Long-term Debt |
Long-term Debt Long-term debt consists of the following: | | | | | | | | | | | | In thousands | As of April 1, 2023 | | As of December 31, 2022 | 2025 Notes, due May 15, 2025 | $ | 402,497 | | | $ | 402,497 | | Term loan, due July 18, 2024 | 150,000 | | | 150,000 | | Revolving credit facility, due July 18, 2024 | — | | | — | | Long-term debt before debt discount | 552,497 | | | 552,497 | | Unamortized discount and issuance costs - 2025 Notes | (5,158) | | | (5,696) | | Unamortized discount and issuance costs - term loan | (477) | | | (570) | | Long-term debt less debt discount | 546,862 | | | 546,231 | | Less current maturities | — | | | — | | Long-term debt - noncurrent portion | 546,862 | | | 546,231 | | Finance lease obligations | 20,080 | | | 21,294 | | Less current maturities | (3,240) | | | (4,137) | | Long-term debt and finance lease obligations, less current portion and debt discount | $ | 563,702 | | | $ | 563,388 | |
Credit Agreement We were in compliance with all covenants related to our long-term debt as of April 1, 2023. 2025 Notes We recognized the following in interest expense (income), net related to the 2025 Notes: | | | | | | | | | | | | | | | | | | | Three Months Ended | In thousands | | | | | April 1, 2023 | | April 2, 2022 | Contractual interest expense | | | | | $ | 2,516 | | | $ | 2,516 | | Amortization of issuance costs | | | | | $ | 538 | | | $ | 521 | |
As of April 1, 2023, the remaining period for the unamortized debt issuance costs balance was approximately two years. An immaterial amount of the principal balance of the 2025 Notes was converted during the three months ended April 2, 2022. As of April 1, 2023, the stock price conditions under which the 2025 Notes can be converted at the holders’ option were not met.
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