Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of Debt

Following is a summary of the Company’s debt:

(in thousands)	Maturity Date	Interest Rate	Interest Paid	Public or Nonpublic	March 31, 2019			December 30, 2018
Senior notes(1)	4/15/2019	7.00%	Semi-annually	Public	$	110,000		$	110,000
Term loan facility(1)	6/7/2021	Variable	Varies	Nonpublic		277,500			292,500
Senior notes	2/27/2023	3.28%	Semi-annually	Nonpublic		125,000			125,000
Revolving credit facility(2)	6/8/2023	Variable	Varies	Nonpublic		129,000			80,000
Senior notes	11/25/2025	3.80%	Semi-annually	Public		350,000			350,000
Senior notes	3/21/2030	3.96%	Quarterly	Nonpublic		150,000			150,000
Unamortized discount on senior notes(3)	4/15/2019					(11	)		(78	)
Unamortized discount on senior notes(3)	11/25/2025					(59	)		(61	)
Debt issuance costs						(2,930	)		(2,958	)
Total debt						1,138,500			1,104,403
Less: Current portion of debt						-			-
Long-term debt					$	1,138,500		$	1,104,403

^{(1) The senior notes due in 2019 were refinanced on April 10, 2019 using proceeds from the issuance of the senior notes due in 2026 (as discussed below). The Company intends to refinance the term loan facility, which has principal payments that will be due in the next twelve months, and has the capacity to do so under its revolving credit facility, which is classified as long-term debt. As such, any amounts due in the next twelve months were classified as noncurrent.}

^{(2) The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million, which may be increased at the Company’s option to $750 million, subject to obtaining commitments from the lenders and satisfying other conditions specified in the credit agreement. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company.}

^{(3) The senior notes due in 2019 were issued at 98.238% of par and the senior notes due in 2025 were issued at 99.975% of par.}