9. CREDIT FACILITIES

Term Loans and Line of Credit with PNC Bank

On June 25, 2024, the Company entered into the Third Amended and Restated Credit Agreement with PNC Bank which extended the debt maturity to June 2029, maintained the $300.0 million term loan facility, increased revolving commitments to $500.0 million, and provided for an accordion feature of up to $400.0 million.

At October 3, 2026, outstanding borrowings consisted of $226.9 million under the term loan facility and $101.3 million under the revolving credit facility, resulting in total debt of $328.2 million. Available borrowing capacity under the revolving credit facility was $398.0 million.

During 2026, the Company voluntarily prepaid all scheduled principal payments due in 2026, 2027, and a portion of the payments due in 2028. As a result, no debt maturities are due in the remainder of 2026 or 2027 and scheduled principal payments due in 2028 total $20.6. All remaining principal balance is due at maturity in June 2029.

To hedge foreign currency exposure associated with certain foreign operations, €90.0 million of revolving credit facility borrowings are denominated in euros and designated as a net investment hedge. See Note 8, Derivative Instruments and Hedging Activities, for additional information.

The credit agreement contains customary affirmative and negative covenants, including financial covenants requiring the Company to maintain maximum leverage and minimum interest coverage ratios. As of October 3, 2026, the Company was in compliance with all debt covenants.

The consolidated effective interest rate on the Company's credit agreements at October 3, 2026, was 5.0%. Interest expense recognized, excluding interest rate swap activity, during the nine months ended October 3, 2026, and September 27, 2025, totaled $14.5 and $21.3, respectively.