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DEBT
3 Months Ended
Mar. 29, 2014
Debt Disclosure [Abstract]  
DEBT
DEBT
Debt consisted of the following:
(In millions)
 
March 29, 2014
 
December 28, 2013
Prudential Agreement - 5.79 percent
 
$
150.0

 
$
150.0

Tax increment financing debt
 
24.1

 
24.6

Revolver
 
15.0

 

Capital leases
 
0.7

 
0.8

Foreign subsidiary debt
 
14.5

 
14.2

 
 
204.3

 
189.6

Less current maturities
 
(30.6
)
 
(15.4
)
Long-term debt
 
$
173.7

 
$
174.2



Foreign subsidiary debt denoted in the table above is predominately comprised of debt at Impo.

The total estimated fair value of debt was $218.3 million and $203.7 million at March 29, 2014 and December 28, 2013, respectively. The fair value assumed floating rate debt was valued at par. In the absence of quoted prices in active markets, considerable judgment is required in developing estimates of fair value. Estimates are not necessarily indicative of the amounts the Company could realize in a current market transaction. In determining the fair value of its long term debt, the Company uses estimates based on rates currently available to the Company for debt with similar terms and remaining maturities. Accordingly, the fair value of debt is classified as a Level 2 within the valuations hierarchy.

The following debt payments are expected to be paid in accordance with the following schedule:
(In millions) 
 
Total
 
2014
 
2015
 
2016
 
2017
 
2018
 
More than 5 years
Debt
 
$
203.6

 
$
30.4

 
$
30.9

 
$
31.0

 
$
31.0

 
$
31.0

 
$
49.3

Capital leases
 
0.7

 
0.2

 
0.2

 
0.1

 
0.1

 
0.1

 

 
 
$
204.3

 
$
30.6

 
$
31.1

 
$
31.1

 
$
31.1

 
$
31.1

 
$
49.3