XML 100 R14.htm IDEA: XBRL DOCUMENT
v2.3.0.15

Borrowings | 12 Months Ended
--- | ---
Sep. 30, 2011
Borrowings |
Borrowings | 6. Borrowings Short-Term Credit Arrangements The following table presents certain information regarding the Company's various credit facilities and bank loan agreements at September 30, 2011 and October 1, 2010 (dollars in thousands):
|  | 2011 |  |  | 2010 |
|  | Principal Balance Outstanding |  |  | Range of Interest Rates |  |  | Principal Balance Outstanding |  |  | Range of Interest Rates |
$290.0 Million revolving credit facility |  | $ | 171,788 |  |  |  | 0.96 – 1.57 | % |  | $ | — |  |  |  | — |
Bilateral loan agreements |  | $ | 392,059 |  |  |  | 1.0 – 2.15 | % |  | $ | 79,157 |  |  |  | 1.42 | %
Other loan agreements |  | $ | 2,184 |  |  |  | 6.0 | % |  | $ | 242 |  |  |  | 4.5 | %
The Company's $290.0 million revolving credit facility expires in May 2012; hence, amounts classified previously as long-term debt are now classified as current liabilities in the accompanying Consolidated Balance Sheet at September 30, 2011. This facility provides for unsecured borrowings from banks (a syndicate consisting of U.S., Canadian, European, and Asian banks) at either fixed rates offered by the banks at the time of borrowing on loans not greater than twelve months, or at variable rates based on the agent bank's base rate, LIBOR or the latest federal funds rate. The credit agreement contains certain negative covenants relating to the Company's "consolidated net worth", and a "leverage ratio" based on outstanding borrowings (including financial letters of credit) and earnings before interest, taxes, depreciation, and amortization (all as defined in the agreement). The agreement requires us to pay a facility fee based on the total amount of the commitments. The Company's "bilateral loan agreements" include a number of credit facilities with major U.S. and European banks entered into in fiscal 2011 in connection with the acquisition of the Aker Entities. Also included in this category are amounts outstanding under two bilateral facilities we entered into in connection with the Company's purchases of (i) a one-third interest in AWE, and (ii) an additional 55% interest in CES. These bilateral loan agreements expire between April 30, 2012 and May 28, 2012, and bear interest at Libor plus 0.75%. The following table presents certain additional information regarding the Company's various loan agreements for he fiscal years shown:
|  | 2011 |  |  | 2010 |
Maximum amount outstanding at any month-end during the fiscal year |  | $ | 675,083 |  |  | $ | 117,482 |
Average amount outstanding during the year |  | $ | 403,649 |  |  | $ | 84,018 |
Weighted average interest rate during the year |  |  | 1.81 | % |  |  | 1.29 | %
Included in "Long-term Debt" in the accompanying Consolidated Balance Sheets at September 30, 2011 and October 1, 2010 are amounts relating to a real estate mortgage and other, miscellaneous indebtedness assumed in connection with various business combinations. The following table presents the amount of interest paid by the Company during fiscal 2011, 2010, and 2009 (in thousands):
|  | 2011 |  |  | 2010 |  |  | 2009 |
Amount of interest paid |  | $ | 7,778 |  |  | $ | 11,702 |  |  | $ | 1,690 |
Included in interest payments during fiscal 2010 is approximately $9.9 million of interest paid in connection with the SIVOM judgment (see Note 11—Contractual Guarantees, Litigation, Investigations, and Insurance, below).

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration