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BANK CREDIT ARRANGEMENTS | 12 Months Ended
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Dec. 25, 2021
BANK CREDIT ARRANGEMENTS |
BANK CREDIT ARRANGEMENTS | BANK CREDIT ARRANGEMENTSThe Company maintains various lines of credit for short-term borrowings totaling $137,818 available at December 25, 2021. As of December 25, 2021 and December 26, 2020, $13,439 and $35,147 was outstanding and recorded as notes payable to banks 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 was 6.31% at December 25, 2021. The unused and available borrowings under the lines of credit were $124,379 at December 25, 2021. 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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