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Indebtedness | 12 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Indebtedness | Indebtedness Short-term borrowings consist of:
|  | September 30, 2017 |  | October 1, 2016
Lines of credit |  | $ | 89 |  |  | $ | 99 |
Other short-term debt |  | — |  |  | 1,280 |
Short-term borrowings |  | $ | 89 |  |  | $ | 1,379 |
We maintain short-term line of 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 0.92% at September 30, 2017. Long-term debt consists of:
|  | September 30, 2017 |  | October 1, 2016
U.S. revolving credit facility |  | $ | 540,110 |  |  | $ | 590,000 |
Senior notes |  | 300,000 |  |  | 300,000 |
Securitization program |  | 120,000 |  |  | 120,000 |
Obligations under capital leases |  | 306 |  |  | 471 |
Senior debt |  | 960,416 |  |  | 1,010,471 |
Less deferred debt issuance cost |  | (3,468 | ) |  | (5,457 | )
Less current installments |  | (295 | ) |  | (167 | )
Long-term debt |  | $ | 956,653 |  |  | $ | 1,004,847 |
Our U.S. revolving credit facility matures on June 28, 2021. Our U.S. revolving credit facility has a capacity of $1,100,000 and provides an expansion option, which permits us to request an increase of up to $200,000 to the credit facility upon satisfaction of certain conditions. The credit facility 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. The weighted-average interest rate on primarily all of the outstanding credit facility borrowings is 2.62% and is principally based on LIBOR plus the applicable margin, which was 1.38% at September 30, 2017. At September 30, 2017, we had $300,000 aggregate principal amount of 5.25% senior notes due December 1, 2022 with interest paid semiannually on June 1 and December 1 of each year. The senior notes are unsecured obligations, guaranteed on a senior unsecured basis by certain subsidiaries and contain normal incurrence-based covenants and limitations such as the ability to incur additional indebtedness, pay dividends, make other restricted payments and investments, create liens and certain corporate acts such as mergers and consolidations. The effective interest rate for these notes after considering the amortization of deferred debt issuance costs is 5.73%. The Securitization Program was extended on October 23, 2017 and now matures on October 23, 2019. The Securitization Program will now effectively increase our borrowing capacity by up to $130,000. 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. Interest for the Securitization Program is 2.11% at September 30, 2017 and is based on 30-day LIBOR 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. The Securitization Program has a minimum borrowing requirement equal to the lesser of either 80% of our borrowing capacity or 100% of our borrowing base, which is a subset of the trade receivables sold under this agreement. As of September 30, 2017, our minimum borrowing requirement was $96,000. Maturities of long-term debt are $295 in 2018, $11 in 2019, $120,000 in 2020, $540,110 in 2021, $0 in 2022 and $300,000 thereafter. At September 30, 2017, we had pledged assets with a net book value of $1,569,527 as security for long-term debt. At September 30, 2017, we had $547,746 of unused short and long-term borrowing capacity, including $535,182 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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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