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Debt
12 Months Ended
Apr. 29, 2017
Debt  
Debt

Note 9: Debt

                                                                                                                                                                                    

(Amounts in thousands)

 

4/29/2017

 

4/30/2016

 

Capital leases

 

$

515

 

$

803

 

Less: current portion

 

 

(219

)

 

(290

)

​  

​  

​  

​  

Long-term debt

 

$

296

 

$

513

 

​  

​  

​  

​  

​  

​  

​  

​  

We maintain a revolving credit facility secured primarily by all of our accounts receivable, inventory, and cash deposit and securities accounts. We amended this agreement on December 30, 2014, extending its maturity date to December 30, 2019. Availability under the agreement fluctuates according to a borrowing base calculated on eligible accounts receivable and inventory. The credit agreement includes affirmative and negative covenants that apply under certain circumstances, including a fixed charge coverage ratio requirement that applies when excess availability under the line is less than certain thresholds. At April 29, 2017, and at April 30, 2016, we were not subject to the fixed charge coverage ratio requirement and had no borrowings outstanding under the agreement. At April 29, 2017, we had excess availability of $141.9 million of the $150.0 million credit commitment.

Capital leases consist primarily of long-term commitments for the purchase of information technology equipment and have maturities ranging from fiscal 2018 to fiscal 2021. Interest rates range from 2.7% to 7.6%.

Maturities of long-term capital leases, subsequent to April 29, 2017, are $0.2 million in fiscal 2019, $0.1 million in fiscal 2020, and less than $0.1 million in fiscal 2021.

Cash paid for interest during fiscal years 2017, 2016 and 2015 was $0.5 million in each fiscal year.