BANK CREDIT ARRANGEMENTS

12 Months Ended

Dec. 31, 2016

BANK CREDIT ARRANGEMENTS

BANK CREDIT ARRANGEMENTS

(8) BANK CREDIT ARRANGEMENTS

The Company maintains various lines of credit for short-term borrowings totaling $109,424 at December 31, 2016. As of December 31, 2016 and December 26, 2015, $0 and $199 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 $109,424 at December 31, 2016. 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. Other notes payable of $746 and $777 were outstanding at December 31, 2016 and December 26, 2015, respectively.