Debt (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Schedule of Debt |
Debt consisted of the following as of December 31, 2022 and January 1, 2022: | | | | | | | | | | | | | | | | | | 2022 | | 2021 | | Term Loan, due 2027: | | | | | $509.6 million and $610.0 million, net of $5.0 million and $0.7 million discount at December 31, 2022 and January 1, 2022, respectively | | $ | 504,549 | | | $ | 609,298 | | | 6 1⁄2% Senior Notes, due 2027 | | 300,000 | | | 300,000 | | | 5 1⁄4% Senior Notes, due 2029 | | 700,000 | | | 700,000 | | | Total | | 1,504,549 | | | 1,609,298 | | | Current portion of long-term debt | | 5,096 | | | 6,354 | | | Long-term debt | | $ | 1,499,453 | | | $ | 1,602,944 | |
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| Schedule of Contractual Payments of Long-Term Debt |
The contractual payments of long-term debt, including current maturities, for the five years subsequent to December 31, 2022, are as follows: | | | | | | | 2023 | $ | 5,096 | | | 2024 | 3,822 | | | 2025 | 6,369 | | | 2026 | 5,096 | | | 2027 | 789,177 | | | Thereafter | 700,000 | | | Total | 1,509,560 | | | Less: Original issue net discount | (5,011) | | | Less: Capitalized loan costs | (10,884) | | | Total debt | $ | 1,493,665 | |
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| Summary of Activity for Deferred Financing Fees |
The following table presents the activity for the deferred financing fees for the years ended December 31, 2022 and January 1, 2022: | | | | | | | | | | Deferred financing fees | | Balance—January 2, 2021 | $ | 18,367 | | | | | Amortization | (3,202) | | | Write off of deferred financing fees | (2,116) | | | Balance—January 1, 2022 | $ | 13,049 | | | Loan origination fees | 1,557 | | | Amortization | (2,655) | | | Write off of deferred financing fees | (462) | | | Balance—December 31, 2022 | $ | 11,489 | |
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| Summit Materials, LLC |
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| Schedule of Debt |
Debt consisted of the following as of December 31, 2022 and January 1, 2022: | | | | | | | | | | | | | | | | | | 2022 | | 2021 | | Term Loan, due 2027: | | | | | $509.6 million and $610.0 million, net of $5.0 million and $0.7 million discount at December 31, 2022 and January 1, 2022, respectively | | $ | 504,549 | | | $ | 609,298 | | | 6 1⁄2% Senior Notes, due 2027 | | 300,000 | | | 300,000 | | | 5 1⁄4% Senior Notes, due 2029 | | 700,000 | | | 700,000 | | | Total | | 1,504,549 | | | 1,609,298 | | | Current portion of long-term debt | | 5,096 | | | 6,354 | | | Long-term debt | | $ | 1,499,453 | | | $ | 1,602,944 | |
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| Schedule of Contractual Payments of Long-Term Debt |
The contractual payments of long-term debt, including current maturities, for the five years subsequent to December 31, 2022, are as follows: | | | | | | | | | | 2023 | $ | 5,096 | | | 2024 | 3,822 | | | 2025 | 6,369 | | | 2026 | 5,096 | | | 2027 | 789,177 | | | Thereafter | 700,000 | | | Total | 1,509,560 | | | Less: Original issue net discount | (5,011) | | | Less: Capitalized loan costs | (10,884) | | | Total debt | $ | 1,493,665 | |
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| Summary of Activity for Deferred Financing Fees |
The following table presents the activity for the deferred financing fees for the years ended December 31, 2022 and January 1, 2022: | | | | | | | | Deferred financing fees | | Balance—January 2, 2021 | $ | 18,367 | | | | | Amortization | (3,202) | | | Write off of deferred financing fees | (2,116) | | | Balance—January 1, 2022 | $ | 13,049 | | | Loan origination fees | 1,557 | | | Amortization | (2,655) | | | Write off of deferred financing fees | (462) | | | Balance—December 31, 2022 | $ | 11,489 | |
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