LONG-TERM DEBT AND CREDIT ARRANGEMENTS

Long-term debt consists of the following:



	2014			2013
Revolving credit facility - Tranche A	$	82,897		$	85,274
Notes payable - building	8,295			—
Obligation to Development Authority of Gordon County	3,413			4,447
Note payable - Robertex acquisition	3,062			3,789
Equipment notes payable	13,362			7,987
Notes payable	1,261			2,210
Capital lease obligations	14,998			4,281
Total long-term debt	127,288			107,988
Less: current portion of long-term debt	(9,078		)	(6,229		)
Long-term debt	$	118,210		$	101,759

Amended Revolving Credit Facility

On March 14, 2014, the Company amended its senior credit facility ("amended senior credit facility"), effective as of March 19, 2014 to permit the acquisition of Atlas by means of an over advance ("Tranche B Advance") of $5,438 which increased to $5,764. The Tranche B Advance matured on June 30, 2014 and amounts outstanding were repaid. There is no availability remaining under Tranche B. The Tranche B Advance had an interest rate of 3.50% plus LIBOR, subject also to various availability percentages, limitations, covenants and conditions. In addition, the revolving portion of the facility ("Tranche A Advance") provides for a maximum of $150,000 of revolving credit, subject to borrowing base availability. The borrowing base is currently equal to specified percentages of the Company's eligible accounts receivable, inventories, fixed assets and real property less reserves established, from time to time, by the administrative agent under the facility. In addition, the term of the amended senior credit facility was extended from August 1, 2018 to March 14, 2019. The amended senior credit facility is secured by a first priority lien on substantially all of the Company's assets.

At the Company's election, Tranche A Advances of the amended senior credit facility bear interest at annual rates equal to either (a) LIBOR for 1, 2 or 3 month periods, as selected by the Company, plus an applicable margin of either 1.50%, 1.75% or 2.00%, or (b) the higher of the prime rate, the Federal Funds rate plus 0.5%, or a daily LIBOR rate plus 1.00%, plus an applicable margin of either 0.50%, 0.75% or 1.00%. The applicable margin is determined based on availability under the amended senior credit facility with margins increasing as availability decreases. The Company pays an unused line fee on the average amount by which the aggregate commitments exceed utilization of the senior credit facility equal to 0.375% per annum.

The amended senior credit facility includes certain affirmative and negative covenants that impose restrictions on the Company's financial and business operations including the restriction on payment of dividends. The amended senior credit facility required the Company to maintain a fixed charge coverage ratio of 1.1 to 1.0 during any period that borrowing availability was less than $14,440 through May 31, 2014 and increased to $16,500 after May 31, 2014. The amendment also provided for a waiver of the measurement and application of the fixed charge coverage ratio that would otherwise have been required by a reduction in excess availability from March 14, 2014 through and including April 13, 2014.

Average Interest Rates and Availability

The weighted-average interest rate on borrowings outstanding under the amended senior credit facility was 2.29% at December 27, 2014 and 2.66% at December 28, 2013. As of December 27, 2014, the unused borrowing availability under the amended senior credit facility was $40,214.

Notes Payable - Building

On November 7, 2014, the Company entered into a ten-year $8,330 note payable to purchase a previously leased distribution center in Adairsville, Georgia. The note payable is scheduled to mature on November 7, 2024 and is secured by the distribution center. The note payable bears interest at a variable rate equal to one month LIBOR plus 2.0% and is payable in equal monthly installments of principal of $35, plus interest calculated on the declining balance of the note, with a final payment of $4,165 due on maturity. In addition, the Company entered into an interest rate swap with an amortizing notional amount effective November 7, 2014 which effectively fixes the interest rate at 4.50%.

Obligation to Development Authority of Gordon County

On November 2, 2012, the Company signed a 6.00% seller-financed note of $5,500 with Lineage PCR, Inc. (“Lineage”) related to the acquisition of a continuous carpet dyeing facility in Calhoun, Georgia. Effective December 28, 2012, through a series of agreements between the Company, the Development Authority of Gordon County, Georgia (the “Authority”) and Lineage, obligations with identical payment terms as the original note to Lineage became payment obligations to the Authority. These transactions were consummated in order to provide a tax abatement to the Company related to the real estate and equipment at this facility. The tax abatement plan provides for abatement for certain components of the real and personal property taxes for up to ten years. At any time, the Company has the option to pay off the obligation, plus a nominal amount. The debt to the Authority bears interest at 6.00% and is payable in equal monthly installments of principal and interest of $106 over 57 months.

Note Payable - Robertex Acquisition

On July 1, 2013, the Company signed a 4.50% seller-financed note of $4,000, which was recorded at a fair value of $3,749, with Robert P. Rothman related to the acquisition of Robertex Associates, LLC ("Robertex") in Calhoun, Georgia. The note is payable in five annual installments of principal of $800 plus interest. The note matures June 30, 2018.

Equipment Notes Payable

The terms of the Company's equipment financing notes are as follows:



Instrument	Interest Rate		Term (Months)	Principal and Interest Payments		Frequency	Maturity Date
Note Payable - Equipment	6.42	%	36	$	16	Monthly	April 1, 2016
Note Payable - Equipment	2.00	%	60	38		Monthly	August 1, 2016
Note Payable - Equipment	5.94	%	75	41		Monthly	February 1, 2019
Note Payable - Equipment	1.00	%	84	18		Monthly	June 14, 2020
Note Payable - Equipment	6.84	%	60	3		Monthly	July 1, 2018
Note Payable - Equipment	6.86	%	60	49		Monthly	October 1, 2018
Note Payable - Equipment	3.65	%	84	8		Monthly	December 24, 2021
Note Payable - Equipment	1.50	%	36	49		Quarterly	August 17, 2016
Note Payable - Equipment	5.37	%	60	53		Monthly	September 26, 2019
Note Payable - Equipment	3.76	%	84	1		Monthly	October 7, 2021
Note Payable - Equipment	3.54	%	84	4		Monthly	October 23, 2021
Note Payable - Equipment	4.74	%	60	28		Monthly	October 23, 2019
Note Payable - Equipment	4.66	%	84	9		Monthly	October 23, 2021
Note Payable - Equipment	1.60	%	84	17		Monthly	October 16, 2021

In connection with certain of the notes, the Company is required to maintain funds in a separate escrow account. At December 27, 2014 and December 28, 2013, the balances held were $574 and $1,401, respectively, and are included in other current assets on the Company’s Consolidated Balance Sheets. The Company's equipment financing notes are secured by the specific equipment financed and do not contain any financial covenants.

Capital Lease Obligations

The terms of the Company's capitalized lease obligations are as follows:



Instrument	Interest Rate		Term (Months)	Principal and Interest Payments		Frequency	Maturity Date
Capital Lease - Equipment	7.04	%	84	$	8	Monthly	December 1, 2015
Capital Lease - Equipment	2.90	%	60	11		Monthly	August 1, 2017
Capital Lease - Equipment	4.76	%	58	33		Monthly	October 1, 2018
Capital Lease - Equipment	5.74	%	56	2		Monthly	October 1, 2017
Capital Lease - Equipment	4.88	%	48	16		Quarterly	April 1, 2017
Capital Lease - Equipment	5.65	%	48	13		Quarterly	April 1, 2018
Capital Lease - Equipment	5.42	%	36	2		Quarterly	April 1, 2017
Capital Lease - Equipment	5.10	%	60	3		Monthly	November 1, 2018
Capital Lease - Equipment	4.69	%	84	21		Monthly	March 25, 2021
Capital Lease - Equipment	4.59	%	60	6		Monthly	February 1, 2018
Capital Lease - Equipment	4.70	%	60	3		Monthly	April 1, 2018
Capital Lease - Equipment	4.78	%	60	1		Monthly	June 1, 2018
Capital Lease - Equipment	5.24	%	72	28		Monthly	June 1, 2020
Capital Lease - Equipment	5.82	%	51	43		Monthly	September 1, 2018
Capital Lease - Equipment	5.22	%	84	11		Monthly	August 1, 2021
Capital Lease - Equipment	4.69	%	84	5		Monthly	July 7, 2021
Capital Lease - Equipment	5.25	%	84	22		Monthly	October 1, 2021
Capital Lease - Equipment	5.28	%	84	33		Monthly	October 1, 2021
Capital Lease - Equipment	7.37	%	60	1		Monthly	April 24, 2019
Capital Lease - Equipment	6.07	%	48	38		Monthly	January 1, 2019
Capital Lease - Equipment	5.14	%	84	14		Monthly	January 1, 2022

The Company's capital lease obligations are secured by the specific equipment leased.

Interest Payments and Debt Maturities

Interest payments for continuing operations were $3,757 in 2014, $3,067 in 2013, and $2,795 in 2012. Maturities of long-term debt for periods following December 27, 2014 are as follows:



	Long-Term Debt		Capital Leases		Total
	Long-Term Debt		(See Note 18)		Total
2015	$	6,295	$	2,783	$	9,078
2016	5,445		2,854		8,299
2017	4,853		2,923		7,776
2018	3,733		2,678		6,411
2019	84,789		1,497		86,286
Thereafter	7,175		2,263		9,438
Total	$	112,290	$	14,998	$	127,288