5. LONG-TERM DEBT

Long-term debt consists of the following:

	July 31, 2011			October 31, 2010
Borrowings under revolving credit facility	$	—		$	14,000,000
Notes payable and capital leases		100,000			221,000
		100,000			14,221,000
Less: Current maturities of long-term debt		(45,000	)		(148,000	)
	$	55,000		$	14,073,000

As of July 31, 2011, the Company had no borrowings under its $300 million revolving credit facility, which does not mature until May 2013, and as of October 31, 2010, the weighted average interest rate on borrowings under the revolving credit facility was .9%. The revolving credit facility contains both financial and non-financial covenants. As of July 31, 2011, the Company was in compliance with all such covenants.