2,300          
Total     904,300   904,300  
Deferred debt issuance costs     31,000   31,000  
Fair value     $ 903,200   $ 903,200  
Secured Debt | Vertex First Lien Term Facility            
Debt Instrument [Line Items]            
Face amount $ 847,600          
Secured Debt | First Lien Initial Term Tranche            
Debt Instrument [Line Items]            
Interest rate     8.52%   8.52%  
Secured Debt | First Lien Initial Term Tranche | Fed Funds Effective Rate Overnight Index Swap Rate            
Debt Instrument [Line Items]            
Spread on variable rate 0.50%          
Secured Debt | First Lien Initial Term Tranche | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Spread on variable rate 1.00% 1.00%        
Secured Debt | First Lien Initial Term Tranche | Secured Overnight Financing Rate (SOFR) | Maximum            
Debt Instrument [Line Items]            
Spread on variable rate 2.75%          
Secured Debt | First Lien Initial Term Tranche | Eurodollar            
Debt Instrument [Line Items]            
Spread on variable rate 1.75%          
Letters of credit | Revolver            
Debt Instrument [Line Items]            
Credit facility, maximum borrowing capacity   $ 50,000        
Letters of credit | 2023 Credit Agreement            
Debt Instrument [Line Items]            
Outstanding borrowings     $ 15,900   $ 15,900  
Short-term debt | Term facility            
Debt Instrument [Line Items]            
Credit facility, maximum borrowing capacity   $ 50,000        
Line of Credit | 2023 Credit Agreement            
Debt Instrument [Line Items]            
Deferred debt issuance costs     3,400   3,400  
Covenant terms, ratio of total indebtedness to combined EBITDA   5.00        
Covenant terms, step down leverage ratio EBITDA   4.75        
Covenant terms, ratio of EBITDA to interest expense, net,   2.00        
Remaining borrowing capacity     $ 484,100   $ 484,100  
Line of Credit | 2023 Credit Agreement | Maximum | Revolver | Equal To Or Less Than 50%            
Debt Instrument [Line Items]            
Commitment fee percentage   0.50%        
Line of Credit | 2023 Credit Agreement | Minimum | Revolver | Equal To Or Less Than 50%            
Debt Instrument [Line Items]            
Commitment fee percentage   0.25%        
Line of Credit | Vertex ABL Credit Agreement | Revolver            
Debt Instrument [Line Items]            
Fronting fee   0.125%