Debt and Other Obligations (Tables)

6 Months Ended

Jul. 11, 2020

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 July 11, 2020 and December 28, 2019, respectively (amounts in thousands):

	July 11, 2020		December 28, 2019
Unsecured credit facility	$	100,000	$	41,750
2026 notes		396,430		396,122
2022 notes		399,166		398,906
Accounts receivable securitization facility		114,000		26,000
Other notes payable		—		3,730
		1,009,596		866,508
Less current maturities of long-term debt		—		(3,730	)
Total long-term debt	$	1,009,596	$	862,778

Aggregate Maturities of Debt Outstanding

Aggregate maturities of debt outstanding as of July 11, 2020 are as follows (excluding unamortized debt discount and issuance costs) (amounts in thousands):

Remainder of 2020	$	—
2021		114,000
2022		500,000
2023		—
2024		—
2025 and thereafter		400,000
Total	$	1,014,000

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 July 11, 2020 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2026 notes	$	400,000	$	3,570	$	396,430
2022 notes		400,000		834		399,166
Other notes payable		-		-		-
Total	$	800,000	$	4,404	$	795,596

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 28, 2019 (amounts in thousands):

			Debt Issuance Costs
	Face Value		and Debt Discount		Net Carrying Value
2026 notes	$	400,000	$	3,878	$	396,122
2022 notes		400,000		1,094		398,906
Other notes payable		3,750		20		3,730
Total	$	803,750	$	4,992	$	798,758

Accounts Receivable Securitization Facility

Schedule of Borrowings and Repayments Under Credit Facility

The table below presents the borrowings and repayments under the facility during the twenty-eight weeks ended July 11, 2020:

	Amount (thousands)
Balance at December 28, 2019	$	26,000
Borrowings		207,500
Payments		(119,500	)
Balance at July 11, 2020	$	114,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available for working capital and general corporate purposes under the facility as of July 11, 2020:

	Amount (thousands)
Gross amount available	$	200,000
Outstanding		(114,000	)
Available for withdrawal	$	86,000

Schedule of Highest and Lowest Outstanding Balance Under Credit Facility

The table below presents the highest and lowest outstanding balance under the facility during the twenty-eight weeks ended July 11, 2020:

	Amount (thousands)
High balance	$	154,000
Low balance	$	19,000

Unsecured Credit Facility

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, 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 twenty-eight weeks ended July 11, 2020.

	Amount (thousands)
Balance at December 28, 2019	$	41,750
Borrowings		272,600
Payments		(214,350	)
Balance at July 11, 2020	$	100,000

Schedule of Net Amount Available Under Credit Facility

The table below presents the net amount available under the credit facility as of July 11, 2020:

	Amount (thousands)
Gross amount available	$	500,000
Outstanding		(100,000	)
Letters of credit		(8,400	)
Available for withdrawal	$	391,600

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 twenty-eight weeks ended July 11, 2020:

	Amount (thousands)
High balance	$	235,000
Low balance	$	6,400