Debt (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Debt Disclosure [Abstract] |
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| Schedule of Long Term Debt |
The following table summarizes the Company's long-term debt as of December 31, 2020 and December 26, 2019 (dollars in thousands):
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Maturity Date |
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Interest Rate Per Annum at December 31,
2020 |
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December 31,
2020 |
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December 26,
2019 |
| Credit Facilities: |
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| UBS Facility Term Loan B |
February 14, 2027 |
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2.15% |
Variable |
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$ |
143,179 |
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$ |
145,500 |
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| UBS Facility Term Loan B-1 |
February 14, 2027 |
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5.00% |
Variable |
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74,625 |
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— |
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| Wells Facility Revolving Line of Credit |
February 14, 2025 |
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3.50% |
Variable |
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— |
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— |
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| Total secured debt at par value |
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217,804 |
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145,500 |
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| Less: current maturities |
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1,647 |
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— |
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| Long-term debt maturities |
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216,157 |
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145,500 |
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| Less: unamortized discount and debt issuance costs |
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9,000 |
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2,894 |
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| Total long-term debt |
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$ |
207,157 |
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$ |
142,606 |
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| Schedule of Maturities of Debt |
The following table summarizes scheduled maturities of the Company’s debt, including current maturities, as of December 31, 2020:
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| in thousands |
Amount |
| 2021 |
$ |
1,647 |
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| 2022 |
2,196 |
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| 2023 |
2,196 |
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| 2024 |
2,196 |
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| 2025 |
2,384 |
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| Thereafter (1) |
207,185 |
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| Total minimum debt payments |
$ |
217,804 |
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(1)Thereafter maturities are comprised of $136.3 million due under the term loan B facility and $70.9 million due under the term loan B-1 facility through February 14, 2027.
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| Schedule of Carrying Values and Estimated Fair Values of Debt Instruments |
At December 31, 2020 and December 26, 2019, the fair values of the Company’s debt are as follows (in thousands):
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in thousands |
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December 31,
2020 |
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December 26,
2019 |
Total debt at par value |
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$ |
217,804 |
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$ |
145,500 |
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Less: unamortized discount and debt issuance costs |
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9,000 |
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2,894 |
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Net carrying amount |
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208,804 |
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142,606 |
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Fair value |
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$ |
215,626 |
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$ |
145,136 |
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| Schedule of Components of Interest Expense |
Components of interest expense are as follows for the periods presented:
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Fiscal Year Ended |
in thousands |
December 31,
2020 |
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December 26,
2019 |
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December 27,
2018 |
| Total interest costs |
$ |
9,606 |
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$ |
8,801 |
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$ |
8,917 |
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| Interest capitalized |
1,217 |
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— |
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— |
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| Interest expense, net |
$ |
8,389 |
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$ |
8,801 |
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$ |
8,917 |
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