DEBT AND LINES OF CREDIT (Tables)

9 Months Ended

Oct. 03, 2015

DEBT AND LINES OF CREDIT

Schedule of long-term debt

In thousands	October 3, 2015		January 3, 2015		October 4, 2014
Term Loan credit facility, due April 2021 (a)	$	393,368	$	396,158	$	397,106
Revolving credit facility	--		6,000		3,000
Capital lease obligations	8,245		8,585		8,691
Total debt	401,613		410,743		408,797
Less: Short-term borrowings (b)	4,499		10,459		7,446
Long-term debt	$	397,114	$	400,284	$	401,351

(a) The balance as of October 3, 2015, January 3, 2015 and October 4, 2014 included an unamortized debt discount of $1.6 million, $1.8 million and $1.9 million, respectively.

(b) At October 3, 2015, the balance consisted of $4.0 million of Term Loan amortization payments and obligations under capital leases. At January 3, 2015 and October 4, 2014, the balance consisted of $4.0 million of Term Loan amortization payments, outstanding borrowings under the Company’s amended and restated revolving credit facility (as amended to date, the “ABL Facility”) and obligations under capital leases.

Schedule of availability under the Company's ABL Facility

As of October 3, 2015, availability under the Company’s ABL Facility was as follows:

In thousands	Total Facility (a)		Borrowing Base (a)		Outstanding Borrowings		Letters of Credit Issued		Available Capacity		Excess Capacity (b)
Revolving credit facility (a)	$	200,000	$	274,412	$	--	$	10,686	$	189,314	$	169,314

(a) Availability under the ABL Facility is the lesser of $200.0 million or a borrowing base that is computed monthly and comprised of the Company’s eligible cash, accounts receivable and inventory.

(b) Excess capacity represents available capacity reduced by the minimum required aggregate borrowing availability under the ABL Facility of $20.0 million.