Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.22.2.2
Debt (Tables)
 9 Months Ended
Sep. 29, 2022
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The following table summarizes the Company’s long-term debt as of September 29, 2022 and December 30, 2021:
in thousands Maturity Date Interest Rate Per Annum at 9/29/2022 (1) September 29, 2022 December 30, 2021
Credit Facilities:
Term Loan Facility February 14, 2027 4.53% Variable $ 205,025  $ 206,602 
Asset-based Loan Facility (“ABL”) August 4, 2027 3.92% Variable 176,400  — 
Total secured debt at par value 381,425  206,602 
Less: current maturities 2,103  2,103 
Long-term debt maturities 379,322  204,499 
Less: unamortized discount and debt issuance costs 7,468  8,737 
Total long-term debt $ 371,854  $ 195,762 
(1) The applicable interest rate for the Term Loan Facility does not include the effect of interest rate cap agreements.
The estimated fair values and classifications within the fair value hierarchy of the Term Loan Facility and ABL were as follows as of September 29, 2022 and December 30, 2021:
in thousands Fair Value Hierarchy Classification September 29, 2022 December 30, 2021
Term Loan Facility Level 3 $ 199,899  $ 202,986 
ABL Facility Level 2 176,400  — 
Total $ 376,299  $ 202,986 
Schedule of Maturities of Debt
The following table summarizes scheduled maturities of the Company’s debt as of September 29, 2022:
in thousands Amount
Thirteen weeks ending December 29, 2022 $ 526 
2023 2,103 
2024 2,103 
2025 2,103 
2026 2,103 
Thereafter 372,487 
Total minimum debt payments $ 381,425 
Schedule of Components of Interest Expense
Components of interest expense are as follows for the periods presented:
Thirteen Weeks Ended Thirty-nine Weeks Ended
in thousands September 29, 2022 September 30, 2021 September 29, 2022 September 30, 2021
Total interest costs $ 4,092  $ 1,906  $ 8,617  $ 5,737 
Interest capitalized 1,060  782  2,751  1,932 
Interest expense, net $ 3,032  $ 1,124  $ 5,866  $ 3,805