SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Tables)

12 Months Ended

Jan. 02, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table presents the components of long-term debt as recorded in the Company's balance sheets:

(In thousands)	December 2020		December 2019
Revolving Credit Facility	$	—	$	—
Term Loan A	694,241		695,111
Term Loan B	218,716		218,158
Total long-term debt	912,957		913,269
Less: current portion	(25,000)		—
Long-term debt, due beyond one year	$	887,957	$	913,269

Payments of Long-term Debt and Future Minimum Lease Payments

The following table presents scheduled payments of long-term debt as of December 2020 for the next five years and thereafter:

(In thousands)	Future Principal Payments
2021	$	25,000
2022	37,500
2023	37,500
2024	600,000
2025	13,000
Thereafter	210,000
	923,000
Less: unamortized debt discount	(1,730)
Less: unamortized debt issuance costs	(8,313)
Total long-term debt	912,957
Less: current portion	(25,000)
Long-term debt, due beyond one year	$	887,957