Line of Credit

3 Months Ended

Mar. 26, 2022

Debt Disclosure [Abstract]

Line of Credit

K. Line of Credit

In March 2018, the Company amended its credit facility in place that provides for a $150.0 million revolving line of credit to extend the scheduled expiration date to March 31, 2023. During the thirteen weeks ended March 26, 2022, the Company borrowed a total of $30.0 million of the available balance. As of March 26, 2022, the outstanding amount due was $15.0 million. The interest rate for the borrowings withdrawn is less than 1%. As of March 26, 2022, the Company was not in violation of any of its financial covenants to the lender under the credit facility and the unused balance of $135.0 million remaining on the line of credit was available to the Company for future borrowing. The outstanding $15.0 million balance was repaid on April 11, 2022.