Long-Term Debt (Tables)

9 Months Ended

Oct. 01, 2021

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Following is a summary of the Company’s long-term debt:

(in thousands)	Maturity Date	Interest Rate	Interest Paid	Public/ Nonpublic	October 1, 2021		December 31, 2020
2016 Term Loan Facility(1)	6/7/2021	Variable	Varies	Nonpublic	$	—	$	217,500
Senior notes	2/27/2023	3.28%	Semi-annually	Nonpublic	125,000		125,000
2018 Revolving Credit Facility	6/8/2023	Variable	Varies	Nonpublic	—		—
2021 Term Loan Facility	7/9/2024	Variable	Varies	Nonpublic	70,000		—
Senior bonds(2)	11/25/2025	3.80%	Semi-annually	Public	350,000		350,000
2021 Revolving Credit Facility	7/9/2026	Variable	Varies	Nonpublic	—		—
Senior notes	10/10/2026	3.93%	Quarterly	Nonpublic	100,000		100,000
Senior notes	3/21/2030	3.96%	Quarterly	Nonpublic	150,000		150,000
Unamortized discount on senior bonds(2)	11/25/2025				(36)		(43)
Debt issuance costs					(1,787)		(1,992)
Total long-term debt					$	793,177	$	940,465

(1)As of December 31, 2020, the 2016 Term Loan Facility (as defined below) balance was classified as long term as the Company intended to refinance outstanding principal payments due in the next 12 months using the 2018 Revolving Credit Facility (as defined below), which was classified as long-term debt, and the Company was not restricted by any subjective acceleration clause within the agreement for the 2018 Revolving Credit Facility.

(2)The senior bonds due in 2025 were issued at 99.975% of par.