Borrowings

12 Months Ended

Sep. 30, 2011

Borrowings

Borrowings

6. Borrowings

Short-Term Credit Arrangements

The following table presents certain information regarding the Company's various credit facilities and bank loan agreements at September 30, 2011 and October 1, 2010 (dollars in thousands):

	2011					2010
	Principal Balance Outstanding		Range of Interest Rates			Principal Balance Outstanding		Range of Interest Rates
$290.0 Million revolving credit facility	$	171,788		0.96 – 1.57	%	$	—		—
Bilateral loan agreements	$	392,059		1.0 – 2.15	%	$	79,157		1.42	%
Other loan agreements	$	2,184		6.0	%	$	242		4.5	%

The Company's $290.0 million revolving credit facility expires in May 2012; hence, amounts classified previously as long-term debt are now classified as current liabilities in the accompanying Consolidated Balance Sheet at September 30, 2011. This facility provides for unsecured borrowings from banks (a syndicate consisting of U.S., Canadian, European, and Asian banks) at either fixed rates offered by the banks at the time of borrowing on loans not greater than twelve months, or at variable rates based on the agent bank's base rate, LIBOR or the latest federal funds rate. The credit agreement contains certain negative covenants relating to the Company's "consolidated net worth", and a "leverage ratio" based on outstanding borrowings (including financial letters of credit) and earnings before interest, taxes, depreciation, and amortization (all as defined in the agreement). The agreement requires us to pay a facility fee based on the total amount of the commitments.

The Company's "bilateral loan agreements" include a number of credit facilities with major U.S. and European banks entered into in fiscal 2011 in connection with the acquisition of the Aker Entities. Also included in this category are amounts outstanding under two bilateral facilities we entered into in connection with the Company's purchases of (i) a one-third interest in AWE, and (ii) an additional 55% interest in CES. These bilateral loan agreements expire between April 30, 2012 and May 28, 2012, and bear interest at Libor plus 0.75%. The following table presents certain additional information regarding the Company's various loan agreements for he fiscal years shown:

	2011			2010
Maximum amount outstanding at any month-end during the fiscal year	$	675,083		$	117,482
Average amount outstanding during the year	$	403,649		$	84,018
Weighted average interest rate during the year		1.81	%		1.29	%

Included in "Long-term Debt" in the accompanying Consolidated Balance Sheets at September 30, 2011 and October 1, 2010 are amounts relating to a real estate mortgage and other, miscellaneous indebtedness assumed in connection with various business combinations.

The following table presents the amount of interest paid by the Company during fiscal 2011, 2010, and 2009 (in thousands):

	2011		2010		2009
Amount of interest paid	$	7,778	$	11,702	$	1,690

Included in interest payments during fiscal 2010 is approximately $9.9 million of interest paid in connection with the SIVOM judgment (see Note 11—Contractual Guarantees, Litigation, Investigations, and Insurance, below).