XML 37 R11.htm IDEA: XBRL DOCUMENT v3.3.0.814
LINE OF CREDIT
9 Months Ended
Sep. 26, 2015
LINE OF CREDIT [Abstract]  
LINE OF CREDIT

NOTE 4 - LINE OF CREDIT

 

The Company has a $40 million revolving line of credit with a bank. This facility is renewable annually and terminates on June 15, 2016. Borrowings under this facility bear interest at LIBOR (0.8469% at September 26, 2015) plus 200 basis points. The Company is charged three-eighths of a percent (0.375%) per year on the unused portion. At September 26, 2015 and December 31, 2014, the Company was in compliance with the terms and covenants of the credit facility, which remains unused.