Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 26, 2024
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The following table summarizes the Company’s long-term debt as of December 26, 2024 and December 28, 2023:
in thousands Maturity Date Interest Rate Per Annum at December 26,
2024		 December 26,
2024		 December 28,
2023
Credit Facilities:
Term Loan Facility (1)
 February 14, 2027 6.57% Variable $ 200,293  $ 202,396 
Asset-based Loan Facility (“ABL Facility”)
 August 4, 2027 5.59% Variable —  — 
Total secured debt at par value 200,293  202,396 
Less: current maturities 2,103  2,103 
Long-term debt maturities 198,190  200,293 
Less: unamortized discount and debt issuance costs 3,663  5,354 
Total long-term debt $ 194,527  $ 194,939 
(1)The applicable interest rate for the Term Loan Facility as presented herein does not include the effect of the interest rate cap agreement, which caps Secured Overnight Financing Rate (“SOFR”) based interest payments for $150.0 million of the Term Loan Facility at 5.50%. Refer to Note 8, “Derivatives and Risk Management” for additional details related to the Company’s interest rate cap agreement.
Schedule of Maturities of Debt
The following table summarizes scheduled maturities of the Company’s debt as of December 26, 2024:
in thousands Amount
2025 $ 2,103 
2026 2,629 
2027 195,561 
Total minimum debt payments $ 200,293 
Schedule of Components of Interest Expense
Components of interest expense are as follows for the periods presented:
Fiscal Year Ended
in thousands December 26,
2024		 December 28,
2023		 December 29,
2022
Total interest expense, net of interest income (1)
 $ 11,816  $ 16,905  $ 14,942 
Less: interest capitalized
 9,043  7,008  3,804 
Interest expense, net $ 2,773  $ 9,897  $ 11,138 
(1)Total interest expense, net of interest income includes interest income related to the Company’s interest rate cap agreements totaling $1.9 million, $5.1 million, and $0.9 million during fiscal years 2024, 2023, and 2022, respectively. Refer to Note 8, “Derivatives and Risk Management” for additional details related to the Company’s interest rate cap agreements.
Schedule of Fair Value of Debt The estimated fair value and classification within the fair value hierarchy of the Term Loan Facility was as follows as of December 26, 2024 and December 28, 2023:
in thousands Fair Value Hierarchy Classification December 26,
2024		 December 28,
2023
Term Loan Facility Level 3 $ 199,542  $ 201,637