XML 61 R45.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Tables)
12 Months Ended
Dec. 28, 2013
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Debt consists of the following (in thousands):
 
        
 
December 28, 2013
 
December 29, 2012
Credit Agreement and Former Credit Agreement:
 
 
 
Revolving Credit Facility
$
286,676

 
$

Term Loan
340,030

 

8.5% Senior Notes due 2018
250,000

 
250,000

Other Notes and Obligations
10,129

 
224

 
886,835

 
250,224

Less Current Maturities
19,888

 
82

 
$
866,947

 
$
250,142


Schedule Of Debt Redemption Prices [Table Text Block]
On and after December 15, 2014, the Company may redeem all or, from time to time, a part of the 8.5% Notes (including any additional 8.5% Notes) upon not less than 30 nor more than 60 days’ notice, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest on the 8.5% Notes, if any, to the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period beginning on December 15 of the years indicated below:
            
Year
Percentage
2014
104.250%
2015
102.125%
2016 and thereafter
100.000%

On and after January 15, 2017, Darling may redeem all or, from time to time, a part of the 5.375% Notes (including any additional Notes), at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest on the 5.375% Notes, if any, to, but excluding, the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period beginning on January 15 of the years indicated below:
 
Year
Percentage
2017
104.031%
2018
102.688%
2019
101.344%
2020 and thereafter
100.000%
Credit Agreement and the Notes elements [Table Text Block]
 
The Credit Agreement and the 8.5% Notes consisted of the following elements at December 28, 2013 and December 29, 2012, respectively (in thousands):

        
 
December 28, 2013
 
December 29, 2012
Senior Notes
 
 
 
8.5% Notes due 2018
$
250,000

 
$
250,000

 
 
 
 
Credit Agreement and Former Credit Agreement:
 

 
 

Term Loan
$
340,030

 
$

Revolving Credit Facility:
 

 
 

Maximum availability
$
1,000,000

 
$
415,000

Borrowings outstanding
286,676

 

Letters of credit issued
32,662

 
30,119

Availability
$
680,662

 
$
384,881

Schedule of Maturities of Long-term Debt [Table Text Block]
Maturities of long-term debt at December 28, 2013 follow (in thousands):
 
        
 
Contractual
Debt Payment
2014
$
19,888

2015
19,502

2016
27,487

2017
27,027

2018
792,527

thereafter
404

 
$
886,835