v3.26.3
Long-Term Debt
 9 Months Ended
Oct. 04, 2026
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Long-term debt consisted of the following:
October 4, 2026December 28, 2025
Outstanding Principal
Interest Rate(1)
Outstanding Principal
Interest Rate(1)
(in thousands)(in thousands)
Syndicated Credit Facility:(2)
Revolving loan borrowings
$1,739 5.64 %$6,158 6.07 %
Term loan borrowings128,603 5.05 %175,621 5.09 %
Total borrowings under Syndicated Credit Facility
130,342 5.06 %181,779 5.12 %
   
Total debt130,342 181,779 
Less: Unamortized debt issuance costs(129)(200)
   
Total debt, net130,213 181,579 
Less: Current portion of long-term debt(8,791)(8,778)
   
Total long-term debt, net$121,422 $172,801 
(1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility without the effect of debt issuance costs.
(2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $250 million.
Syndicated Credit Facility
The Company’s Syndicated Credit Facility (the “Facility”) provides to the Company U.S. denominated and multicurrency term loans and provides to the Company and certain of its subsidiaries a multicurrency revolving loan facility. Each of the Company’s material domestic subsidiaries guarantees the obligations of the Company under its Facility. The Facility matures December 3, 2030. At October 4, 2026, the Company had available borrowing capacity of $247.7 million under the revolving loan facility.
Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on Secured Overnight Financing Rate (“SOFR”)-based and alternative currency loans is charged at varying rates computed by applying a margin over the applicable SOFR or alternative currency rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility.
Fees for commercial letters of credit are computed as a percentage of the amount available to be drawn under such letters of credit. Fees for standby letters of credit are charged at varying rates computed by applying a margin of the amount available to be drawn under such standby letters of credit, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter.
Under the Facility, the Company is required to make quarterly amortization payments on the term loan borrowings, which are due on the last day of the calendar quarter.
The Company is in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future.
Future Maturities
 
The aggregate maturities of borrowings outstanding at October 4, 2026 were as follows:
 
Fiscal YearAmount
(in thousands)
Remainder of 2026
$2,198 
20278,791 
20288,791 
20298,791 
2030101,771 
Total debt$130,342 
Total long-term debt in the consolidated condensed balance sheets includes a reduction for unamortized debt issuance costs, which are excluded from the maturities table above.