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Long-Term Debt | 12 Months Ended
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Dec. 30, 2017
Debt Disclosure [Abstract] |
Long-Term Debt | 7. Long-Term Debt In December 2017, we entered into a credit agreement which will expire in December 2022. This agreement provides for an initial revolving credit facility of $ 100.0 million and gives us the ability to request increases of up to an incremental $ 100.0 million. This agreement replaces our previous $ 30.0 million credit agreement. Borrowings under the facility are on an unsecured basis with interest rates ranging from LIBOR plus 65 basis points to LIBOR plus 125 basis points based upon the ratio of consolidated funded debt to consolidated EBITDA, as defined by the credit agreement. The interest rate at December 30, 2017 was LIBOR plus 65 basis points (2.22%). The credit agreement also contains other covenants, including those related to the ratio of certain consolidated fixed changes to consolidated EBITDA, capital expenditures, and share repurchases, each as defined by the credit agreement. The new agreement also requires us to pay an unused fee of 0.10% on the average daily unused portion of the facility. As of December 30, 2017, we were in compliance with all financial covenants contained in the credit agreement. As of December 30, 2017, there were no borrowings under the facility and we had two outstanding letters of credit for approximately $ 0.8 million in the aggregate which were issued to secure ordinary course of business transactions. Net of these letters of credit, we had approximately $ 99.2 million available under the facility at December 30, 2017.

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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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