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Senior Credit Facility
9 Months Ended
Sep. 26, 2015
Debt Disclosure [Abstract]  
Senior Credit Facility
Senior Credit Facility:

The Company has entered into a Credit Agreement, dated as of October 24, 2011, as amended on May 16, 2014, with certain lenders and Bank of America, N.A., as administrative agent for the lenders (the “Senior Credit Facility”). The Senior Credit Facility provides for borrowings up to $400 million (with a sublimit of $30 million for swingline loans). This agreement is unsecured and matures in October 2016, with proceeds available to be used for working capital, capital expenditures, dividends, share repurchases and other matters. Under the Senior Credit Facility, the Company had $190.0 million outstanding at September 26, 2015, no outstanding borrowings at December 27, 2014, and $150.0 million outstanding at September 27, 2014. There were $42.8 million, $40.7 million, and $41.1 million outstanding letters of credit under the Senior Credit Facility as of September 26, 2015, December 27, 2014, and September 27, 2014, respectively. Borrowings bear interest at either the bank’s base rate (3.25% at September 26, 2015) or the London Inter-Bank Offer Rate (“LIBOR”) (0.19% at September 26, 2015) plus an additional amount ranging from 0.40% to 1.00% per annum (0.50% at September 26, 2015), adjusted quarterly based on our leverage ratio.  The Company is also required to pay, quarterly in arrears, a commitment fee for unused capacity ranging from 0.08% to 0.20% per annum (0.10% at September 26, 2015), adjusted quarterly based on the Company’s leverage ratio.  The agreement requires quarterly compliance with respect to fixed charge coverage and leverage ratios.  As of September 26, 2015, the Company was in compliance with all debt covenants.