Debt

The Company's outstanding debt consists of the following as of the end of the fiscal periods (in thousands):



	2013			2012
Revolving line of credit	$	—		$	—
Capital leases	6,818			15,624
Other debt	557			651
Total debt	7,375			16,275
Less: current portion	(899		)	(8,513		)
Total long-term debt	$	6,476		$	7,762

Revolving Credit Agreement – On December 5, 2011, the Company entered into a five-year credit agreement with Wells Fargo Bank, National Association (the "Credit Agreement"), which replaced the Company's then existing credit facility that was terminated. The Credit Agreement provides for a $500 million revolving credit facility, including up to $100 million in the form of letters of credit and allows the Company, subject to the satisfaction of certain conditions, to request an increase of up to $250 million in borrowing availability to the extent that existing or new lenders agree to provide such additional revolving commitments.

The Credit Agreement matures on December 5, 2016 and is secured by a first priority security interest in certain property and assets, including receivables, inventory, deposit accounts and other personal property of the Company and is guaranteed by the Company's domestic subsidiaries.

The interest rates per annum applicable to loans under the Credit Agreement will be, at the Company's option, equal to a base rate or an adjusted LIBOR rate plus an applicable margin percentage. The applicable margin percentage for base rate loans is 0.20% to 0.50% and for adjusted LIBOR rate loans is 1.20% to 1.50%, depending on the borrowing availability of the Company.

The Credit Agreement contains certain covenants that limit the ability of the Company to, among other things: incur or guarantee additional indebtedness; pay distributions on, redeem or repurchase capital stock or redeem or repurchase subordinated debt; make investments; sell assets; and consolidate, merge or transfer all or substantially all of the Company's assets. In addition, the Credit Agreement requires that the Company maintain a minimum adjusted availability of 7.5% of its borrowing base.

There were no borrowings under the Credit Agreement as of February 1, 2014 and February 2, 2013, respectively. As of February 1, 2014, the Company had outstanding letters of credit and total borrowing capacity under the Credit Agreement of $13.0 million and $487.0 million, respectively. The Company had $11.3 million of outstanding letters of credit and $488.7 million of total borrowing capacity as of February 2, 2013.

Capital Lease Obligations – The gross and net carrying values of assets under capital leases are $30.3 million and $16.3 million, respectively, as of February 1, 2014, and $31.9 million and $21.9 million, respectively, as of February 2, 2013. The Consolidated Statement of Cash Flows for fiscal 2011 includes the non-cash impact of $19.0 million for equipment received by the Company in fiscal 2011 pursuant to a capital lease, which expires in 2014. The Company also leases two buildings from an entity that is a related party to our Chairman and Chief Executive Officer, under a capital lease entered into May 1, 1986 that expires in April 2021.

Scheduled lease payments under capital lease obligations as of February 1, 2014 are as follows (in thousands):



Fiscal Year
2014	$	1,483
2015	1,025
2016	1,024
2017	1,024
2018	1,044
Thereafter	5,091
Subtotal	10,691
Less: amounts representing interest	(3,873		)
Present value of net scheduled lease payments	6,818
Less: amounts due in one year	(798		)
Total long-term capital leases	$	6,020