XML 57 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Borrowings (Tables)
12 Months Ended
Dec. 28, 2013
Debt Disclosure [Abstract]  
Schedule of Funded Debt to Adjusted Ratio Percentage [Table Text Block]
Applicable Rate means the applicable rate per annum set forth below, based upon Escalade’s Funded Debt to Adjusted Ratio as of the most recent determination date:
  
Funded Debt to
Adjusted EBITDA
Ratio
 
Revolving
Eurodollar
Borrowing
 
 
Term
Eurodollar
Borrowing
 
 
ABR
Revolving
Borrowing
 
 
ABR Term
Borrowing
 
 
Letter of
Credit Fee
 
 
Commitment
Fee
 
Category 1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Greater than or equal to 2.50
to 1.0
 
2.50
%
 
2.75
%
 
0.50
%
 
0.75
%
 
2.50
%
 
0.45
%
Category 2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Greater than or equal to 2.25
to 1.0 but less than 2.50
to 1.0
 
2.25
%
 
2.50
%
 
0.25
%
 
0.50
%
 
2.25
%
 
0.40
%
Category 3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Greater than or equal to 2.00
to 1.0 but less than 2.50 to 1.0
 
2.00
%
 
2.25
%
 
0.00
%
 
0.25
%
 
2.00
%
 
0.35
%
Category 4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Greater than or equal to 1.75
to 1.0 but less than 2.00 to 1.0
 
1.75
%
 
2.00
%
 
(0.25)
%
 
0.00
%
 
1.75
%
 
0.30
%
Category 5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less than 1.75 to 1.0
 
1.50
%
 
1.75
%
 
(0.50)
%
 
(0.25)
%
 
1.50
%
 
0.30
%
Schedule of Short-term Debt [Table Text Block]
Short-term debt at fiscal year-ends was as follows:
 
In Thousands
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Senior secured revolving credit facility of $31.0 million with a
    maturity of August 27, 2016. The interest rates at December 29,
    2013 ranged between 1.938% and 3.0%.
 
$
19,000
 
$
11,918
 
 
 
 
 
 
 
 
 
Euro overdraft facility of €1.0 million payable on demand. The
    facility bears an interest rate of LIBOR plus 2.5%.
 
 
 
 
2,452
 
 
 
 
 
 
 
 
 
Short-term debt reclassified from long-term debt
 
 
4,263
 
 
4,700
 
 
 
$
23,263
 
$
19,070
 
Schedule of Long-term Debt Instruments [Table Text Block]
Long-term debt at fiscal year-ends was as follows:
 
In Thousands
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Term loan of $5.0 million with a maturity date of August 27, 2018.
    The interest rate at December 28, 2013, was 2.1875%.
 
$
4,750
 
$
5,500
 
 
 
 
 
 
 
 
 
Mortgage payable (Wabash, Indiana Adjustable Rate Economic
    Development Revenue Refunding Bonds), annual installments are
    optional, interest varies with short-term rates and is adjustable
    weekly based on market conditions, maximum rate is 10.00%, rate
    at December 28, 2013 is 2.25%, due September 2028, secured by
    plant facility, machinery and equipment, and a stand-by letter of
    credit
 
 
2,700
 
 
2,700
 
 
 
 
 
 
 
 
 
Seller-financed agreement for real estate in Mexico. The agreement
    requires sixteen quarterly installments of $156 thousand each
    with a maturity date of November 30, 2016. This agreement
    has an interest rate of zero percent and is secured by the financed
    real estate in Mexico.
 
 
1,759
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
9,209
 
 
8,200
 
Portion classified as short-term debt
 
 
(4,263)
 
 
(4,700)
 
 
 
$
4,946
 
$
3,500