Debt |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt | Debt The following table presents the components of debt balances, net of issuance costs:
In September of 2023, the Company entered into a Credit Agreement, consisting of a $500 million term loan (the "Term Loan"), a $250 million delayed draw term loan ("Delayed Term Loans"), and a $350 million equivalent multicurrency revolving credit facility (collectively, the “Credit Facility”). During the first quarter of 2025, the Company incurred an additional $50 million of borrowings related to the Delayed Term Loans, which will amortize in equal quarterly installments of 1.25% of the principal balance beginning in September 2025 through the maturity date in September 2028. Additionally, in the first quarter of 2025, the Company made a $6 million payment on the term loan as required under the Credit Facility. Total remaining borrowings available under the Credit Facility as of March 29, 2025 was $483 million.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||