v3.26.1
DEBT
 3 Months Ended
Mar. 28, 2026
Debt Disclosure [Abstract]  
DEBT
5. DEBT
The Company’s debt as of March 28, 2026 and December 31, 2025 consisted of the following:

(In millions)March 28, 2026December 31, 2025
Senior secured term loans B due 2029 at 5.43% (1)
$400.0 $450.0 
Senior secured notes due 2029 at 4.75%
1,600.0 1,600.0 
Senior unsecured notes due 2030 at 5.95%
895.0 895.0 
Senior unsecured notes due 2029 at 3.625%
400.0 400.0 
Senior unsecured notes due 2028 at 4.375%
400.0 400.0 
Revolving facility due 2027 (2)
— — 
Total debt (par value)3,695.0 3,745.0 
Less: Unamortized discount and debt issuance costs(43.8)(47.4)
Total debt, net3,651.2 3,697.6 
Less: Current portion of long-term debt— — 
Total long-term debt, net$3,651.2 $3,697.6 
Annual maturities of long-term debt, excluding unamortized discount and debt issuance costs, due as of March 28, 2026 were as follows:
(In millions)Remaining 2026 2027202820292030ThereafterTotal
Long-term debt obligation maturities*
$— $— $400.0 $2,400.0 $895.0 $— $3,695.0 
* Senior secured term loans B subject to Excess Cash Flow payments to the lenders.
(1) Our senior secured term loan due 2029 bears interest at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an applicable margin of 0.75%.
(2) Our senior secured revolving credit facility due 2027 (the “Revolving Facility”) bears interest at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an applicable margin of 0.75%. The Revolving Facility has commitments of $575.0 million as of March 28, 2026. There were no borrowings outstanding under the Revolving Facility as of March 28, 2026 and December 31, 2025.
During the three months ended March 28, 2026, the Company repaid a total of $50.0 million of the outstanding borrowings under the term loans B. In connection with these repayments, the Company incurred a pre-tax loss on extinguishment of debt of $0.5 million for the three months ended March 28, 2026, which is included in Other expense, net in the condensed consolidated statements of operations.