Short-Term Borrowings

12 Months Ended

Oct. 03, 2015

Short-term Debt [Abstract]

Short-Term Borrowings

SHORT-TERM BORROWINGS

We have several lines of credit which allow us to borrow in the applicable local currency. We have a total of $13.2 million of unsecured foreign lines of credit as of October 3, 2015. At October 3, 2015, we had used $1.5 million of these available foreign lines of credit as guarantees. These credit facilities were used in Europe, Japan and China during fiscal 2015. In addition, our domestic line of credit consists of a $50.0 million unsecured revolving credit account. The agreement will expire on May 31, 2017. The line of credit is subject to covenants related to financial ratios and tangible net worth with which we are currently in compliance. We have used $1.1 million for letters of credit against our domestic line of credit as of October 3, 2015.