v3.21.1
DEBT
3 Months Ended
Mar. 28, 2021
Debt Disclosure [Abstract]  
DEBT
9. DEBT
A summary of total debt outstanding at March 28, 2021 and December 31, 2020 is as follows:
(thousands) March 28, 2021 December 31, 2020
Long-term debt:
1.0% convertible notes due 2023
$ 172,500  $ 172,500 
Term loan due 2024 92,500  92,500 
Revolver due 2024 248,000  275,000 
7.5% senior notes due 2027
300,000  300,000 
Total long-term debt 813,000  840,000 
Less: convertible notes debt discount, net (14,304) (16,072)
Less: term loan deferred financing costs, net (404) (434)
Less: senior notes deferred financing costs, net (4,943) (5,087)
Less: current maturities of long-term debt (7,500) (7,500)
Total long-term debt, less current maturities, net $ 785,849  $ 810,907 
There were no material changes to any of our debt arrangements during the quarter ended March 28, 2021. See Note 17 for a description of changes to our debt arrangements subsequent to March 28, 2021.
Interest rates for borrowings under the revolver and term loan are the prime rate or LIBOR plus a margin. At March 28, 2021, all of the Company's borrowings under the revolver and term loan were under the LIBOR-based option. The interest rate for incremental borrowings at March 28, 2021 was LIBOR plus 1.5% (or 1.63%) for the LIBOR-based option. The fee payable on committed but unused portions of the revolver was 0.20% at March 28, 2021.Total cash interest paid for the first quarter of 2021 and 2020 was $3.3 million and $2.6 million, respectively.