v3.25.2
Debt
 6 Months Ended
Jun. 27, 2025
Debt Disclosure [Abstract]  
Debt Debt
Following is a summary of the Company’s debt:

(in thousands)Maturity
Date		Interest
Rate		Interest
Paid		Public/
Nonpublic		June 27,
2025		December 31,
2024
Senior bonds (the “2025 Senior Bonds”)(1)
11/25/20253.800%Semi-annuallyPublic$350,000 $350,000 
Senior notes10/10/20263.930%QuarterlyNonpublic100,000 100,000 
Senior bonds (the “2029 Senior Bonds”)(2)
6/1/20295.250%Semi-annuallyPublic700,000 700,000 
Revolving credit facility(3)
6/10/2029VariableVariesNonpublic— — 
Senior notes3/21/20303.960%QuarterlyNonpublic150,000 150,000 
Senior bonds (the “2034 Senior Bonds”)(4)
6/1/20345.450%Semi-annuallyPublic500,000 500,000 
Unamortized discount on senior bonds(1)(2)(4)
Various(1,342)(1,482)
Debt issuance costs(10,989)(12,170)
Total debt1,787,669 1,786,348 
Less: Current portion of debt(1)
349,863 349,699 
Total long-term debt$1,437,806 $1,436,649 

(1)The 2025 Senior Bonds were issued at 99.975% of par. As of June 27, 2025 and December 31, 2024, the 2025 Senior Bonds, net of debt issuance costs and unamortized discount, were classified as current portion of debt in the condensed consolidated balance sheets.
(2)The 2029 Senior Bonds were issued at 99.843% of par.
(3)The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company.
(4)The 2034 Senior Bonds were issued at 99.893% of par.

The Company mitigates its financing risk by using multiple financial institutions and only entering into credit arrangements with institutions with investment grade credit ratings. The Company monitors counterparty credit ratings on an ongoing basis.

The indentures under which the 2025 Senior Bonds, the 2029 Senior Bonds and the 2034 Senior Bonds were issued do not include financial covenants, but do limit the incurrence of certain liens and encumbrances as well as indebtedness by the Company’s subsidiaries in excess of certain amounts. The agreements under which the Company’s nonpublic debt, including its revolving credit facility, was issued include two financial covenants: a consolidated cash flow/fixed charges ratio and a consolidated funded indebtedness/cash flow ratio, each as defined in the respective agreement. The Company was in compliance with these covenants as of June 27, 2025. These covenants have not restricted the Company’s liquidity or capital resources.

All outstanding debt has been issued by the Company and none has been issued by any of its subsidiaries. There are no guarantees of the Company’s debt.