Debt (Tables)

12 Months Ended

Jan. 03, 2026

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Our debt consists of the following:

In thousands	As of January 3, 2026		As of December 28, 2024
2025 Notes, due May 15, 2025	$	—	$	84,774
Term Loan A, due June 13, 2028	237,625		254,188
Debt before unamortized discount and issuance costs	237,625		338,962
Unamortized discount and issuance costs - 2025 Notes	—		(191)
Unamortized discount and issuance costs - Term Loan A	(1,137)		(1,602)
Debt less debt discount and issuance costs	236,488		337,169
Less current maturities	(13,250)		(98,024)
Long-term debt - noncurrent portion	223,238		239,145
Finance lease obligations	9,422		12,833
Less current maturities	(3,333)		(3,368)
Long-term debt and finance lease obligations, less current portion, discount, and issuance costs	$	229,327	$	248,610

We recognized the following in Interest expense, net related to the 2025 Notes:

In thousands	Fiscal Year 2025		Fiscal Year 2024		Fiscal Year 2023
Contractual interest expense	$	802	$	5,443	$	9,747
Amortization of issuance costs	$	191	$	1,282	$	2,293

Following the delivery of the financial statements for the period ending on September 30, 2023, the Applicable Margins for the Loans are based on NVI’s total leverage ratio as follows:

Consolidated Total Debt to Consolidated EBITDA Ratio	Term SOFR Rate	ABR Rate(1)
> 2.50:1.00	2.25%	1.25%
≤ 2.50:1.00 but >1.75:1.00	2.00%	1.00%
≤ 1.75:1:00 but >0.75:1.00	1.75%	0.75%
≤ 0.75:1:00	1.50%	0.50%
(1) ABR = Alternate Base Rate

Schedule of Annual Maturities of Debt

Scheduled annual maturities of debt are as follows:

Fiscal Year	In thousands
2026	$	13,250
2027	13,250
2028	211,125
	$	237,625