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Note 10 - Debt

3 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

10

)     

Debt

Long-term debt is comprised of the following (in thousands):

		September 30, 201 8				June 30, 201 8
Bank credit agreements		$	299,500			$	194,000
Total funded debt			299,500				194,000
Issuance cost			(62	)			(228	)
Total long-term debt		$	299,438			$	193,772

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

Fiscal Year		September 3 0 , 201 8
2019		$	-
2020 (matures Dec 2019)			299,500
2021			-
2022			-
2023			-
Thereafter			-
Total debt			299,500
Issuance cost			(62	)
Debt net of issuance cost		$	299,438

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, 2018,

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

$7.4

million and had the ability to borrow

$93.1

million under the facility. At

September 30, 2018,

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

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://fasb.org/us-gaap/role/ref/legacyRef
-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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