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Debt and Other Obligations (Tables)

4 Months Ended

Apr. 18, 2020

Long Term Debt (Net of Issuance Costs and Debt Discounts Excluding Line-of-credit Arrangements)

Long-term debt (net of issuance costs and debt discounts excluding line-of-credit arrangements) (leases are separately discussed in Note 4, Leases) consisted of the following at April 18, 2020 and December 28, 2019, respectively (amounts in thousands):

		April 18, 2020				December 28, 2019
Unsecured credit facility		$	225,000			$	41,750
2026 notes			396,298				396,122
2022 notes			399,054				398,906
Accounts receivable securitization facility			49,000				26,000
Other notes payable			1,245				3,730
			1,070,597				866,508
Less current maturities of long-term debt			(1,245	)			(3,730	)
Total long-term debt		$	1,069,352			$	862,778

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of April 18, 2020 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2020		$	1,250
2021			49,000
2022			625,000
2023			—
2024			—
2025 and thereafter			400,000
Total		$	1,075,250

Reconciliation of Debt Issuance Costs and Debt Discounts to the Net Carrying Value for Each Debt Obligation (Excluding Line of Credit Arrangements)

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at April 18, 2020 (amounts in thousands):

						Debt Issuance Costs
		Face Value				and Debt Discount				Net Carrying Value
2026 notes		$	400,000			$	3,702			$	396,298
2022 notes			400,000				946				399,054
Other notes payable			1,250				5				1,245
Total		$	801,250			$	4,653			$	796,597

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at December 28, 2019 (amounts in thousands):

						Debt Issuance Costs
		Face Value				and Debt Discount				Net Carrying Value
2026 notes		$	400,000			$	3,878			$	396,122
2022 notes			400,000				1,094				398,906
Other notes payable			3,750				20				3,730
Total		$	803,750			$	4,992			$	798,758

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the facility during the sixteen weeks ended April 18, 2020:

		Amount (thousands)
Balance at December 28, 2019		$	26,000
Borrowings			102,500
Payments			(79,500	)
Balance at April 18, 2020		$	49,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available for working capital and general corporate purposes under the facility as of April 18, 2020:

		Amount (thousands)
Gross amount available		$	200,000
Outstanding			(49,000	)
Available for withdrawal		$	151,000

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the facility during the  sixteen weeks ended April 18, 2020:

		Amount (thousands)
High balance		$	79,000
Low balance		$	19,000

Unsecured Credit Facility

Schedule of Borrowings and Repayments Under Credit Facility

Amounts outstanding under the credit facility vary daily. Changes in the gross borrowings and repayments can be caused by cash flow activity from operations, capital expenditures, acquisitions, dividends, share repurchases, and tax payments, as well as derivative transactions, which are part of the company’s overall risk management strategy as discussed in Note 8, Derivative Financial Instruments, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q.  The table below presents the borrowings and repayments under the credit facility during the sixteen weeks ended April 18, 2020.

		Amount (thousands)
Balance at December 28, 2019		$	41,750
Borrowings			272,600
Payments			(89,350	)
Balance at April 18, 2020		$	225,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of April 18, 2020:

		Amount (thousands)
Gross amount available		$	500,000
Outstanding			(225,000	)
Letters of credit			(8,400	)
Available for withdrawal		$	266,600

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the credit facility during the sixteen weeks ended April 18, 2020:

		Amount (thousands)
High balance		$	235,000
Low balance		$	6,400

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