|4 Months Ended|
Apr. 17, 2016
|Debt Disclosure [Abstract]|
The Company maintains a credit facility (the “Credit Facility”) with a group of lenders which provides for a $325 million revolving line of credit with a sublimit for the issuance of up to $25 million in letters of credit and swingline loans up to $15 million. The Credit Facility also provides a Canadian Dollar borrowing sublimit equivalent to $20 million. On March 11, 2016, the Company entered into an amendment to the Credit Facility to permit sale leaseback transactions under the terms of the Credit Facility up to an aggregate amount of $30 million.
The Credit Facility matures on July 2, 2019. As of April 17, 2016, the Company had outstanding borrowings under the Credit Facility of $253.5 million, in addition to amounts issued under letters of credit of $8.3 million, which reduced the amount available under the credit facility but were not recorded as debt.
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef