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Debt (Tables)
6 Months Ended
Jun. 29, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt, net
Long-term debt, net, consists of the following (in thousands):
June 29,
2025
December 29,
2024
Senior Notes$400,000$400,000
Term Loan200,000
Revolving Facilities133,804346,732
Outstanding debt$733,804$746,732
Unamortized debt issuance costs(7,523)(5,082)
Total long-term debt, net$726,281$741,650
Schedule of notional value of derivatives
As of June 29, 2025, we had the following interest rate swap agreements:
Effective DatesFloating Rate Debt Fixed Rates
June 23, 2023 through June 30, 2025$50 million4.55%
June 23, 2023 through June 30, 2025$50 million4.55%
April 29, 2025 through April 25, 2028$50 million3.49%
June 30, 2025 through June 30, 2028$50 million3.72%
Schedule of location and amounts of derivatives in the financial statements
The following table provides information on the location and amounts of our current swaps in the accompanying Condensed Consolidated Balance Sheets (in thousands):
Interest Rate Swap Derivatives
Balance Sheet LocationFair Value
June 29,
2025
Fair Value
December 29,
2024
Prepaid and other current assets$233$
Accrued expenses and other current liabilities$858$161
Schedule of effect of derivatives on the financial statements
The effect of derivative instruments on the accompanying condensed consolidated financial statements is as follows (in thousands):
Derivatives -
Cash Flow
Hedging
Relationships
Amount of Gain or
(Loss) Recognized
in AOCL
on Derivative
Location of (Loss)
or Gain
Reclassified from
AOCL into
Income
Amount of (Loss) or Gain
Reclassified from
AOCL into
Income
Net Interest Expense
on Condensed
Consolidated Statements
of Operations
Interest rate swaps for the three months ended:
June 29, 2025$(429)Interest expense$14 $(10,584)
June 30, 2024$68Interest expense$197 $(10,896)
Interest rate swaps for the six months ended:
June 29, 2025$(358)Interest expense$(41)$(20,663)
June 30, 2024$740Interest expense$397 $(21,959)