Debt and Other Obligations (Tables)

6 Months Ended

Jul. 15, 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 July 15, 2017 and December 31, 2016, respectively (amounts in thousands):

	July 15, 2017		December 31, 2016
Unsecured credit facility	$	3,400	$	24,000
2026 notes		394,714		394,406
2022 notes		397,718		397,458
Accounts receivable securitization facility		10,000		95,000
Capital lease obligations		26,633		30,427
Other notes payable		14,540		16,866
		847,005		958,157
Current maturities of long-term debt and capital lease obligations		12,140		11,490
Total long-term debt and capital lease obligations	$	834,865	$	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 twenty-eight weeks ended July 15, 2017.

	Amount (thousands)
Balance at December 31, 2016	$	24,000
Borrowings		347,900
Payments		(368,500	)
Balance at July 15, 2017	$	3,400

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of July 15, 2017:

	Amount (thousands)
Gross amount available	$	500,000
Outstanding		(3,400	)
Letters of credit		(8,698	)
Available for withdrawal	$	487,902

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 twenty-eight weeks ended July 15, 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 July 15, 2017, are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2017	$	5,196
2018		21,794
2019		10,314
2020		8,428
2021		3,276
2022 and thereafter		806,025
Total	$	855,033

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 July 15, 2017 (amounts in thousands):

			Debt issuance costs
	Face Value		and debt discount		Net carrying value
2026 notes	$	400,000	$	5,286	$	394,714
2022 notes		400,000		2,282		397,718
Other notes payable		15,000		460		14,540
Total	$	815,000	$	8,028	$	806,972

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