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Long-Term Debt and Credit Arrangements (Tables)
 12 Months Ended
Apr. 29, 2016
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Refer to the table below:
(in thousands)
April 29, 2016
 
April 24, 2015
Credit Agreement borrowings (1)
$
307,000

 
$
447,599

Mortgage Loan (1)
28,963

 
—

R&D Loan (1)
2,219

 
2,631

Interest-free loan (1)
875

 
855

Total borrowings
339,057

 
451,085

Less current portion
(3,419
)
 
(409
)
Long term debt
$
335,638

 
$
450,676


(1)
The Credit Agreement, Mortgage Loan, R&D Loan and Interest-free loan mature in fiscal 2019, 2026, 2021 and 2022, respectively.
Schedule of Net Interest Expense
Net interest expense in fiscal years 2016, 2015 and 2014 was comprised of the following:
(in thousands)
2016
 
2015
 
2014
Interest Expense:
 
 
 
 
 
     Variable-rate debt (1)
$
11,298

 
$
10,373

 
$
4,885

     Fixed-rate debt (2)
2,262

 
1,177

 
391

     Capitalized interest
(210
)
 
(471
)
 
(611
)
     Total Interest Expense on outstanding borrowings
13,350

 
11,079

 
4,665

Interest income:
 
 
 
 
 
     Accretion on note receivable (3)
(2,082
)
 
(1,859
)
 
(1,918
)
     Other (4)
(468
)
 
(571
)
 
(733
)
     Total Interest Income
(2,550
)
 
(2,430
)
 
(2,651
)
Net Interest Expense
$
10,800

 
$
8,649

 
$
2,014

(1)
Primarily interest expense on our Credit Agreement Borrowings and our Mortgage loan
(2)
Includes the amortization of debt issuance costs
(3)
Accretion on our $30,000 note receivable, obtained as part of the sale of Mimi’s Café to Le Duff.
(4)
Primarily interest income on our $30,000 note receivable, obtained as part of the sale of Mimi’s Café to Le Duff.