Note 11: Debt

(Amounts in thousands)	4/26/2014			4/27/2013
Industrial revenue bonds	$	7,100		$	7,100
Capital leases		674			989
Total debt		7,774			8,089
Less: current portion		(7,497	)		(513	)
Long-term debt	$	277		$	7,576

We maintain a revolving credit facility secured primarily by all of our accounts receivable, inventory, and cash deposit and securities accounts. Availability under the agreement fluctuates according to a borrowing base calculated on eligible accounts receivable and inventory. The credit agreement includes affirmative and negative covenants that apply under certain circumstances, including a 1.05 to 1.00 fixed charge coverage ratio requirement that applies when excess availability under the line is less than 12.5% of the revolving credit commitment of $150 million. At April 26, 2014, we were not subject to the fixed charge coverage ratio requirement, had no borrowings outstanding under the agreement, and had excess availability of $140.0 million.

Industrial revenue bonds were used to finance the construction of some of our manufacturing facilities. The facilities constructed from the bond proceeds are mortgaged as collateral for the bonds. Interest for our remaining bond is at a variable rate and at April 26, 2014, was approximately 0.1%. This bond matured and was paid in June 2014.

Fair value of our debt approximates the carrying value.

Capital leases consist primarily of long-term commitments for the purchase of information technology equipment and have maturities ranging from fiscal 2015 to fiscal 2017. Interest rates range from 7.6% to 9.1%.

Maturities of long-term capital leases, subsequent to April 26, 2014, are $0.2 million in fiscal 2016, and less than $0.1 million in fiscal 2017.

Cash paid for interest during fiscal years 2014, 2013 and 2012 was $0.5 million, $0.7 million, and $1.6 million, respectively.