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Long-Term Debt (Tables)

12 Months Ended

Jan. 02, 2016

Debt Disclosure [Abstract]

Summary of Debt Instruments

Long-term debt consists of the following:

(In thousands)	January 2, 2016					January 3, 2015
Senior secured revolving credit facility, due January 2020	$		394,982			$		403,201
6.625% Senior Notes due December 2016			—					50,000
Senior secured term loan, due January 2020			34,842					46,989
Capital lease obligations (Note 9)			58,599					64,420
Other, 2.61% - 9.25%, due 2016 - 2020			6,558					5,658
			494,981					570,268
Less current portion			19,003					19,758
Total long-term debt	$		475,978			$		550,510

Schedule of Interest Rate Terms

Borrowings under the three tranches of the credit facility bear interest at the Company’s option as either Eurodollar loans or Base Rate loans, subject to a grid based upon excess availability, as defined in the Credit Agreement. As of January 2, 2016, the interest rate terms are as follows:

Credit		Outstanding
Facility		as of
Tranche		January 2, 2016					Eurodollar Rate		Base Rate
Tranche A		$		360,973			LIBOR plus 1.50% to 2.00%		Greater of:	(i) the Federal Funds Rate plus 1.00% to 1.50%
										(ii) the Eurodollar Rate plus 1.50% to 2.00%
										(iii) the prime rate plus 0.50% to 1.00%
Tranche A-1		$		34,008			LIBOR plus 2.75% to 3.25%		Greater of:	(i) the Federal Funds Rate plus 2.25% to 2.75%
										(ii) the Eurodollar Rate plus 2.75% to 3.25%
										(iii) the prime rate plus 1.75% to 2.25%
Tranche A-2		$		34,843			LIBOR plus 5.50%		Greater of:	(i) the Federal Funds Rate plus 5.00%
										(ii) the Eurodollar Rate plus 5.50%
										(iii) the prime rate plus 4.50%

Schedule of Aggregate Annual Maturities and Scheduled Payments of Long-term Debt

At January 2, 2016, aggregate annual maturities and scheduled payments of long-term debt are as follows:

(In thousands)
Fiscal Year
2016				$		19,003
2017						18,906
2018						20,231
2019						12,379
2020						399,778
Thereafter						24,684
Total				$		494,981

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Schedule of interest rate terms.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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-Name Accounting Standards Codification
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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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