DEBT (Tables)

12 Months Ended

Dec. 29, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following (in millions):

	December 29, 2024								December 31, 2023
	Final Maturity	Anticipated Call Date	Rate		Face Value		Book Value		Book Value
Senior Debt
FB Royalty Securitization	4/25/2051	7/25/2026	4.75%		$	136.3	$	134.4	$	135.9
GFG Royalty Securitization	7/25/2051	7/25/2026	6.00%		269.8		265.2		267.7
Twin Peaks Securitization	10/25/2054	10/25/2027	7.00%		281.4		277.5		193.7
Fazoli's/Native Securitization	7/25/2051	1/25/2025	6.00%		125.5		125.4		126.0
FB Resid Securitization	7/25/2027		10.00%		53.9		53.8		52.7
Senior Subordinated Debt
FB Royalty Securitization	4/25/2051	7/25/2026	8.00%		45.4		42.7		42.1
GFG Royalty Securitization	7/25/2051	7/25/2026	7.00%		101.7		98.9		95.9
Twin Peaks Securitization	10/25/2054	10/25/2027	9.00%		57.6		53.7		48.6
Fazoli's/Native Securitization	7/25/2051	1/25/2025	7.00%		24.4		24.2		17.4
FB Resid Securitization	7/25/2027		10.00%		56.0		55.9		52.7
Subordinated Debt
FB Royalty Securitization	4/25/2051	7/25/2026	9.00%		15.7		15.5		18.6
GFG Royalty Securitization	7/25/2051	7/25/2026	9.50%		55.6		49.2		43.4
Twin Peaks Securitization	10/25/2054	10/25/2027	10.00%		46.9		45.6		29.4
Fazoli's/Native Securitization	7/25/2051	1/25/2025	9.00%		—		—		20.7
Total Securitized Debt					1,270.2		1,242.0		1,144.8
Elevation Note	7/19/2026	N/A	6.00%		2.0		2.0		3.0
Twin Peaks Equipment Notes	5/5/2027 to 7/31/2028	N/A	7.99% to 11.50%		4.7		4.7		1.9
Twin Peaks Construction Loan III	12/28/2024	N/A	Prime + 1%		—		—		2.2
Twin Peaks Construction Loan IV	10/1/2025	N/A	12.50	%	3.2		3.2		—
Twin Peaks Promissory Note	10/4/2024	N/A	5.30	%	—		—		1.0
FAT Brands GFG Royalty I, LLC Promissory Note	7/25/2026	N/A	16.90% to 18.65%		6.4		6.3		—
Total debt					$	1,286.5	1,258.2		1,152.9
Current portion of long-term debt							(49.2)		(42.6)
Long-term debt							$	1,209.0	$	1,110.3

On July 6, 2022, FB Royalty issued an additional $76.5 million aggregate principal amount of three tranches of fixed rate senior secured notes (in millions):

Closing Date	Class	Seniority	Principal Balance	Coupon	Final Legal Maturity Date
7/6/2022	A-2	Senior	$42.7	4.75%	7/25/2051
7/6/2022	B-2	Senior Subordinated	$14.2	8.00%	7/25/2051
7/6/2022	M-2	Subordinated	$19.6	9.00%	7/25/2051

On December 15, 2022, GFG Royalty issued an additional $113.5 million aggregate principal amount of three tranches of fixed rate senior secured notes as follows (in millions):

Closing Date	Class	Seniority	Principal Balance	Coupon	Final Legal Maturity Date
12/13/2022	A-2	Senior	$67.8	6.00%	7/25/2051
12/13/2022	B-2	Senior Subordinated	$20.2	7.00%	7/25/2051
12/13/2022	M-2	Subordinated	$25.5	9.50%	7/25/2051

Schedule of Maturities of Long-term Debt and Redemptions of Redeemable Preferred Stock

Scheduled principal maturities of long-term debt and redemptions of redeemable preferred stock (Note 12) for the next five fiscal years are as follows (in millions):

Fiscal Year	Long-Term Debt		Redeemable Preferred Stock (Note 12)
2025	$	49.2	$	91.8
2026	$	34.0	$	—
2027	$	136.8	$	—
2028	$	26.0	$	—
2029	$	25.4	$	—