Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.22.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The following table summarizes the Company’s long-term debt as of June 30, 2022 and December 30, 2021:
in thousands Maturity Date Interest Rate Per Annum at June 30, 2022 June 30, 2022 December 30, 2021
Credit Facilities:
Term Loan Facility February 14, 2027 3.06% Variable $ 205,025  $ 206,602 
Asset-based Loan Facility (“ABL”) February 14, 2025 2.87% Variable 68,600  — 
Total secured debt at par value 273,625  206,602 
Less: current maturities 1,577  2,103 
Long-term debt maturities 272,048  204,499 
Less: unamortized discount and debt issuance costs 7,891  8,737 
Total long-term debt $ 264,157  $ 195,762 
The estimated fair values and classifications within the fair value hierarchy of the Term Loan Facility and ABL were as follows as of June 30, 2022 and December 30, 2021:
in thousands Fair Value Hierarchy Classification June 30, 2022 December 30, 2021
Term Loan Facility Level 3 $ 191,698  $ 202,986 
ABL Facility Level 2 68,600  — 
Total $ 260,298  $ 202,986 
Schedule of Maturities of Debt
The following table summarizes scheduled maturities of the Company’s debt as of June 30, 2022:
in thousands Amount
Twenty-six weeks ending December 29, 2022 $ 526 
2023 2,103 
2024 2,103 
2025 70,703 
2026 2,103 
Thereafter 196,087 
Total minimum debt payments $ 273,625 
Schedule of Components of Interest Expense
Components of interest expense are as follows for the periods presented:
Thirteen Weeks Ended Twenty-six Weeks Ended
in thousands June 30, 2022 July 1, 2021 June 30, 2022 July 1, 2021
Total interest costs $ 2,650  $ 1,862  $ 4,525  $ 3,831 
Interest capitalized 978  569  1,691  1,150 
Interest expense, net $ 1,672  $ 1,293  $ 2,834  $ 2,681