Debt, Finance Lease and Other Financing Obligations

6 Months Ended

Apr. 01, 2023

Debt and Lease Obligation [Abstract]

Debt, Finance Lease and Other Financing Obligations

Debt, Finance Lease and Other Financing Obligations

Debt, finance lease and other financing obligations as of April 1, 2023 and October 1, 2022 consisted of the following (in thousands):

	April 1, 2023		October 1, 2022
4.05% Senior Notes, due June 15, 2025	$	100,000	$	100,000
4.22% Senior Notes, due June 15, 2028	50,000		50,000
Borrowings under Credit Facility	284,000		263,000
Finance lease and other financing obligations	50,093		50,269
Unamortized deferred financing fees	(1,352)		(1,522)
Total obligations	482,741		461,747
Less: current portion	(294,011)		(273,971)
Long-term debt, finance lease and other financing obligations, net of current portion	$	188,730	$	187,776

As of April 1, 2023, the Company was in compliance with covenants for all debt agreements.

During the six months ended April 1, 2023, the highest daily borrowing under the Company's 5-year senior unsecured revolving credit facility (referred to as the "Credit Facility") was $412.0 million; the average daily balance was $344.5 million. During the six months ended April 2, 2022, the highest daily borrowing was $294.0 million; the average daily balance was $168.7 million.

The fair value of the Company’s debt, excluding finance lease and other financing obligations, was $428.3 million and $401.6 million as of April 1, 2023 and October 1, 2022, respectively. The carrying value of the Company's debt, excluding finance lease and other financing obligations, was $434.0 million and $413.0 million as of April 1, 2023 and October 1, 2022, respectively. If measured at fair value in the financial statements, the Company's debt would be classified as Level 2 in the fair value hierarchy. Refer to Note 4, "Derivatives and Fair Value Measurements," for further information regarding the Company's fair value calculations and classifications.