LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS

Long-Term Debt

Long-term debt, net consists of the following:



	December 30, 2017			December 31, 2016
	(in thousands)
Term loans	$	601,250		$	633,750
Revolving credit facility	500,997			578,759
Other long-term debt	18,292			185
Total debt	1,120,539			1,212,694
Less: Current portion of long-term debt	(28,546		)	(24,560		)
Long-term debt	1,091,993			1,188,134
Debt discount and debt issuance costs	(5,770		)	(7,633		)
Long-term debt, net	$	1,086,223		$	1,180,501

As of December 30, 2017 and December 31, 2016, the weighted average interest rate on the Company’s debt was 2.45% and 1.89%, respectively.

On March 30, 2016, the Company amended and restated its $1.3B credit facility creating a $1.65 billion credit facility ($1.65B Credit Facility) which (1) extends the maturity date for the credit facility and (2) makes certain other amendments in connection with the Company’s acquisition of WIL Research. The amendment was accounted for as a debt modification with a partial extinguishment of debt. In connection with the transaction, the Company capitalized approximately $3.3 million and expensed approximately $1.0 million of debt issuance costs.

The $1.65B Credit Facility provides for a $650.0 million term loan and a $1.0 billion multi-currency revolving facility. The term loan facility matures in 19 quarterly installments with the last installment due March 30, 2021. The revolving facility matures on March 30, 2021, and requires no scheduled payment before that date. Under specified circumstances, the Company has the ability to increase the term loan and/or revolving facility by up to $500.0 million in the aggregate.

The interest rates applicable to the term loan and revolving facility under the $1.65B Credit Facility are, at the Company’s option, equal to either the base rate (which is the higher of (1) the prime rate, (2) the federal funds rate plus 0.50%, or (3) the one-month adjusted LIBOR rate plus 1.0%) or the adjusted LIBOR rate, plus an interest rate margin based upon the Company’s leverage ratio.

The $1.65B Credit Facility includes certain customary representations and warranties, events of default, notices of material adverse changes to the Company’s business and negative and affirmative covenants. These covenants include (1) maintenance of a ratio of consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) less capital expenditures to consolidated cash interest expense, for any period of four consecutive fiscal quarters, of no less than 3.50 to 1.0 as well as (2) maintenance of a ratio of consolidated indebtedness to consolidated EBITDA for any period of four consecutive fiscal quarters, of no more than 3.50 to 1.0. As of December 30, 2017, the Company was compliant with all covenants.

The obligations of the Company under the $1.65B Credit Facility are collateralized by substantially all of the assets of the Company.

Principal maturities of existing debt for the periods set forth in the table below, are as follows:



	Principal
	(in thousands)
2018	$	28,545
2019	52,813
2020	81,250
2021	939,747
Total	$	1,102,355

Excluded from the table above is $18.2 million of Other Debt associated with construction in progress related to build-to-suit operating leases. The minimum rental commitments under these non-cancellable leases are included in Note 13, “Commitments and Contingencies.”

Letters of Credit

As of both December 30, 2017 and December 31, 2016, the Company had $4.9 million in outstanding letters of credit.

Capital Lease Obligations

The Company’s capital lease obligations amounted to $30.3 million and $29.9 million as of December 30, 2017 and December 31, 2016, respectively.

As of December 30, 2017, the minimum lease payments under capital leases for each of the next five years and total thereafter were as follows:



	Minimum Lease Payments
	(in thousands)
2018	$	3,618
2019	3,229
2020	2,969
2021	2,757
2022	2,362
Thereafter	28,281
Total	$	43,216