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Commitments and Contingencies
3 Months Ended
Mar. 29, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Committed and uncommited banking facilities
At March 29, 2020, and December 31, 2019, the Company had committed banking facilities of $150.0 million. The facilities were for providing loans, with a with a separate facility for letters of credit which at March 29, 2020, was £1.0 million ($1.2 million) and December 31, 2019, was £1.0 million ($1.3 million). Of the committed facilities, $34.7 million was drawn for loans and no letters of credit were utilized at March 29, 2020, $17.5 million, and nil at December 31, 2019. The Company also has two separate bonding facilities for bank guarantees, one denominated in GBP sterling of £4.5 million (2020: $5.5 million, 2019: $5.9 million), of which £1.6 million (2020: $1.9 million, 2019: $2.3 million) was utilized at March 29, 2020, and December 31, 2019, respectively and one denominated in USD of $0.4 million which was fully utilized at March 29, 2020 and December 31, 2019 respectively. The Company also has a $4.0 million separate overdraft facility of which none was drawn at March 29, 2020, nil and nil at December 31, 2019.
Contingencies
During February 2014, a cylinder was sold to a long-term customer and ruptured at one of their gas facilities. As a result of this rupture, three people were noted to have minor injuries such as loss of hearing. There was no major damage to assets of the customer. A claim was launched by the three people who were injured in the incident. We have reviewed our quality control checks from around the time which the cylinder was produced and no instances of failures have been noted. It has also been noted by the investigator that the customer has poor quality and safety checks. As a result, we do not believe that we are liable for the incident, and therefore, do not currently expect this case to have a material impact on the Company's financial position or results of operations.