Debt (Tables)

9 Months Ended

Sep. 29, 2022

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The following table summarizes the Company’s long-term debt as of September 29, 2022 and December 30, 2021:

in thousands	Maturity Date	Interest Rate Per Annum at 9/29/2022 (1)		September 29, 2022		December 30, 2021
Credit Facilities:
Term Loan Facility	February 14, 2027	4.53%	Variable	$	205,025	$	206,602
Asset-based Loan Facility (“ABL”)	August 4, 2027	3.92%	Variable	176,400		—
Total secured debt at par value				381,425		206,602
Less: current maturities				2,103		2,103
Long-term debt maturities				379,322		204,499
Less: unamortized discount and debt issuance costs				7,468		8,737
Total long-term debt				$	371,854	$	195,762

(1) The applicable interest rate for the Term Loan Facility does not include the effect of interest rate cap agreements.

The estimated fair values and classifications within the fair value hierarchy of the Term Loan Facility and ABL were as follows as of September 29, 2022 and December 30, 2021:

in thousands	Fair Value Hierarchy Classification	September 29, 2022		December 30, 2021
Term Loan Facility	Level 3	$	199,899	$	202,986
ABL Facility	Level 2	176,400		—
Total		$	376,299	$	202,986

Schedule of Maturities of Debt

The following table summarizes scheduled maturities of the Company’s debt as of September 29, 2022:

in thousands	Amount
Thirteen weeks ending December 29, 2022	$	526
2023	2,103
2024	2,103
2025	2,103
2026	2,103
Thereafter	372,487
Total minimum debt payments	$	381,425

Schedule of Components of Interest Expense

Components of interest expense are as follows for the periods presented:

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
in thousands	September 29, 2022		September 30, 2021		September 29, 2022		September 30, 2021
Total interest costs	$	4,092	$	1,906	$	8,617	$	5,737
Interest capitalized	1,060		782		2,751		1,932
Interest expense, net	$	3,032	$	1,124	$	5,866	$	3,805