Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.2
Debt (Tables)
 6 Months Ended
Jul. 01, 2021
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The following table summarizes the Company’s long-term debt as of July 1, 2021 and December 31, 2020:
in thousands Maturity Date Interest Rate Per Annum at July 1, 2021 July 1, 2021 December 31, 2020
Credit Facilities:
Term Loan B February 14, 2027 2.10% Variable $ 207,127  $ 143,179 
Term Loan B-1 February 14, 2027 n/a n/a —  74,625 
Spartan Revolving Line of Credit Facility n/a 2.63% Variable 3,366  — 
Asset-based Loan Facility (“ABL”) February 14, 2025 n/a Variable —  — 
Total secured debt at par value 210,493  217,804 
Less: current maturities 5,469  1,647 
Long-term debt maturities 205,024  216,157 
Less: unamortized discount and debt issuance costs 9,581  9,000 
Total long-term debt $ 195,443  $ 207,157 
Total debt at fair value $ 205,056  $ 215,626 
Schedule of Maturities of Debt
The following table summarizes scheduled maturities of the Company’s debt, including current maturities, as of July 1, 2021:
in thousands Amount
Twenty-six weeks ending December 30, 2021 (1) $ 4,417 
2022 2,103 
2023 2,103 
2024 2,103 
2025 2,103 
Thereafter 197,664 
Total minimum debt payments $ 210,493 
(1) Twenty-six weeks ending December 30, 2021 maturities are comprised of $1,051 thousand due on the senior secured term loan facility and $3,366 thousand due on the Spartan revolving line of credit facility.
Schedule of Components of Interest Expense
Components of interest expense are as follows for the periods presented:
in thousands July 1, 2021 June 25, 2020
Total interest costs $ 3,831  $ 4,426 
Interest capitalized 1,150  316 
Interest expense, net $ 2,681  $ 4,110