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Debt, Capital Lease Obligations and Other Financing | 9 Months Ended
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Jul. 01, 2017
Debt and Capital Lease Obligations [Abstract] |
Debt, Capital Lease Obligations And Other Financing | Debt, Capital Lease Obligations and Other Financing Debt, capital lease and other obligations as of July 1, 2017 and October 1, 2016, consisted of the following (in thousands):
| July 1, 2017 |  | October 1, 2016
Borrowing under the credit facility | $ | 88,000 |  |  | $ | 75,000 |
5.20% senior notes, due June 15, 2018 | 175,000 |  |  | 175,000 |
Capital lease, non-cash financing of leased facility and other obligations | 31,307 |  |  | 13,614 |
Unamortized deferred financing fees | (872 | ) |  | (1,105 | )
Total obligations | 293,435 |  |  | 262,509 |
Less: current portion | (267,297 | ) |  | (78,507 | )
Long-term debt and capital lease obligations, net of current portion | $ | 26,138 |  |  | $ | 184,002 |
The Company has a senior unsecured revolving credit facility (the “Credit Facility”) with a $300.0 million maximum commitment that expires on July 5, 2021. The Credit Facility may be further increased to $500.0 million, generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During the nine months ended July 1, 2017, the highest daily borrowing was $142.0 million and the average daily borrowing was $99.4 million. The Company borrowed $166.0 million and repaid $153.0 million of revolving borrowings under the Credit Facility during the nine months ended July 1, 2017. The financial covenants (as defined under the related Credit Agreement) require that the Company maintain, as of each fiscal quarter end, a maximum total leverage ratio and a minimum interest coverage ratio. As of July 1, 2017, the Company was in compliance with all financial covenants of the Credit Agreement. Borrowings under the Credit Facility bear interest, at the Company’s option, at a eurocurrency or base rate plus, in each case, an applicable interest rate margin based on the Company’s then-current leverage ratio (as defined in the Credit Agreement). As of July 1, 2017, the weighted average interest rate under the Credit Agreement was LIBOR plus 1.125% (or 2.221%). The Company is required to pay an annual commitment fee based on the daily unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.175% as of July 1, 2017. The Company also has outstanding 5.20% senior notes, due on June 15, 2018 (the “Notes”). As of July 1, 2017 and October 1, 2016, $175.0 million of Notes was outstanding, and the Company was in compliance with all financial covenants relating to the Notes, which are generally consistent with those in the Credit Agreement discussed above. During the third quarter of fiscal 2017, the Notes were moved to the current portion of long-term debt and capital lease obligations on the Condensed Consolidated Balance Sheets since their scheduled maturity was less than 12 months from July 1, 2017. During the third quarter of fiscal 2017, the Company capitalized certain leased property, plant and equipment related to the relocation of its Neenah Design Center to a new facility located near the Company's Global Headquarters. This resulted in a non-cash transaction of approximately $15.7 million and is reflected in the current portion of long-term debt and capital lease obligations, as well as in long-term debt, capital lease obligations and other financing, net of current portion, on the accompanying Condensed Consolidated Balance Sheets as of July 1, 2017.

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- Definition The entire disclosure for debt and capital lease obligations can be reported. 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. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References No definition available. + Details
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