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Long-Term Debt
6 Months Ended
Jun. 30, 2018
Long-Term Debt [Abstract]  
Long-Term Debt

(5) Long-Term Debt

On September 1, 2016, Weis Markets entered into a revolving credit agreement with Wells Fargo Bank, National Association (the Credit Agreement).  The Credit Agreement provides for an unsecured revolving credit facility with an aggregate principal amount not to exceed $100.0 million with an additional discretionary amount available of $50.0 million.  As of June 30, 2018,  the Company did not have an outstanding amount borrowed from the available $100.0 million from the credit facility.  The loan will bear interest on the outstanding principal amount at the one month LIBOR rate plus the applicable margin rate of 0.65% until its maturity on September 1, 2019.  The loan was used to fund the 2016 acquisitions and the Company’s working capital requirements.  The only financial covenant in the credit facility requires the Company’s trailing twelve month EBITDA to be at least $75.0 million.  The Credit Agreement is also being utilized by the Company for $14.4 million of outstanding letters of credit as of June 30, 2018.  The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company.  The Company does not anticipate drawing on any of them. 



Interest expense related to long-term debt was $73 thousand and $260 thousand in the second quarter of 2018 and 2017, respectively.  In the first half of 2018 and 2017 interest expense related to long-term debt totaled $240 thousand and $533 thousand, respectively.