v3.25.2
Debt and Other Obligations (Tables)
 6 Months Ended
Jul. 12, 2025
Long Term Debt (Net of Issuance Costs and Debt Discounts Excluding Line-of-credit Arrangements)

Long-term debt (net of issuance costs and debt discounts excluding line-of-credit arrangements) (leases are separately discussed in Note 6, Leases) consisted of the following at July 12, 2025 and December 28, 2024, respectively (amounts in thousands):

 

 

 

July 12, 2025

 

 

December 28, 2024

 

Unsecured previous credit facility

 

$

—

 

 

$

2,200

 

Unsecured new credit facility

 

 

—

 

 

 

—

 

2031 notes

 

 

495,845

 

 

 

495,452

 

2026 notes

 

 

399,303

 

 

 

398,992

 

2035 notes

 

 

494,506

 

 

 

—

 

2055 notes

 

 

294,500

 

 

 

—

 

Accounts receivable repurchase facility

 

 

65,000

 

 

 

125,000

 

 

 

 

1,749,154

 

 

 

1,021,644

 

Less current maturities of long-term debt

 

 

—

 

 

 

—

 

Total long-term debt

 

$

1,749,154

 

 

$

1,021,644

 
Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of July 12, 2025 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

 

Remainder of 2025

 

$

—

 

2026

 

 

400,000

 

2027

 

 

65,000

 

2028

 

 

—

 

2029

 

 

—

 

2030 and thereafter

 

 

1,300,000

 

Total

 

$

1,765,000

 
Reconciliation of Debt Issuance Costs and Debt Discounts to the Net Carrying Value for Each Debt Obligation (Excluding Line of Credit Arrangements) The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at July 12, 2025 (amounts in thousands):

 

 

 

 

 

 

Debt Issuance Costs

 

 

 

 

 

 

Face Value

 

 

and Debt Discount

 

 

Net Carrying Value

 

2055 notes

 

$

300,000

 

 

$

5,500

 

 

$

294,500

 

2035 notes

 

 

500,000

 

 

 

5,494

 

 

 

494,506

 

2031 notes

 

 

500,000

 

 

 

4,155

 

 

 

495,845

 

2026 notes

 

 

400,000

 

 

 

697

 

 

 

399,303

 

Total

 

$

1,700,000

 

 

$

15,846

 

 

$

1,684,154

 

 

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at December 28, 2024 (amounts in thousands):

 

 

 

 

 

 

Debt Issuance Costs

 

 

 

 

 

 

Face Value

 

 

and Debt Discount

 

 

Net Carrying Value

 

2031 notes

 

$

500,000

 

 

$

4,548

 

 

$

495,452

 

2026 notes

 

 

400,000

 

 

 

1,008

 

 

 

398,992

 

Total

 

$

900,000

 

 

$

5,556

 

 

$

894,444

 
Accounts Receivable Repurchase Facility  
Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the repurchase facility during the twenty-eight weeks ended July 12, 2025:

 

 

 

Amount
(thousands)

 

Balance at December 28, 2024

 

$

125,000

 

Borrowings

 

 

55,000

 

Payments

 

 

(115,000

)

Balance at July 12, 2025

 

$

65,000

 

 
Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available for working capital and general corporate purposes under the repurchase facility as of July 12, 2025:

 

 

 

Amount
(thousands)

 

Gross amount available

 

$

200,000

 

Outstanding

 

 

(65,000

)

Available for withdrawal

 

$

135,000

 
Schedule of Highest and Lowest Outstanding Balance Under Credit Facility The table below presents the highest and lowest outstanding balance under the repurchase facility during the twenty-eight weeks ended July 12, 2025:

 

 

 

Amount
(thousands)

 

High balance

 

$

155,000

 

Low balance

 

$

65,000

 
Unsecured Credit Facility  
Schedule of Borrowings and Repayments Under Credit Facility The table below presents the borrowings and repayments under the previous credit facility, for the period up to February 5, 2025, and the new credit facility, for the period on and from February 5, 2025, during the twenty-eight weeks ended July 12, 2025.

 

 

 

Amount
(thousands)

 

Balance at December 28, 2024

 

$

2,200

 

Borrowings

 

 

14,800

 

Payments

 

 

(17,000

)

Balance at July 12, 2025

 

$

—

 
Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the new credit facility as of July 12, 2025:

 

 

 

Amount
(thousands)

 

Gross amount available

 

$

500,000

 

Outstanding

 

 

—

 

Letters of credit

 

 

(8,400

)

Available for withdrawal

 

$

491,600

 
Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the previous credit facility, for the period up to February 5, 2025, and the new credit facility, for the period on and from February 5, 2025, during the twenty-eight weeks ended July 12, 2025:

 

 

 

Amount
(thousands)

 

High balance

 

$

8,600

 

Low balance

 

$

—