Debt and Other Obligations (Tables)

4 Months Ended

Apr. 22, 2017

Debt Disclosure [Abstract]

Long-Term Debt and Capital Leases (Net of Issuance Costs and Debt Discounts Excluding Line-of-credit Arrangements)

Long-term debt and capital leases (net of issuance costs and debt discounts excluding line-of-credit arrangements) consisted of the following at April 22, 2017 and December 31, 2016, respectively (amounts in thousands):

	April 22, 2017		December 31, 2016
Unsecured credit facility	$	16,300	$	24,000
2026 notes		394,583		394,406
2022 notes		397,606		397,458
Accounts receivable securitization facility		40,000		95,000
Capital lease obligations		28,087		30,427
Other notes payable		15,722		16,866
		892,298		958,157
Current maturities of long-term debt and capital lease    obligations		10,511		11,490
Total long-term debt and capital lease obligations	$	881,787	$	946,667

Schedule of debt discount, underwriting fees and the legal and other fees

The table below presents the debt discount, underwriting fees and the legal and other fees for issuing the 2026 notes (amounts in thousands):

	Amount at Issuance
Debt discount	$	2,108
Underwriting, legal, and other fees		3,634
Total fees	$	5,742

Schedule of Borrowings and Repayments Under Credit Facility

Amounts outstanding under the credit facility vary daily. Changes in the gross borrowings and repayments can be caused by cash flow activity from operations, capital expenditures, acquisitions, dividends, share repurchases, and tax payments, as well as derivative transactions, which are part of the company’s overall risk management strategy as discussed in Note 8, Derivative Financial Instruments.  The table below presents the borrowings and repayments under the credit facility during the sixteen weeks ended April 22, 2017.

	Amount (thousands)
Balance at December 31, 2016	$	24,000
Borrowings		230,100
Payments		(237,800	)
Balance at April 22, 2017	$	16,300

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of April 22, 2017:

	Amount (thousands)
Gross amount available	$	500,000
Outstanding		(16,300	)
Letters of credit		(8,835	)
Available for withdrawal	$	474,865

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the credit facility during the sixteen weeks ended April 22, 2017:

	Amount (thousands)
High balance	$	47,500
Low balance	$	—

Aggregate Maturities of Debt Outstanding (Including Capital Leases)

Aggregate maturities of debt outstanding, including capital leases and the associated interest, as of April 22, 2017, are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2017	$	7,900
2018		51,794
2019		10,314
2020		21,328
2021		3,276
2022 and thereafter		806,025
Total	$	900,637

Reconciliation of Debt Issuance Costs and Debt Discounts to the Net Carrying Value for Each Debt Obligation (Excluding Line of Credit Arrangements)

Debt discount and issuance costs are being amortized straight-line (which approximates the effective method) over the term of the underlying debt outstanding.  The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at April 22, 2017 (amounts in thousands):

			Debt issuance costs
	Face Value		and debt discount		Net carrying value
2026 notes	$	400,000	$	5,417	$	394,583
2022 notes		400,000		2,394		397,606
Other notes payable		16,250		528		15,722
Total	$	816,250	$	8,339	$	807,911

The table below reconciles the debt issuance costs and debt discounts to the net carrying value of each of our debt obligations (excluding line-of-credit arrangements) at December 31, 2016 (amounts in thousands):

			Debt issuance costs
	Face Value		and debt discount		Net carrying value
2026 notes	$	400,000	$	5,594	$	394,406
2022 notes		400,000		2,542		397,458
Other notes payable		17,500		634		16,866
Total	$	817,500	$	8,770	$	808,730