Borrowings (Tables)

12 Months Ended

Oct. 02, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The following table presents certain information regarding the Company’s long-term debt at October 2, 2020 and September 27, 2019 (dollars in thousands):

	Interest Rate	Maturity	October 2, 2020		September 27, 2019
Revolving Credit Facility	LIBOR + applicable margin (1)	March 2024	$	152,794	$	303,780
2020 Term Loan Facility	LIBOR + applicable margin (2)	March 2025	1,025,826		—
2017 Term Loan Facility	LIBOR + applicable margin (3)	December 2020	—		400,000
Fixed-rate notes due:
Senior Notes, Series A	4.27%	May 2025	190,000		190,000
Senior Notes, Series B	4.42%	May 2028	180,000		180,000
Senior Notes, Series C	4.52%	May 2030	130,000		130,000
Less: Deferred Financing Fees			(1,679)		(2,535)
Total Long-term debt, net			$	1,676,941	$	1,201,245

(1)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the Revolving Credit Facility (defined below)), borrowings under the Revolving Credit Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.5%  or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rates, including applicable margins, at October 2, 2020 and September 27, 2019 were approximately 1.39% and 2.97%.

(2)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2020 Term Loan Facility (defined below)), borrowings under the 2020 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rate, including applicable margin, at October 2, 2020 was approximately 1.37%.

(3)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2017 Term Loan Facility (defined below)), borrowings under the 2017 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 1.0% and 1.5% or a base rate plus a margin of between 0% and 0.5%. The applicable LIBOR rate, including applicable margin, at September 27, 2019 was approximately 3.05%.

Schedule of Interest Expense

The following table presents the amount of interest paid by the Company during October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):

For the Years Ended
October 2, 2020	September 27, 2019	September 28, 2018
$58,257	$81,582	$68,467