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Debt (Tables)
 6 Months Ended
Jun. 29, 2024
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt
The following table sets forth the components of long-term debt:
June 29, 2024December 31, 2023
Effective Interest RatePrincipal Outstanding
Unamortized Fair Value Adjustment (1)
Unamortized Discount and
Issuance Costs		Carrying AmountPrincipal Outstanding
Unamortized Fair Value Adjustment(1)
Unamortized Discount and
Issuance Costs		Carrying Amount
Term loan facility, due April 20288.57 %$2,515,500 $(262,784)$— $2,252,716 $2,528,500 $(292,442)$— $2,236,058 
Term loan facility, due August 20289.69 %295,500 — (16,693)278,807 297,000 — (18,370)278,630 
Term loan facility, due May 203110.02 %500,000 — (5,312)494,688 — — — — 
6.125% senior notes, due January 2029
13.73 %318,699 (81,003)— 237,696 318,699 (87,050)— 231,649 
8.750% senior secured notes, due August 2028
10.61 %710,000 — (40,555)669,445 710,000 — (44,787)665,213 
Total long-term debt$4,339,699 $(343,787)$(62,560)$3,933,352 $3,854,199 $(379,492)$(63,157)$3,411,550 
Reflected as:
Current liabilities - Current maturities of long-term debt$31,500 $29,000 
Non-current liabilities - Long-term debt3,901,852 3,382,550 
Total long-term debt$3,933,352 $3,411,550 
Fair value - Senior notes - Level 1 $958,045 $988,702 
Fair value - Term loans - Level 2(2)
3,265,653 2,835,596 
Total fair value$4,223,698 $3,824,298 
(1)    In July 2022, as a result of the pushdown accounting related to the Merger, the carrying values of the term loan facility due April 2028 and the 6.125% senior notes were adjusted to fair value.
(2)    Term loans are classified within Level 2 of the fair value hierarchy because they are valued based on quoted market prices.
Schedule of Availability Under Credit Facilities
The following table sets forth the Company’s availability under its revolving credit facilities:
June 29, 2024December 31, 2023
AvailableBorrowingsLetters of Credit and Priority PayablesAvailableBorrowingsLetters of Credit and Priority Payables
Asset-based lending facility, due May 2029(1)
$850,000 $65,000 $46,000 $850,000 $— $47,000 
Cash flow revolver(2)
92,000 — — 92,000 — — 
First-in-last-out tranche asset-based lending facility, due May 2029(1)
95,000 95,000 — 95,000 — — 
Total$1,037,000 $160,000 $46,000 $1,037,000 $— $47,000 
(1)     As of June 29, 2024, borrowings on revolving credit facilities are included within short-term borrowings and classified as a current liability on the Condensed Consolidated Balance Sheets.
(2)     Cash flow revolver commitment of $92.0 million will mature in May 2029.
Schedule of Interest Rate Swap Agreement The following table sets forth the terms of the Company’s interest rate swap agreements:
April 2021 Swaps
Notional amount$1,500,000
Forecasted term loan interest payments being hedged1-month SOFR
Fixed rate paid2.0038%
Origination dateApril 17, 2023
Maturity dateApril 15, 2026
Fair value at June 29, 2024 - Other assets, net
$66,900
Fair value at December 31, 2023 - Other assets, net$64,704
Level in fair value hierarchy(1)
Level 2
(1)Interest rate swaps are based on cash flow hedge contracts that have fixed rate structures and are measured against market based SOFR yield curves. These interest rate swaps are classified within Level 2 of the fair value hierarchy because they are valued using alternative pricing sources or models that utilized market observable inputs, including current and forward interest rates.