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Debt, Finance Lease and Other Financing Obligations
 12 Months Ended
Sep. 30, 2023
Debt and Lease Obligation [Abstract]  
Debt, Finance Lease and Other Financing Obligations Debt, Finance Lease and Other Financing Obligations
Debt and finance lease obligations as of September 30, 2023 and October 1, 2022, consisted of the following (in thousands):
20232022
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 the Credit Facility233,000 263,000 
Finance lease and other financing obligations49,233 50,269 
Unamortized deferred financing fees(1,175)(1,522)
Total obligations431,058 461,747 
Less: current portion(240,205)(273,971)
Long-term debt, finance lease and other financing obligations, net of current portion$190,853 $187,776 
On June 15, 2018, the Company entered into a Note Purchase Agreement (the “2018 NPA”) pursuant to which it issued an aggregate of $150.0 million in principal amount of unsecured senior notes, consisting of $100.0 million in principal amount of 4.05% Series A Senior Notes, due on June 15, 2025, and $50.0 million in principal amount of 4.22% Series B Senior Notes, due on June 15, 2028 (collectively, the “2018 Notes”), in a private placement. The 2018 NPA includes customary operational and financial covenants with which the Company is required to comply, including, among others, maintenance of certain financial ratios such as a total leverage ratio and a minimum interest coverage ratio. The 2018 Notes may be prepaid in whole or in part at any time, subject to payment of a make-whole amount; interest on the 2018 Notes is payable semiannually. As of September 30, 2023, the Company was in compliance with the covenants under the 2018 NPA.
On June 9, 2022, the Company refinanced its then-existing senior unsecured revolving credit facility (as amended by that certain Amendment No. 1 to Credit Agreement dated April 29, 2020, the "Prior Credit Facility") by entering into a new 5-year revolving credit facility (collectively with the Prior Credit Facility, referred to as the "Credit Facility"), which expanded the maximum commitment from $350.0 million to $500.0 million and extended the maturity from May 15, 2024 to June 9, 2027. The maximum commitment under the Credit Facility may be further increased to $750.0 million, generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. During fiscal 2023, the highest daily borrowing was $412.0 million; the average daily balance was $338.1 million. The Company borrowed $748.5 million and repaid $778.5 million of revolving borrowings ("revolving commitment") under the Credit Facility during fiscal 2023. As of September 30, 2023, the Company was in compliance with all financial covenants relating to the Credit Facility, which are generally consistent with those in the 2018 NPA discussed above. The Company is required to pay a commitment fee on the daily unused credit facility based on the Company's leverage ratio; the fee was 0.125% as of September 30, 2023.
The aggregate scheduled maturities of the Company’s debt obligations as of September 30, 2023, are as follows (in thousands):
2024$233,000 
2025100,000 
2026— 
2027— 
202850,000 
Total$383,000 
The aggregate scheduled maturities of the Company’s finance leases and other financing obligations as of September 30, 2023, are as follows (in thousands):
2024$7,205 
20254,388 
20262,104 
202712,607 
20281,369 
Thereafter21,560 
Total$49,233 
The Company's weighted average interest rate on finance lease obligations was 16.7% and 17.1% as of September 30, 2023 and October 1, 2022, respectively.