v3.25.2
Long-Term Debt (Tables)
 6 Months Ended
Jul. 27, 2025
Debt Instruments [Abstract]  
Schedule of Long-term Debt
Long-term debt and the current period interest rates were as follows:
(in thousands, except percentages)July 27, 2025January 26, 2025
Revolving loans$— $— 
Term loans146,212 181,212 
1.625% convertible senior notes due 2027
319,500 319,500 
4.00% convertible senior notes due 2028
61,950 61,950 
Total debt$527,662 $562,662 
Current portion, net$— $(45,594)
Debt issuance costs(8,725)(11,135)
Total long-term debt, net of debt issuance costs$518,937 $505,933 
Weighted-average effective interest rate (1)
3.32 %4.10 %
(1) The revolving loans and Term Loans (as defined below) bear interest at variable rates based on Adjusted Term SOFR or a Base Rate (as defined in the Credit Agreement), at the Company’s option, plus an applicable margin that varies based on the Company's consolidated leverage ratio. In the first quarter of fiscal year 2024, the Company entered into an interest rate swap agreement with a 2.75 year term to hedge the variability of interest payments on $150.0 million of debt outstanding on the Term Loans at a fixed Term SOFR rate of 3.58%, plus a variable margin and spread based on the Company’s consolidated leverage ratio. As of July 27, 2025, the effective interest rate was a weighted-average rate that represented (a) interest on $75.0 million of the debt outstanding on the Term Loans at a fixed SOFR rate of 3.58% plus a margin and spread of 1.85% (total fixed rate of 5.43%), (b) interest on the remaining debt outstanding on the Term Loans at a floating SOFR rate of 4.33% plus a margin and spread of 1.85% (total floating rate of 6.18%), (c) interest on the 2027 Notes outstanding at a fixed rate of 1.625%, and (d) interest on the 2028 Notes outstanding at a fixed rate of 4.00%. As of January 26, 2025, the effective interest rate was a weighted average-rate that represented (a) interest on $150.0 million of the debt outstanding on the Term Loans at a fixed SOFR rate of 3.58% plus a margin and spread of 3.85% (total fixed rate of 7.43%), (b) interest on the remaining debt outstanding on the Term Loans at a floating SOFR rate of 4.36% plus a margin and spread of 3.85% (total floating rate of 8.21%),(c) interest on the 2027 Notes outstanding at a fixed rate of 1.625%, and (d) interest on the 2028 Notes outstanding at a fixed rate of 4.00%.
Schedule Of Interest Expense
Interest expense was comprised of the following components for the periods presented:
 Three Months EndedSix Months Ended
(in thousands)July 27, 2025July 28, 2024July 27, 2025July 28, 2024
Contractual interest$4,734 $23,502 $10,174 $47,147 
Amortization of deferred financing costs1,271 2,379 2,525 4,758 
Write-off of deferred financing costs364 5,497 516 5,497 
Interest swap agreement(87)(2,800)(195)(5,595)
Interest rate swap termination(1,047)— (1,203)— 
Total interest expense$5,235 $28,578 $11,817 $51,807