Janus International (US:JBI)2024-02-28 21:35Financial Overview - Steel coils comprise approximately 58.3% of commodity spend for the fiscal year ended December 30, 2023, down from 62.2% in the previous year[326]. - The interest rate on the Amendment No. 6 First Lien term loan as of December 30, 2023, was 8.76%, based on Adjusted Term SOFR with a 1.00% floor[327]. - The Company maintains a $125.0 million credit facility with an interest rate of 6.8% as of December 30, 2023[328]. - Inflationary factors may adversely affect operating results if the Company cannot pass on cost increases to customers[332]. Customer and Employee Insights - As of December 30, 2023, one customer accounted for 11% of the accounts receivable balance, with no other customers exceeding 10%[331]. - The Company has 1,864 full-time and part-time employees worldwide, with approximately 59% engaged in manufacturing and production roles[63][64]. Environmental and Safety Initiatives - The Company aims to cut greenhouse gas emissions by up to 40% from 2005 levels in the U.S. by 2030, in line with the Inflation Reduction Act of 2022[62]. - The Company tracks OSHA recordable injuries and lost time rates monthly, establishing annual safety targets[66]. Raw Material Management - The Company has not entered into hedges for raw material costs but may consider doing so in the future to combat price fluctuations[326]. - The Company continues to develop new potentially patentable products and enhancements, with patents expiring between 2026 and 2041[57].