Debt and Other Obligations (Tables)

9 Months Ended

Oct. 05, 2019

Debt Disclosure [Abstract]

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

Long-term debt (net of issuance costs and debt discounts excluding line-of-credit arrangements) (leases are separately discussed in Note 4, Leases) consisted of the following at October 5, 2019 and December 29, 2018, respectively (amounts in thousands):

	October 5, 2019			December 29, 2018
Unsecured credit facility	$	10,000		$	—
2026 notes		395,990			395,550
2022 notes		398,794			398,423
Accounts receivable securitization facility		69,500			177,000
Other notes payable		3,714			8,621
		877,998			979,594
Less current maturities of long-term debt		(3,714	)		(5,000	)
Total long-term debt	$	874,284		$	974,594

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 9, Derivative Financial Instruments, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q.  The table below presents the borrowings and repayments under the credit facility during the forty weeks ended October 5, 2019.

	Amount (thousands)
Balance at December 29, 2018	$	—
Borrowings		208,400
Payments		(198,400	)
Balance at October 5, 2019	$	10,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of October 5, 2019:

	Amount (thousands)
Gross amount available	$	500,000
Outstanding		(10,000	)
Letters of credit		(8,400	)
Available for withdrawal	$	481,600

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 forty weeks ended October 5, 2019:

	Amount (thousands)
High balance	$	122,200
Low balance	$	—

Aggregate Maturities of Debt Outstanding (Including Capital Leases)

Aggregate maturities of debt outstanding as of October 5, 2019 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2019	$	—
2020		3,750
2021		69,500
2022		410,000
2023		—
2024 and thereafter		400,000
Total	$	883,250

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

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 October 5, 2019 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2026 notes	$	400,000	$	4,010	$	395,990
2022 notes		400,000		1,206		398,794
Other notes payable		3,750		36		3,714
Total	$	803,750	$	5,252	$	798,498

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 29, 2018 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2026 notes	$	400,000	$	4,450	$	395,550
2022 notes		400,000		1,577		398,423
Other notes payable		8,750		129		8,621
Total	$	808,750	$	6,156	$	802,594