Debt

The Company's carrying value and fair value of outstanding debt consists of the following as of the end of the fiscal years (in thousands):



	2018			2017
Revolving Credit Facility	$	—		$	—
Term loan	56,085			60,608
Capital leases	3,941			4,570
Other debt	18			108
Total debt	60,044			65,286
Less: current portion	(5,263		)	(5,202		)
Total long-term debt	$	54,781		$	60,084

Revolving Credit Facility – On August 9, 2017, the Company entered into a five-year senior secured revolving credit facility (the "Credit Facility") that amended and restated the Company's then-existing credit facility. The Credit Facility provides for a $1.25 billion revolving credit facility, including up to $150 million in the form of letters of credit, and allows the Company, subject to the satisfaction of certain conditions, to request an increase of up to $350 million in borrowing availability subject to existing or new lenders agreeing to provide such additional revolving commitments.

On August 3, 2018, the Company amended the Credit Facility to provide that all terms of an accounting or financial nature and all computations of financial amounts and ratios referenced in the Credit Facility will be made without giving effect to any lease obligation recorded pursuant to FASB ASU 2016-02, "Leases (Topic 842)", to the extent such obligation would not have been recorded as a capital lease obligation prior to adoption of ASU 2016-02.

Subject to specified conditions, the Credit Facility matures on August 9, 2022. It is secured by a first priority security interest in certain property and assets, including receivables, inventory, deposit accounts, securities accounts and other personal property of the Company and is guaranteed by the Company's domestic subsidiaries.

The annual interest rates applicable to loans under the Credit Facility are, at the Company's option, equal to a base rate or an adjusted LIBOR rate plus, in each case, an applicable margin percentage. The applicable margin percentage for base rate loans is 0.125% to 0.375% and for adjusted LIBOR rate loans is 1.125% to 1.375%, depending on the borrowing availability of the Company.

The Credit Facility contains a covenant that requires the Company to maintain a minimum adjusted availability of 7.5% of its borrowing base. The Credit Facility also contains certain covenants that could within specific predefined circumstances limit the Company's ability to, among other things: incur or guarantee additional indebtedness; pay distributions on, redeem or repurchase capital stock; redeem or repurchase subordinated debt; make certain investments; sell assets; or consolidate, merge or transfer all or substantially all of the Company's assets. Other than in certain limited conditions, the Company is permitted under the Credit Facility to continue to pay dividends and repurchase shares pursuant to its stock repurchase program. As of February 2, 2019, the Company was in compliance with the terms of the Credit Facility.

Credit Facility information as of the fiscal years ended (in thousands):



	2018		2017
Outstanding borrowings under Credit Facility	$	—	$	—
Remaining borrowing capacity under Credit Facility	$	1,233,869	$	1,233,869
Outstanding letters of credit under Credit Facility	$	16,131	$	16,131

Term Loan – On August 18, 2017, the Company financed the purchase of a corporate aircraft through a loan with Bank of America Leasing & Capital, LLC ("BOA") with a fixed interest rate of 3.41% payable in increments of $4.5 million annually through December 2024 and a balloon payment of $29.3 million (the "BOA Loan"). The BOA Loan may be prepaid in full provided that the prepayment includes all accrued interest and a prepayment fee equal to 1% of the unpaid balance during the first year of the BOA Loan or a prepayment fee equal to 0.5% of the unpaid balance during the second year of the BOA Loan. No prepayment fee is required after the completion of the second year of the BOA Loan.

Capital Lease Obligations – The gross and net carrying values of assets under capital leases were $6.9 million and $0.2 million, respectively, as of February 2, 2019 and $6.9 million and $0.3 million, respectively, as of February 3, 2018.

Scheduled lease payments under capital lease obligations as of February 2, 2019 are as follows (in thousands):



Fiscal Year
2019	$	1,103
2020	1,103
2021	943
2022	863
2023	863
Thereafter	216
Subtotal	5,091
Less: amounts representing interest	(1,150		)
Present value of net scheduled lease payments	3,941
Less: amounts due in one year	(722		)
Total long-term capital leases	$	3,219