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Note 5 Debt | 3 Months Ended
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Dec. 27, 2014
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | Debt Long-term debt consisted of the following:
| As of
| December 27, 2014 |  | September 27, 2014
| (In thousands)
Secured debt | $ | 40,000 |  |  | $ | 40,000 |
Senior notes due 2019 ("2019 Notes") | — |  |  | 100,000 |
Senior secured notes due 2019 ("Secured Notes") | 375,000 |  |  | 375,000 |
Non-interest bearing notes payable | 15,282 |  |  | 15,097 |
Fair value adjustment (1) | — |  |  | 3,757 |
Total long-term debt | $ | 430,282 |  |  | $ | 533,854 |
Less: Current Portion |  |  |
2019 Notes called for redemption in fourth quarter of 2014 | — |  |  | 100,000 |
Fair value adjustment related to remaining 2019 Notes | — |  |  | 3,757 |
Secured debt (refinanced in the first quarter of 2015) | — |  |  | 40,000 |
Current portion of non-interest bearing notes payable | 3,416 |  |  | 3,416 |
Long-term debt | $ | 426,866 |  |  | $ | 386,681 |
(1) Represents fair value hedge accounting balance related to interest rate swaps. See Note 4 for discussion. During the first quarter of 2015, the Company redeemed the remaining $100 million of its 2019 Notes at par plus a redemption premium and accrued interest. In connection with this redemption, the Company recorded a net loss on extinguishment of debt of $2.9 million, consisting of redemption premiums of $5.3 million and a write-off of unamortized debt issuance costs of $1.4 million, partially offset by a $3.8 million credit for the fair value hedge adjustment related to the extinguished 2019 Notes. In addition, the Company entered into an amendment (the “Amendment”) of the Loan Agreement (the “Loan Agreement”) between the Company and MUFG Union Bank, N.A. (formerly known as Union Bank, N.A. (the “Bank”)) dated July 19, 2012. The Amendment extends the maturity date of the Company’s secured debt from July 19, 2015 to December 19, 2017. At the Company’s request and upon approval of the Bank, such maturity date may be extended up to two times for a period of one year for each extension. Principal, together with accrued and unpaid interest, is due on the maturity date. The Company has the right to prepay loans under the Loan Agreement in whole or in part at any time without penalty. The Amendment also provides for a 0.75% reduction in the interest rate charged for the loan made under the Loan Agreement (bears interest at LIBOR plus a spread or the bank's prime rate plus a spread). As amended, the Loan Agreement requires the Company to comply with a consolidated fixed charge coverage ratio, determined in accordance with the Loan Agreement, of at least 1.25 to 1.00 in the event of a credit ratings agency downgrade of the Company or certain trigger periods relating to liquidity under the Company’s existing revolving credit facility. None of these conditions existed at December 27, 2014. Short-term debt The Company has a $300 million secured asset-backed revolving credit facility. Borrowings under this facility bear interest, at the Company's option, at a rate equal to LIBOR or a base rate equal to Bank of America, N.A.'s announced prime rate, in each case plus a spread. The facility expires on March 16, 2017. As of December 27, 2014, $60.0 million of borrowings and $22.1 million of letters of credit were outstanding under this facility. As of December 27, 2014, certain foreign subsidiaries of the Company had a total of $74.0 million of short-term borrowing facilities, under which no borrowings were outstanding. An aggregate of $25.0 million of such facilities expire during the second quarter of 2015 and most of the remainder of such facilities expire during the fourth quarter of 2015. Debt covenants The Company's debt agreements do not contain financial covenants currently applicable to the Company, but do include a number of restrictive covenants, including restrictions on incurring additional debt, making investments and other restricted payments, selling assets, paying dividends and redeeming or repurchasing capital stock and debt, subject to certain exceptions. The Company was in compliance with these covenants as of December 27, 2014.

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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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