Long-Term Debt

3 Months Ended

Mar. 30, 2024

Long-Term Debt [Abstract]

Long-Term Debt

Note 5 – Long-Term Debt

Long-term debt consists of the following:

	March 30, 2024			December 31, 2023
Credit facility	$	-		$	-
Convertible senior notes, due 2025		95,102			95,102
Convertible senior notes, due 2030		750,000			750,000
Deferred financing costs		(25,695	)		(26,914	)
		819,407			818,188
Less current portion		-			-
	$	819,407		$	818,188

The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of March 30, 2024:

	2025 Notes			2030 Notes
Issuance date	June 12, 2018			September 12, 2023
Maturity date	June 15, 2025			September 15, 2030
Principal amount as of March 30, 2024	$	95,102		$	750,000
Cash coupon rate (per annum)		2.25	%		2.25	%
Conversion rate (per $1 principal amount)		32.1476			33.1609
Effective conversion price (per share)	$	31.11		$	30.16
130% of the current effective conversion price (per share)	$	40.44		$	39.21

Deferred financing costs are recognized as non-cash interest expense.  Non-cash interest expense was $1,213 and $818 for the fiscal quarters ended March 30, 2024 and April 1, 2023, respectively.