Long-Term Debt (Tables)

3 Months Ended

Apr. 26, 2020

Debt Instruments [Abstract]

Schedule of Long-term Debt

Long-term debt and the current period interest rates were as follows:

	Balance as of
(in thousands)	April 26, 2020			January 26, 2020
Revolving loans	$	193,000		$	197,000
Total long-term debt	193,000			197,000
Debt issuance costs	(2,160		)	(2,257		)
Total long-term debt, net of debt issuance costs	$	190,840		$	194,743
Effective interest rate 1	2.00		%	2.95		%

⁽¹⁾ As of April 26, 2020, the effective interest rate is a weighted-average rate that represents interest on the first $150.0 million of the debt outstanding at a fixed LIBOR rate of 0.7275% plus a margin of 1.25% (total fixed rate of 1.9775%), and the remainder of the debt outstanding at a variable rate based on the one-month LIBOR rate, which was 0.83% as of April 26, 2020, plus a margin of 1.25% (total variable rate of 2.08%).

Schedule Of Interest Expense

Interest expense was comprised of the following components for the periods presented:

	Three Months Ended
(in thousands)	April 26, 2020		April 28, 2019
Contractual interest	$	1,438	$	2,342
Amortization of debt discount and issuance costs	121		125
Total interest expense	$	1,559	$	2,467