v3.25.1
Long-Term Debt
 3 Months Ended
Mar. 28, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
Note 8 – Long-Term Debt
Long‑term debt consists of the following:
March 28,
2025		December 27,
2024
Term loan$127,500 $129,375 
Revolving credit facility— — 
Total principal amount of long-term debt127,500 129,375 
Less unamortized debt issuance costs(736)(852)
Total long-term debt, net126,764 128,523 
Less current portion(7,500)(7,500)
Total long-term debt, less current portion, net$119,264 $121,023 
On October 29, 2021, we entered into an amended and restated credit agreement, which includes a group of financial institutions as direct lenders under the agreement that was subsequently amended on September 30, 2024 (the "credit agreement"). The credit agreement includes a $150.0 million term loan facility and a $250.0 million revolving credit facility (together, “credit facilities”). Term loan principal payments of $1.9 million are due on a quarterly basis. The credit agreement matures on October 29, 2026.
As of March 28, 2025, interest is charged at either the Base Rate or SOFR (as such terms are defined in the credit agreement) at our option, plus an applicable margin. The Base Rate is equal to the higher of i) the Prime Rate, ii) the Federal Funds Rate plus 0.5%, or iii) SOFR plus 1.00%. The applicable margin on Base Rate and SOFR loans is 0.375% to 1.375% and 1.375% to 2.375% per annum, respectively, depending on our leverage ratio, which is based on trailing 12-month consolidated EBITDA, as defined in our credit agreement. We are also charged a commitment fee of 0.175% to 0.350%, depending on our leverage ratio, on the unused portion of our revolving credit facility. Base Rate interest payments and commitment fees are due quarterly. SOFR interest payments are due on the last day of the applicable interest period, or quarterly for applicable interest periods longer than three months. As of March 28, 2025, our credit facilities bore interest under the SOFR option at 6.06%.