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Debt | 12 Months Ended
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Feb. 27, 2016
Debt Disclosure [Abstract] |
Debt | Debt Debt consists of $20.4 million of industrial revenue bonds, which mature in fiscal years 2021 through 2043. The fair value of the industrial revenue bonds approximates carrying value at February 27, 2016, due to the variable interest rates on these instruments. The bonds would be considered classified as Level 2 within the fair value hierarchy described in Note 4. We maintain a $125.0 million committed revolving credit facility that expires in December 2019. No borrowings were outstanding under the credit facility as of February 27, 2016 or February 28, 2015. At February 27, 2016, the Company was in compliance with all financial covenants as provided below:
Debt covenant financial ratios |  | Maximum |  | Company's ratio
Debt-to-EBITDA ratio |  | 3.00 |  |  | 0.16 |
|  | Minimum |  | Company's net worth
Net worth calculation (in millions) |  | $ | 356.7 |  |  | 406.2 |
Both ratios are computed quarterly, with EBITDA calculated on a rolling four-quarter basis. If the Company is not in compliance with either of these covenants, our credit facility may be terminated and/or any amounts then outstanding may be declared immediately due and payable. We have the ability to issue letters of credit of up to $40.0 million under this credit facility, the outstanding amounts of which decrease the available commitment. At both February 27, 2016 and February 28, 2015, $101.5 million was available under this credit facility. We also maintain a $4.0 million Canadian dollar revolving demand facility available to our Canadian operation. No borrowings were outstanding under the facility as of February 27, 2016 or February 28, 2015. Borrowings under the facility are made available at the sole discretion of the lender and are payable on demand, with interest at rates specified in the credit agreement for the demand facility. Debt maturities and other selected information are as follows:
(In thousands) | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | Thereafter |  | Total
Maturities | $— |  | $— |  | $— |  | $— |  | $5,400 |  | $15,000 |  | $ | 20,400 |
(In thousands, except percentages) | 2016 |  | 2015
Average daily borrowings during the year | $ | 21,730 |  |  | $ | 21,260 |
Maximum borrowings outstanding during the year | 22,480 |  |  | 22,600 |
Weighted average interest rate during the year | 0.29 | % |  | 0.30 | %
(In thousands) | 2016 |  | 2015 |  | 2014
Interest on debt | $ | 544 |  |  | $ | 581 |  |  | $ | 895 |
Other interest expense | 49 |  |  | 343 |  |  | 364 |
Interest expense | $ | 593 |  |  | $ | 924 |  |  | $ | 1,259 |
Interest payments were $0.5 million in fiscal 2016, $0.8 million in fiscal 2015 and $0.7 million in fiscal 2014.

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- 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 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
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