
	March 29, 2026				December 28, 2025
	Carrying Amount		Fair Value (1)		Carrying Amount		Fair Value (1)
Borrowings under revolving line of credit	$	89,676	$	89,607	$	91,201	$	91,173
Term loans under loan facility	616,000		616,154		616,000		617,799
Total loan facility	705,676		705,761		707,201		708,972
Equipment loans:
1.75%, due March 2027	2,257		2,216		2,815		2,768
1.75%, due March 2027	5,266		5,171		6,568		6,458
2.96%, due March 2027	5,300		5,228		6,601		6,531
3.27%, due March 2027	6,243		6,173		7,799		7,737
3.40%, due March 2027	3,469		3,430		4,252		4,220
3.51%, due March 2027	6,429		6,361		8,522		8,465
Other equipment loans	4,329		4,673		4,660		4,843
Total long-term debt	$	738,969	$	739,013	$	748,418	$	749,994
Current portion of long-term debt	(29,744)				(29,543)
Unamortized discount and debt issuance costs	(10,389)				(10,803)
Long-term debt, net of current portion	$	698,836			$	708,072

On August 27, 2021, the Company entered into an amended and restated credit agreement. The agreement provided for a $1.145 billion secured term loan facility, at a discount of 1.00%, and a $400 million secured revolving credit facility. On July 9, 2025, the Company signed the sixth amendment to its amended and restated credit agreement to refinance and replace in full the existing term loan facility with an $800 million term loan facility, $93.6 million of which was comprised of new term loans used to refinance existing indebtedness and $706.4 million of which was used to refinance existing term loans. This amendment also increased the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million. This multi-currency facility allows the Company to request loan advances in either Canadian dollars or U.S. dollars. Amounts borrowed and repaid under the revolving line of credit portion of the facility are available

The obligations under the credit agreement are secured by present and future ownership interests in substantially all direct and indirect subsidiaries of the Company, substantially all of the tangible and intangible personal property of each borrower, and all products, profits, and proceeds of the foregoing. The Company’s assets securing the facility as of March 29, 2026 totaled $2.3 billion. The credit agreement also contains a restriction on dividend payments with an available amount generally defined as $65.0 million plus 50% of the Company’s consolidated net income since the beginning of the third fiscal quarter of 2025 adjusted for certain items, such as parent capital contributions, redeemable noncontrolling interest payments, and dividend payments, among other adjustments, as applicable.

The applicable margin for the revolving credit facility ranges from 1.25% to 2.25% for SOFR and Canadian Overnight Repo Rate Average (“CORRA”) loans and from 0.25% to 1.25% for base rate loans, depending on the Company’s net leverage ratio. The term loan facility has a fixed margin of 1.00% for base rate loans and 2.00% for SOFR loans. The table below summarizes the weighted average interest rates on the term loan facility and revolving credit facility as of the end of March 29, 2026 and December 28, 2025:

The Company is required to maintain a leverage ratio of 4.50 to 1.00 for any future quarter ending prior to September 30, 2026, and 4.00 to 1.00 for any quarter ending on or after September 30, 2026. The Company is also required to maintain an interest coverage ratio of greater than a minimum of 2.50 to 1.00.

As of March 29, 2026, the Company was in compliance with all of the financial covenants under the revolving credit facility. The Company is required to pay a commitment fee on the unused portion of the commitments which ranges from 0.15% to 0.35% per annum, depending on the Company’s net leverage ratio.

As of both March 29, 2026 and December 28, 2025, the Company had borrowings outstanding of $0.7 billion under its amended and restated credit agreement. The amount available under the revolving line of credit is further reduced by the amount of any outstanding letters of credit issued by the Company under the agreement. Accordingly, there was $303.9 million, net of outstanding letters of credit, of unused capacity on the revolving line of credit as of March 29, 2026. The Company had $68.6 million of unused letters of credit available as of both March 29, 2026 and December 28, 2025. Debt issuance costs associated with the Company’s line of credit are amortized over the term of the related line of credit. As of March 29, 2026 and December 28, 2025, there was $2.7 million and $2.9 million, respectively, in debt issuance costs recorded in other assets on the condensed consolidated balance sheets.

Debt issuance costs associated with the Company’s term loan facility are amortized over the term of the related debt, which approximates the effective interest method. As of March 29, 2026 and December 28, 2025, debt issuance costs of $10.4 million and $10.8 million, respectively, were recorded as a reduction to long-term debt on the condensed consolidated balance sheets.

Amortization expense related to debt issuance costs is recorded as a component of interest expense in the condensed consolidated statements of operations. During the fiscal three months ended March 29, 2026 and March 30, 2025, amortization of debt issuance costs was $0.6 million and $1.2 million, respectively.

As of March 29, 2026, the Company had six U.S. equipment term loans with initial amounts totaling approximately $150.0 million, with certain owned equipment used as collateral. The loans are serviced in U.S. dollars.

The fair value of the Company’s debt as of both March 29, 2026 and December 28, 2025 was $0.7 billion. The carrying value of the Company’s revolving credit facility approximates fair value given interest rates on the revolving credit facility approximate market rates, and typically draws on the revolving credit facility are paid back in a short period of time. The fair values of the Company’s term loan facility and equipment loans were determined utilizing a market-based