Debt (Tables)

9 Months Ended

Sep. 29, 2024

Long-term debt, net, consists of the following (in thousands):


	September 29, 2024		December 31, 2023
Senior notes	$	400,000	$	400,000
Revolving facilities (a)	332,412		364,000
Outstanding debt	$	732,412	$	764,000
Unamortized debt issuance costs	(5,407)		(6,578)
Current portion of long-term debt	(5,650)		—
Total long-term debt, net	$	721,355	$	757,422

___________________________________

(a) Revolving facilities as of September 29, 2024 includes $5.7 million outstanding under the PJMF Revolving Facility as defined and discussed below.

Schedule of notional value of derivatives

As of September 29, 2024, we have the following interest rate swap agreements:

Effective Dates

Floating Rate Debt

Fixed Rates

June 23, 2023 through June 30, 2025

50 million

4.55%

June 23, 2023 through June 30, 2025

50 million

4.55%

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 financial statements (in thousands):


	Interest Rate Swap Derivatives
Balance Sheet Location	Fair Value September 29, 2024		Fair Value December 31, 2023
Prepaid and other current assets	$	—	$	107

Accrued expenses and other current liabilities	$	479	$	—
Other long-term liabilities	$	—	$	483

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		Total Net Interest Expense on Condensed Consolidated Statements of Operations
Interest rate swaps for the three months ended:
September 29, 2024	$	(820)	Interest expense	$	194	$	(10,629)
September 24, 2023	$	801	Interest expense	$	203	$	(11,378)

Interest rate swaps for the nine months ended:
September 29, 2024	$	(80)	Interest expense	$	591	$	(32,588)
September 24, 2023	$	2,225	Interest expense	$	(40)	$	(31,674)

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details