Long-Term Debt (Tables)

9 Months Ended

Sep. 27, 2024

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	September 27, 2024		December 31, 2023
Senior bonds (the “2025 Senior Bonds”)(1)	11/25/2025	3.800%	Semi-annually	Public	$	350,000	$	350,000
Senior notes	10/10/2026	3.930%	Quarterly	Nonpublic	100,000		100,000
Senior bonds (the “2029 Senior Bonds”)(2)	6/1/2029	5.250%	Semi-annually	Public	700,000		—
Revolving credit facility(3)	6/10/2029	Variable	Varies	Nonpublic	—		—
Senior notes	3/21/2030	3.960%	Quarterly	Nonpublic	150,000		150,000
Senior bonds (the “2034 Senior Bonds”)(4)	6/1/2034	5.450%	Semi-annually	Public	500,000		—
Unamortized discount on senior bonds(1)(2)(4)	Various				(1,553)		(17)
Debt issuance costs					(12,665)		(824)
Total long-term debt					$	1,785,782	$	599,159

(1)The 2025 Senior Bonds were issued at 99.975% of par.

(2)The 2029 Senior Bonds were issued at 99.843% of par.

(3)The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company.

(4)The 2034 Senior Bonds were issued at 99.893% of par.