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Indebtedness | 12 Months Ended
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Sep. 28, 2013
Debt Disclosure [Abstract] |
Indebtedness | Indebtedness Short-term borrowings consist of:
|  | September 28, 2013 |  | September 29, 2012
Securitization program |  | $ | 100,000 |  |  | $ | 81,800 |
Lines of credit |  | 5,088 |  |  | 8,974 |
Short-term borrowings |  | $ | 105,088 |  |  | $ | 90,774 |
The Securitization Program matures on March 3, 2014 and effectively increases our borrowing capacity by up to $100,000. Under the Securitization Program, we sell certain trade receivables and related rights to an affiliate, which in turn sells an undivided variable percentage ownership interest in the trade receivables to a financial institution, while maintaining a subordinated interest in a portion of the pool of trade receivables. The Securitization Program can be extended by agreement of the parties for successive 364-day terms. Interest for the Securitization Program is 0.8% at September 28, 2013 and is based on prevailing market rates for short-term commercial paper plus an applicable margin. A commitment fee is also charged based on a percentage of the unused amounts available and is not material. The agreement governing the Securitization Program contains restrictions and covenants which include limitations on the making of certain restricted payments, creation of certain liens, and certain corporate acts such as mergers, consolidations and sale of substantially all assets. We are in compliance with all covenants. In addition to the Securitization Program we maintain short-term credit facilities with banks throughout the world that are principally demand lines subject to revision by the banks. Interest on outstanding lines of credit is 1.9% at September 28, 2013. Long-term debt consists of:
|  | September 28, 2013 |  | September 29, 2012
U.S. revolving credit facility |  | $ | 403,865 |  |  | $ | 292,026 |
Other long-term debt |  | 8,577 |  |  | 3,216 |
Obligations under capital leases |  | 65 |  |  | 27 |
Senior debt |  | 412,507 |  |  | 295,269 |
7¼% senior subordinated notes |  | 191,562 |  |  | 191,575 |
6¼% senior subordinated notes |  | — |  |  | 187,004 |
Total long-term debt |  | 604,069 |  |  | 673,848 |
Less current installments |  | (3,382 | ) |  | (3,186 | )
Long-term debt |  | $ | 600,687 |  |  | $ | 670,662 |
On March 28, 2013, we amended our U.S. revolving credit facility. The amendments primarily reflect a modification of the matrix used to determine the applicable interest margin, the commitment fee rate and extended the maturity of the credit facility to March 28, 2018. The credit facility consists of a $900,000 revolver and is secured by substantially all of our U.S. assets. The loan agreement contains various covenants which, among others, specify interest coverage and maximum leverage and capital expenditures. We are in compliance with all covenants. Interest on substantially all of the outstanding credit facility borrowings is 1.6% and is based on LIBOR plus the applicable margin, which was 138 basis points at September 28, 2013. Other long-term debt at September 28, 2013 consist of debt instruments being repaid through 2015 that carry interest rates ranging from 3.3% to 6.2%. Our 7¼% senior subordinated notes are due June 15, 2018, with interest paid semiannually on June 15 and December 15 of each year. The 7¼% senior subordinated notes are unsecured, general obligations, subordinated in right of payment to all existing and future senior indebtedness and contain normal incurrence-based covenants. On January 15, 2013, we repurchased at par our 6¼% senior subordinated notes due January 15, 2015, pursuant to an early redemption right. We redeemed the aggregate principal amount of $200,000 using proceeds drawn from our U.S. revolving credit facility. Maturities of long-term debt are $3,382 in 2014, $5,237 in 2015, $13 in 2016, $10 in 2017 and $595,427 in 2018. At September 28, 2013, we had pledged assets with a net book value of $1,603,208 as security for long-term debt. Our only financial instrument for which the carrying value at times differs from its fair value is long-term debt. At September 28, 2013, the fair value of long-term debt was $611,266 compared to its carrying value of $604,069. The fair value of long-term debt was estimated based on quoted market prices. At September 28, 2013, we had $496,209 of unused short and long-term borrowing capacity, including $482,180 from the U.S. revolving credit facility. Commitment fees are charged on some of these arrangements and on the U.S. revolving credit facility based on a percentage of the unused amounts available and are not material.

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- 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 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: 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 3: 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 + Details
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