Long-Term Debt (Tables)

12 Months Ended

Dec. 30, 2017

Debt outstanding as of December 30, 2017 and December 31, 2016 consisted of the following:



(in thousands)	2017			2016
Senior unsecured term loan due February 2021, interest payable based on the 1-month Eurodollar rate plus an applicable margin of 1.750% (All-in blended rate of 3.169% as of December 30, 2017, including applicable margin) ^{(1) (5)}	$	457,375		$	498,875
Senior unsecured term loan due February 2026, interest payable based on the 1-month Eurodollar rate plus an applicable margin of 2.125% (All-in blended rate of 3.796% as of December 30, 2017, including applicable margin) ^{(2) (5)}	300,000			300,000
Unsecured term loan due May 2024, interest payable based on the 1-month Eurodollar rate plus an applicable margin of 2.075% (All-in blended rate of 3.624% as of December 30, 2017, including applicable margin) ^{(3) (6)}	150,000			150,000
Unsecured term loan due May 2019, interest payable based on the 1-month Eurodollar rate plus an applicable margin of 1.700% (All-in blended rate of 3.271% as of December 30, 2017, including applicable margin) ^{(4) (6)}	121,875			129,375
Unsecured base rate revolving loan due May 2019, interest was payable at the agreement base rate plus applicable margin of 0.450% (Balance reduced amount available under the unsecured revolving credit facility.) ⁽⁶⁾	—			200,000
Unsecured revolving credit facility due May 2019, interest payable based on the 1-month Eurodollar rate plus applicable margin of 1.450% (All-in rate of 3.019% as of December 30, 2017, including applicable margin) ⁽⁶⁾	55,000			27,000
Debt issuance costs, net	(9,717		)	(10,291		)
Total debt, net	1,074,533			1,294,959
Less current portion of long-term debt	(49,000		)	(49,000		)
Total long-term debt, net	$	1,025,533		$	1,245,959

⁽¹⁾ We hold an interest rate swap agreement which effectively fixes the variable rate (Eurodollar portion) to 1.271% on $230.0 million of underlying notional amount from June 2017 through February 2021. See Note 15 for further details.

⁽²⁾ We hold three interest rate swap agreements, the first effectively fixing the variable rate (Eurodollar portion) to 1.337% on $100.0 million of underlying notional amount from June 2017 through June 2021; the second effectively fixing the variable rate to 1.615% on $100.0 million of underlying notional amount from June 2017 through June 2024; and the third effectively fixing the variable rate (Eurodollar portion) to 2.06% on $100.0 million of underlying notional from June 2017 through December 2022. See Note 15 for further details.

⁽³⁾ We hold two interest rate swap agreements, the first effectively fixing the variable rate (Eurodollar portion) to 1.975% on $50.0 million of underlying notional amount from present through May 2022 and the second effectively fixing the variable rate to 1.236% on $70.0 million of underlying notional amount from June 2017 through June 2020. See Note 15 for further details.

⁽⁴⁾ We hold an interest rate swap agreement which effectively fixes the variable rate (Eurodollar portion) to 1.580% on $25.0 million of underlying notional amount from present through May 2019. See Note15 for further details.

⁽⁵⁾ Under the Credit Agreement as defined below.

⁽⁶⁾ Under the Amended and Restated Credit Agreement as defined below.

Schedule of Maturities of Long-term Debt

Annual maturities of long-term debt as of December 30, 2017 are as follows:



(in thousands)	Amount
2018	$	49,000
2019	233,375
2020	71,500
2021	407,875
2022	90,000
Thereafter	232,500
Total long-term debt maturities	$	1,084,250

Schedule of Extinguishment of Debt

The loss on early extinguishment of debt was calculated as follows:



(in thousands)	Amount
Repayment of private placement senior notes	$	100,000
Penalty on early extinguishment	6,170
Book value of private placement debt, including unamortized fair value adjustment	(101,421		)
Loss on early extinguishment of debt	$	4,749

Schedule of EBITDA Covenant Ratios

Such EBITDA ratios were as follows:



	Original EBITDA Covenant Ratio	May 2017 Amended EBITDA Covenant Ratio
Second and Third Quarters 2016	4.75	N/A
Fourth Quarter 2016 and First Quarter 2017	4.25	N/A
Second Quarter 2017	4.00	4.25
Third Quarter 2017	3.75	4.25
Fourth Quarter 2017 and First Quarter 2018	3.50	4.25
Second Quarter 2018	3.50	4.00
Third Quarter 2018	3.50	3.75
Fourth Quarter 2018 and Thereafter to Maturity	3.50	3.50