XML 49 R34.htm IDEA: XBRL DOCUMENT v3.19.2
Borrowings (Tables)
 9 Months Ended
Jun. 28, 2019
Debt Disclosure [Abstract]  
Schedule of Long-term Debt At June 28, 2019 and September 28, 2018, long-term debt consisted of the following (principal amounts in thousands):
 
Interest Rate
 
Maturity
 
June 28, 2019
 
September 28, 2018
New Credit Agreement
LIBOR + applicable margin (1)
 
March 2024
 
$
129,046

 
$
—

Revolving Credit Facility
LIBOR + applicable margin (2)
 
February 2020
 
—

 
149,129

Term Loan Facility
LIBOR + applicable margin (3)
 
December 2020
 
400,000

 
1,500,000

Fixed-rate notes due:
 
 
 
 
 
 
 
Senior Notes, Series A
4.27%
 
May 2025
 
190,000

 
190,000

Senior Notes, Series B
4.42%
 
May 2028
 
180,000

 
180,000

Senior Notes, Series C
4.52%
 
May 2030
 
130,000

 
130,000

Less: Deferred Financing Fees
 
 
 
 
(3,848
)
 
(4,998
)
Other
Varies
 
Varies
 
—

 
36

Total Long-term debt, net
 
 
 
 
$
1,025,198

 
$
2,144,167

(1)
Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the New Credit Agreement (defined below)), borrowings under the New Credit Agreement bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rate at June 28, 2019 was approximately 1.38%.
(2)
Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the Revolving Credit Facility (defined below)), borrowings under the Revolving Credit Facility bore interest at either a eurocurrency rate plus a margin of between 1.0% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rates at September 28, 2018 were approximately 1.38% to 3.47%, respectively.
(3)
Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the Term Loan Facility (defined below)), borrowings under the Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 1.0% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rates at June 28, 2019 and September 28, 2018 was approximately 3.78% and 3.71%, respectively.