BANK CREDIT ARRANGEMENTS

12 Months Ended

Dec. 26, 2015

BANK CREDIT ARRANGEMENTS

BANK CREDIT ARRANGEMENTS

(8) BANK CREDIT ARRANGEMENTS

The Company maintains various lines of credit for short-term borrowings totaling $103,484 at December 26, 2015. As of December 26, 2015 and December 27, 2014, $199 and $13,058 was outstanding, respectively. The interest rates charged on these lines of credit vary in relation to the banks’ costs of funds. The unused and available borrowings under the lines of credit were $103,285 at December 26, 2015. The lines of credit can be modified at any time at the option of the banks. The Company pays no fees in connection with these lines of credit. In addition to the lines of credit, the Company also maintains other short-term bank loans. The weighted average interest rate on short-term borrowings was 5.23% at December 26, 2015, and 6.56% at December 27, 2014. Other notes payable of $777 and $894 were outstanding at December 26, 2015 and December 27, 2014, respectively.