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Note 9 - Debt

3 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

9

)     

Debt

Long-term debt is comprised of the following

(in thousands):

		September 3 0 , 201 7				June 30, 201 7
Bank credit agreements		$	205,500			$	192,500
Other			832				6
Total funded debt			206,332				192,506
Issuance Cost			(436	)			(530	)
Total long-term debt		$	205,896			$	191,976

T

he Company’s debt payments are due as follows (in thousands):

Fiscal Year		September 3 0 , 201 7
2018		$	199
2019			109
2020			205,612
202 1			114
202 2			117
Thereafter			181
Total Debt			206,332
Issuance cost			(436	)
Debt net of issuance cost		$	205,896

Bank Credit Agreements

During fiscal year

2015,

the Company entered into an Amended and Restated Credit Agreement (“Credit Facility”, or “facility”). This

five

-year Credit Facility expires in

December 2019

and has a borrowing limit of

$400

million, which can be increased by an amount of up to

$100

million, in accordance with specified conditions contained in the agreement. The facility also includes a

$10

million sublimit for swing line loans and a

$30

million sublimit for letters of credit.

At

September 30, 2017,

the Company had standby letters of credit outstanding, primarily for insurance purposes, of

$8.9

million and had the ability to borrow

$176.9

million under the facility. At

September 30, 2017,

the carrying value of the current borrowings under the facility approximates fair value.

Other

The Company incurred additional debt related primarily to a Piazza Rosa construction project that was completed in

October 2017.

X

- 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

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X

- References

No definition available.

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