National Vision Holdings Inc
For the period ended Mar 30, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed May 8, 2024
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6. Long-term Debt
- Long-term Debt
Long-term debt consists of the following:
| In thousands | As ofMarch 30, 2024 | As ofDecember 30, 2023 |
|---|---|---|
| 2025 Notes, due May 15, 2025 | $302,497 | $302,497 |
| Term Loan A, due June 13, 2028 | 144,375 | 146,250 |
| Revolving Loans, due June 13, 2028 | — | — |
| Long-term debt before unamortized discount and issuance costs | 446,872 | 448,747 |
| Unamortized discount and issuance costs - 2025 Notes | (2,055) | (2,497) |
| Unamortized discount and issuance costs - Term Loan A | (1,007) | (1,066) |
| Long-term debt less debt discount and issuance costs | 443,810 | 445,184 |
| Less current maturities | (7,500) | (7,500) |
| Long-term debt - noncurrent portion | 436,310 | 437,684 |
| Finance lease obligations | 15,136 | 16,067 |
| Less current maturities | (2,829) | (2,980) |
| Long-term debt and finance lease obligations, less current portion, discount, and issuance costs | $448,617 | $450,771 |
Scheduled annual maturities of debt are as follows:
| Fiscal Period | In thousands |
|---|---|
| 2024 - remainder of fiscal year | $3,750 |
| 2025 | 311,872 |
| 2026 | 7,500 |
| 2027 | 7,500 |
| 2028 | 116,250 |
| Thereafter | — |
| $446,872 |
Credit Agreement
We were in compliance with all covenants related to our long-term debt as of March 30, 2024.
2025 Notes
We recognized the following in Interest expense (income), net related to the 2025 Notes:
| Three Months Ended | ||
|---|---|---|
| In thousands | March 30, 2024 | April 1, 2023 |
| Contractual interest expense | $1,891 | $2,516 |
| Amortization of issuance costs | $442 | $538 |
As of March 30, 2024, the remaining period for the unamortized debt issuance costs balance was approximatelyone year.
As of March 30, 2024, the stock price conditions under which the 2025 Notes can be converted at the holders’ option were not met.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.