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Debt (Tables)
3 Months Ended
Dec. 29, 2018
Debt Disclosure [Abstract]  
Schedule of short and long term debt
The Company’s short- and long-term debt as of December 29, 2018 and September 29, 2018 was as follows:
 
December 29, 2018
 
September 29, 2018
 
Rate
 
Balance
 
Rate
 
Balance
(dollars in thousands)
 
 
 
 
 
 
 
J.P. Morgan Chase Bank, N.A Secured Term Loan (the “Term Loan”) (1)
4.8
%
 
$
40,000

 
4.8
%
 
$
40,000

Unamortized debt issuance costs (2)
 
 
(218
)
 
 
 
(236
)
Total indebtedness
 
 
$
39,782

 
 
 
$
39,764

Less short-term portion
 
 
(8,333
)
 
 
 
(6,667
)
Long-term debt
 
 
$
31,449

 
 
 
$
33,097


(1)
Bears interest at a variable rate equal to an adjusted LIBOR plus 2.25% and is payable quarterly. Due in October 2021, with quarterly principal payments beginning in July 2019.
(2)
Debt issuance costs are recorded as debt discount and recorded as interest expense over the term of the agreement.