BANK CREDIT ARRANGEMENTS

12 Months Ended

Dec. 30, 2017

BANK CREDIT ARRANGEMENTS

BANK CREDIT ARRANGEMENTS

(8) BANK CREDIT ARRANGEMENTS

The Company maintains various lines of credit for short-term borrowings totaling $113,437 at December 30, 2017. As of December 30, 2017 and December 31, 2016, $161 and $0 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 $113,276 at December 30, 2017. 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 5.00% at December 30, 2017. Other notes payable of $161 and $746 were outstanding at December 30, 2017 and December 31, 2016, respectively.