Debt and Credit Arrangements (Tables)

12 Months Ended

Dec. 25, 2016

Debt and Credit Arrangements

Schedule of Long-Term Debt, net

Long-term debt, net consists of the following (in thousands):

		December 25,		December 27,
		2016		2015
Outstanding debt	$	300,575	$	256,000
Debt issuance costs		(755)		(854)
Total long-term debt, net	$	299,820	$	255,146

Schedule of Interest Rate Swap Agreements

As of December 25, 2016, we have the following interest rate swap agreements, including three forward starting swaps executed in 2015 that will become effective in 2018 upon expiration of the two existing swaps for $125 million:

				Fixed
Effective Dates	Debt Amount			Rates
July 30, 2013 through April 30, 2018	$	75	million	1.42	%
December 30, 2014 through April 30, 2018	$	50	million	1.36	%
April 30, 2018 through April 30, 2023	$	55	million	2.33	%
April 30, 2018 through April 30, 2023	$	35	million	2.36	%
April 30, 2018 through April 30, 2023	$	35	million	2.34	%

Schedule of Location and Amounts of Swaps in the Accompanying Consolidated Financial Statements

The following table provides information on the location and amounts of our swaps in the accompanying consolidated financial statements (in thousands):

	Liability Derivatives
		Fair Value		Fair Value
		December 25,		December 27,
	Balance Sheet Location	2016		2015
Interest rate swaps	Other current and long-term liabilities	$	770	$	2,262

Schedule of Effect of Derivative Instruments on the Accompanying Consolidated Financial Statements

The effect of derivative instruments on the accompanying consolidated financial statements is as follows (in thousands):

									Amount of Gain
							Location of Gain or		or (Loss)
			Location of Gain		Amount of Gain		(Loss) Recognized		Recognized in
			or (Loss)		or (Loss)		in Income on		Income on
	Recognized in		Reclassified		Reclassified		Derivative		Derivative
Derivatives- Cash	AOCL on		from AOCL into		from AOCL into		(Ineffective Portion		(Ineffective
Flow	Derivative		Income		Income		and Amount		Portion and Amount
Hedging	(Effective		(Effective		(Effective		Excluded from		Excluded from
Relationships	Portion)		Portion)		Portion)		Effectiveness Testing)		Effectiveness Testing)
Interest rate swaps:
2016	$	940		Interest expense	$	(1,161)		Interest expense	$	—
2015	$	(1,163)		Interest expense	$	(1,563)		Interest expense	$	—
2014	$	(164)		Interest expense	$	(996)		Interest expense	$	—