|
5. Long-Term Debt
Long-term debt consists of the following:
|
Facility
|
Maturity Date
|
|
December 30, 2023
|
|
|
September 30, 2023
|
|
|
Term loan (a)
|
July 2026
|
|
$
|
1,240
|
|
|
|
3,090
|
|
|
Term loan (a)
|
July 2029
|
|
|
1,546
|
|
|
|
—
|
|
|
Revolving line of credit
|
June 2028
|
|
|
—
|
|
|
|
—
|
|
|
0.95%
First Priority Senior Secured Notes (b)
|
February 2024
|
|
|
279
|
|
|
|
279
|
|
|
1.00%
First Priority Senior Secured Notes (c)
|
July 2025
|
|
|
773
|
|
|
|
741
|
|
|
1.57%
First Priority Senior Secured Notes
|
January 2026
|
|
|
1,525
|
|
|
|
1,525
|
|
|
4.875%
First Priority Senior Secured Notes
|
July 2026
|
|
|
1,250
|
|
|
|
1,250
|
|
|
1.65%
First Priority Senior Secured Notes
|
January 2027
|
|
|
400
|
|
|
|
400
|
|
|
1.50%
First Priority Senior Secured Notes (c)
|
July 2027
|
|
|
415
|
|
|
|
397
|
|
|
5.50%
First Priority Senior Secured Notes
|
April 2028
|
|
|
500
|
|
|
|
500
|
|
|
4.50%
Second Priority Senior Secured Notes
|
February 2026
|
|
|
291
|
|
|
|
291
|
|
|
5.625%
Second Priority Senior Secured Notes
|
July 2027
|
|
|
500
|
|
|
|
500
|
|
|
Debt discounts and deferred fees
|
|
|
|
(31
|
)
|
|
|
(34
|
)
|
|
Finance leases and other
|
Various
|
|
|
40
|
|
|
|
41
|
|
|
Total long-term debt
|
|
|
|
8,728
|
|
|
|
8,980
|
|
|
Current portion of long-term debt
|
|
|
|
(25
|
)
|
|
|
(10
|
)
|
|
Long-term debt, less current portion
|
|
|
$
|
8,703
|
|
|
|
8,970
|
|
| (a) |
Effectively 98% fixed interest rate with interest rate swaps (see Note 6).
|
| (b) |
Indicates debt which has been classified as long-term debt in accordance with the Company's ability and intention to refinance such obligations on a long-term basis. As of February 2024, the Company will pay these
Notes in full (see Note 12).
|
During the quarter ended December 30, 2023, the Company extended the maturity date of $1,550 million of its outstanding term loans to July 2029.
Debt discounts and deferred financing fees are presented net of Long-term debt,
less the current portion on the Consolidated Balance Sheets and are amortized to Interest expense, net on the Consolidated Statements of Income through maturity.
|