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Long-Term Debt | 9 Months Ended
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Oct. 27, 2019
Debt Instruments [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt and the current period interest rates were as follows:
| Balance as of
(in thousands) | October 27, 2019 |  | January 27, 2019
Term loans | $ | 101,250 |  |  | $ | 115,312 |
Revolving loans | 97,000 |  |  | 97,000 |
Total debt | 198,250 |  |  | 212,312 |
Current portion, net | (18,306 | ) |  | (18,269 | )
Total long-term debt | 179,944 |  |  | 194,043 |
Debt issuance costs | (833 | ) |  | (1,198 | )
Total long-term debt, net of debt issuance costs | $ | 179,111 |  |  | $ | 192,845 |
Weighted-average interest rate | 3.46 | % |  | 4.14 | %
On November 15, 2016, the Company, with certain of its domestic subsidiaries as guarantors, entered into an amended and restated credit agreement with the lenders party thereto and HSBC Bank USA, National Association, as administrative agent (the "Administrative Agent"), swing line lender and letter of credit issuer, consisting of senior secured term loans in an aggregate principal amount of $150.0 million (the "Term Loans") and senior secured revolving commitments in an aggregate principal amount of $250.0 million (the “Revolving Loans” and together with the Term Loans, the "Credit Facility"). The Credit Facility was scheduled to mature on November 12, 2021, but was amended on November 7, 2019, to provide a more flexible borrowing structure by expanding the borrowing capacity of the Revolving Loans to $600.0 million, eliminating the Term Loans and extending the maturity to November 7, 2024 (see Note 16). As of October 27, 2019, the Company was in compliance with all financial covenants required under the Credit Facility. The outstanding principal balance of the Term Loans was subject to repayment in quarterly installments. No amortization was required with respect to the Revolving Loans. Scheduled maturities of the Term Loans were as follows as of October 27, 2019:
(in thousands) |
Fiscal Year Ending: |
2020 (remaining three months) | $ | 4,687 |
2021 | 19,688 |
2022 | 76,875 |
Total Term Loans | $ | 101,250 |
There were no scheduled principal payments for the Revolving Loans, which had outstanding borrowings of $97.0 million at October 27, 2019, and were due on or before November 12, 2021. As of October 27, 2019, the Company had $153.0 million of unused borrowing capacity under the Revolving Loans, prior to the amendment on November 7, 2019 (see Note 16). Interest expense was comprised of the following components for the periods presented:
| Three Months Ended |  | Nine Months Ended
(in thousands) | October 27, 2019 |  | October 28, 2018 |  | October 27, 2019 |  | October 28, 2018
Contractual interest | $ | 2,064 |  |  | $ | 2,224 |  |  | $ | 6,881 |  |  | $ | 6,346 |
Amortization of debt discount | 84 |  |  | 92 |  |  | 258 |  |  | 282 |
Amortization of debt issuance costs | 35 |  |  | 39 |  |  | 108 |  |  | 117 |
Total interest expense | $ | 2,183 |  |  | $ | 2,355 |  |  | $ | 7,247 |  |  | $ | 6,745 |
As of October 27, 2019, there were no amounts outstanding under the letters of credit, swing line loans and alternative currency sub-facilities.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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- References No definition available. + Details
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