v3.26.1
DEBT
 12 Months Ended
Jun. 24, 2026
Debt Disclosure [Abstract]  
DEBT
Long-term debt consists of the following:
June 24, 2026June 25, 2025
8.25% notes
$350.0 $350.0 
Revolving credit facility— — 
Finance lease obligations98.0 97.6 
Total long-term debt448.0 447.6 
Less: unamortized debt issuance costs(3.2)(4.0)
Total long-term debt, less unamortized debt issuance costs444.8 443.6 
Less: current installments of finance lease obligations(1)
(25.1)(17.6)
Total long-term debt, less current portion$419.7 $426.0 
(1)Current installments of finance lease obligations, for the periods presented, are recorded within Other accrued liabilities in the Consolidated Balance Sheets. Refer to Note 5 - Accrued Liabilities for further details.
Revolving Credit Facility
The $1.0 billion revolving credit facility matures on May 1, 2030 and bears interest at a rate of SOFR plus an applicable margin of 1.25% to 2.00% and an undrawn commitment fee of 0.20% to 0.30%, both based on a function of our debt-to-cash-flow ratio. As of June 24, 2026, our interest rate was 4.90% consisting of SOFR of 3.65% plus the applicable margin of 1.25%.
As of June 24, 2026, the revolving credit facility had $969.9 million available, net of a $30.1 million letter of credit pledged as collateral on insurance policies. Refer to Note 8 - Commitments and Contingencies for further information about our letters of credit.
The revolving credit facility contains various financial covenants that, among other things, require the maintenance of certain leverage ratios. As of June 24, 2026, we were in compliance with our covenants pursuant to the $1.0 billion revolving credit facility.
8.25% Notes
Our previously outstanding $350.0 million 8.25% notes were scheduled to become due July 15, 2030 (fiscal 2031), with semi-annual interest payments on January 15 and July 15. The notes became callable as of July 15, 2026 at the Company’s option, at a redemption price equal to 100.0% of the principal amount redeemed plus an applicable premium if redeemed prior to July 15, 2028, and accrued and unpaid interest.
On June 16, 2026, we issued a notice of redemption for all of our outstanding 8.25% notes and subsequent to the end of the fiscal year, on July 15, 2026, the notes were redeemed at a redemption price equal to the sum of 104.125% of the principal amount plus accrued and unpaid interest for a total cash outflow of $378.9 million. The payoff was funded with borrowings from the revolving credit facility.