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Debt | 6 Months Ended
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Apr. 12, 2020
Debt Disclosure [Abstract] |
Indebtedness | INDEBTEDNESS Long-term debt as of April 12, 2020 and September 29, 2019 consisted of the following (in thousands):
| April 12, 2020 |  | September 29, 2019
Class A-2-I Notes | $ | 573,563 |  |  |  | $ | 575,000 |
Class A-2-II Notes | 274,313 |  |  |  | 275,000 |
Class A-2-III Notes | 448,875 |  |  |  | 450,000 |
Class A-1 Variable Funding Notes | 107,876 |  |  |  | — |
Finance lease obligations | 3,330 |  |  |  | 3,594 |
Total debt | 1,407,957 |  |  |  | 1,303,594 |
Less current maturities of long-term debt | (13,819) |  |  |  | (774) |
Less unamortized debt issuance costs | (25,692) |  |  |  | (28,446) |
Long-term debt | $ | 1,368,446 |  |  |  | $ | 1,274,374 |
The Company’s outstanding debt consists of Series 2019-1 3.982% Fixed Rate Senior Secured Notes (the “Class A-2-I Notes”), Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II (the “Class A-2-II Notes”), and Series 2019-1 4.970% Fixed Rate Senior Secured Notes, Class A-2-III (the “Class A-2-III Notes”) and together with the Class A-2-I Notes and the Class A-2-II Notes, (the “Class A-2 Notes”), issued by Jack in the Box Funding, LLC (the “Master Issuer”), a limited-purpose, bankruptcy-remote, wholly owned indirect subsidiary of the Company. In addition, the Master Issuer entered into a revolving financing facility of Series 2019-1 Variable Funding Senior Secured Notes, Class A-1 (the “Variable Funding Notes”), which allows for the drawing of up to $150.0 million under the Variable Funding Notes and the issuance of letters of credit. As of April 12, 2020 and September 29, 2019, $41.1 million and $45.6 million, respectively, of letters of credit were pledged against the Variable Funding Notes. As of September 29, 2019, we had no outstanding borrowings under our Variable Funding Notes. During the second quarter of 2020, to secure our liquidity position and provide financial flexibility given the uncertain market conditions, we borrowed $107.9 million under the Variable Funding Notes. The Company may use the proceeds from the borrowings for working capital and general corporate purposes. As of April 12, 2020, remaining borrowing availability under our Variable Funding Notes was $1.1 million.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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