Debt

Senior notes. Unsecured senior debt, net of unamortized discounts and debt issuance costs, as of February 2, 2019 and February 3, 2018 consisted of the following:



($000)	2018		2017
6.38% Series A Senior Notes due 2018	$	—	$	84,973
6.53% Series B Senior Notes due 2021	64,942		64,922
3.375% Senior Notes due 2024	247,498		247,072
Total long-term debt	$	312,440	$	396,967

Less: current portion	—		84,973
Total due beyond one year	$	312,440	$	311,994

As of February 2, 2019, the Company had outstanding unsecured 3.375% Senior Notes due September 2024 (the “2024 Notes”) with an aggregate principal amount of $250 million. Interest on the 2024 Notes is payable semi-annually.

As of February 2, 2019, the Company also had outstanding Series B unsecured Senior Notes in the aggregate principal amount of $65 million, held by various institutional investors. The Series B notes are due in December 2021 and bear interest at a rate of 6.53%. Borrowings under these Senior Notes are subject to certain financial covenants, including interest coverage and other financial ratios. As of February 2, 2019, the Company was in compliance with these covenants.

On December 13, 2018, the Company repaid at maturity the $85 million principal amount of the Series A 6.38% unsecured Senior Notes.

As of February 2, 2019 and February 3, 2018, total unamortized discount and debt issuance costs were $2.6 million and $3.0 million, respectively, and were classified as a reduction of long-term debt.

The 2024 Notes, and the Series B Senior Notes are subject to prepayment penalties for early payment of principal.

The aggregate fair value of the two outstanding series of Senior Notes was approximately $316 million as of February 2, 2019, compared to aggregate fair value of approximately $411 million for the three then outstanding series of Senior Notes as of February 3, 2018 . The fair value is estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

The following table shows scheduled annual principal payments on Long-term debt:



($000)
2019	$	—
2020	$	—
2021	$	65,000
2022	$	—
2023	$	—
Thereafter	$	250,000

The table below shows the components of interest expense and income for fiscal 2018, 2017, and 2016:



($000)	2018			2017			2016
Interest expense on long-term debt	$	17,900		$	18,578		$	18,573
Other interest expense	1,004			979			1,022
Capitalized interest	(2,497		)	(710		)	(26		)
Interest income	(26,569		)	(11,171		)	(3,081		)
Interest (income) expense, net	$	(10,162	)	$	7,676		$	16,488

Revolving credit facility. The Company’s existing $600 million unsecured revolving credit facility expires in April 2021, and contains a $300 million sublimit for issuance of standby letters of credit (subject to increase in proportion to any increase in the size of the credit facility). The facility also contains an option allowing the Company to increase the size of its credit facility by up to an additional $200 million, with the agreement of the lenders. Interest on any borrowings under this facility is based on LIBOR plus an applicable margin (currently 100 basis points) and is payable quarterly and upon maturity. As of February 2, 2019, the Company had no borrowings or standby letters of credit outstanding under this facility and the $600 million credit facility remains in place and available.

The revolving credit facility is subject to a financial leverage ratio covenant. As of February 2, 2019, the Company was in compliance with this covenant.

Standby letters of credit and collateral trust. The Company uses standby letters of credit outside of its revolving credit facility in addition to a funded trust to collateralize its insurance obligations. As of February 2, 2019 and February 3, 2018, the Company had $7.3 million and $8.7 million, respectively, in standby letters of credit and $58.3 million and $57.1 million, respectively, in a collateral trust. The standby letters of credit are collateralized by restricted cash and the collateral trust consists of restricted cash, cash equivalents, and investments.

Trade letters of credit. The Company had $13.3 million and $20.7 million in trade letters of credit outstanding at February 2, 2019 and February 3, 2018, respectively.