v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 27, 2026
Debt Disclosure [Abstract]  
Components of total debt
Total debt consisted of the following:
Debt DescriptionMaturityInterest Rate as of June 27, 2026Carrying Value as of June 27, 2026Carrying Value as of December 27, 2025
ABL FacilityMay 28, 20315.16%433 429 
2021 Incremental Term Loan Facility (net of $1 and $1 of unamortized deferred financing costs, respectively)
November 22, 20285.37%609 609 
2024 Incremental Term Loan Facility (net of $7 and $7 of unamortized deferred financing costs, respectively)
October 3, 20315.37%709 712 
Senior Notes due 2028 (net of $2 and $3 of unamortized deferred financing costs, respectively)
September 15, 20286.88%498 497 
Senior Notes due 2029 (net of $3 and $4 of unamortized deferred financing costs, respectively)
February 15, 20294.75%897 896 
Senior Notes due 2030 (net of $2 and $2 of unamortized deferred financing costs, respectively)
June 1, 20304.63%498 498 
Senior Notes due 2032 (net of $4 and $4 of unamortized deferred financing costs, respectively)
January 15, 20327.25%496 496 
Senior Notes due 2033 (net of $2 and $2 of unamortized deferred financing costs, respectively)
April 15, 20335.75%498 498 
Obligations under financing leases2026–2033
1.26%-8.31%
591 557 
Other debtJanuary 1, 20315.75%8 8 
Total debt5,237 5,200 
Current portion of long-term debt
(150)(137)
Long-term debt$5,087 $5,063 
Borrowings under the ABL Facility bear interest at a rate per annum equal to, at the Company’s periodic election, Term Secured Overnight Financing Rate (“Term SOFR”) or Adjusted Borrowing Rate (“ABR”), as described in the ABL Facility, plus the following margin:
Borrowing Election
Margin based on USF’s excess availability under the ABL Facility
Margin at June 27, 2026
SOFR Floor
ABR
0.00% to 0.25%
0.00%
N/A
Term SOFR
1.00% to 1.25%
1.00%
0.00%
Borrowings under the Term Loan Credit Agreement bear interest at a rate per annum equal to, at the Company’s periodic election, Term SOFR or ABR, as described in the Term Loan Credit Agreement, plus the following margin:
Borrowing Election
Margin
SOFR Floor
ABR
0.75%
N/A
Term SOFR
1.75%0.00%