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BANK CREDIT ARRANGEMENTS | 12 Months Ended
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Dec. 26, 2020
BANK CREDIT ARRANGEMENTS |
BANK CREDIT ARRANGEMENTS | BANK CREDIT ARRANGEMENTSThe Company maintains various lines of credit for short-term borrowings totaling $144,690 at December 26, 2020. As of December 26, 2020 and December 28, 2019, $35,147 and $21,774 was outstanding and recorded as notes payable in the Consolidated Balance Sheets, respectively. The interest rates charged on these lines of credit vary in relation to the banks’ costs of funds. The weighted average interest rate on short-term borrowings w as 4.65% at December 26, 2020. The unused and available borrowings under the lines of credit were $109,673 at December 26, 2020. The lines of credit can be modified at any time at the option of the banks. The Company pays no fees in connection with unused lines of credit.

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- Definition Entire disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of draw downs on the line. + References No definition available. + Details
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