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Long-Term Debt (Tables)

12 Months Ended

Jun. 27, 2021

The following table presents the total balances outstanding for UNIFI’s debt obligations, their scheduled maturity dates and the weighted average interest rates for borrowings as well as the applicable current portion of long-term debt:

		Weighted Average
	Scheduled	Interest Rate as of		Principal Amounts as of
	Maturity Date	June 27, 2021		June 27, 2021			June 28, 2020
ABL Revolver	December 2023	0.0%		$	—		$	—
ABL Term Loan	December 2023	3.1%	(1)		77,500			87,500
Finance lease obligations	(2)	3.6%			8,475			11,381
Construction financing	(3)	2.3%			882			—
Total debt					86,857			98,881
Current ABL Term Loan ⁽⁴⁾					(12,500	)		(10,000	)
Current portion of finance lease obligations					(3,545	)		(3,563	)
Unamortized debt issuance costs					(476	)		(711	)
Total long-term debt				$	70,336		$	84,607

(1)	Includes the effects of interest rate swaps.

(2)	Scheduled maturity dates for finance lease obligations range from May 2022 to November 2027.

(3)	Refer to the discussion below under the subheading “─Construction Financing” for further information.

(4)	Because fiscal 2022 is a 53-week fiscal year, five regularly scheduled ABL Term Loan principal payments are disclosed in the current portion of long-term debt to reflect the amount due within the operating cycle and fiscal year ending July 3, 2022.

Scheduled Maturities of Outstanding Debt Obligations

The following table presents the scheduled maturities of UNIFI’s outstanding debt obligations for the following five fiscal years and thereafter. Because fiscal 2022 is a 53-week fiscal year, five regularly scheduled ABL Term Loan principal payments are disclosed in the table below and the current portion of long-term debt to reflect the amount due within the operating cycle and fiscal year ending July 3, 2022:

	Fiscal 2022		Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Thereafter
ABL Revolver	$	—	$	—	$	—	$	—	$	—	$	—
ABL Term Loan		12,500		10,000		55,000		—		—		—
Finance lease obligations		3,545		1,257		1,301		1,195		733		444
Total ⁽¹⁾	$	16,045	$	11,257	$	56,301	$	1,195	$	733	$	444

(1)

Total reported excludes $882 for construction financing, described above.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details