Long-term Debt and Capital Lease Obligations

The following is a summary of indebtedness outstanding:



(In thousands)	2015			2014

Note agreement, 5.54%	$	—		$	14,233
Senior Notes	500,000			—
Capital lease obligations	92,416			116,095
Other	13,450			—

Debt and capital lease obligations	605,866			130,328
Less: debt issuance costs	(716		)	—

Debt and capital lease obligations, net	605,150			130,328
Less: current portion	(41,797		)	(67,460		)

Long-term debt and capital lease obligations	$	563,353		$	62,868

5.54% Notes

In November 2005, we completed a £65 million unsecured private placement of debt at 5.54% pursuant to a Note Agreement. The Note Agreement was payable in seven equal annual installments, which commenced November 2009. These 5.54% Notes were paid in full in 2015.

Senior Notes

In January 2015, we issued $500 million aggregate principal amount of unsecured Senior Notes ("Senior Notes"), pursuant to a Master Note Purchase Agreement dated December 4, 2014. The issuance consisted of $225 million of 3.18% Series 2015-A Notes due February 15, 2022, $200 million of 3.58% Series 2015-B Notes due February 14, 2025, and $75 million in floating rate Series 2015-C Notes due February 15, 2022. Interest is payable semiannually on February 15th and August 15th in each year, commencing on August 15, 2015 for the Series 2015-A Notes and Series 2015-B Notes. The Series 2015-C Notes will accrue interest at a floating rate equal to the Adjusted LIBOR Rate (as defined in the Master Note Purchase Agreement), payable quarterly on February 15th, May 15th, August 15th and November 15th in each year, commencing on May 15, 2015. As of January 2, 2016, the interest rate for the current interest period was 1.36% based on the three-month floating LIBOR rate. The debt issuance costs in the table above relate to the issuance of these Senior Notes. The Master Note Purchase Agreement contains certain leverage and interest coverage ratio covenants and provides certain restrictions on our ability to borrow, incur liens, sell assets, and other customary terms. Proceeds from the Senior Notes are available for general corporate purposes.

Capital Leases

Our capital lease obligations are primarily related to the procurement of hardware and health care devices, and generally have a term of five years.

Other

Other indebtedness includes estimated amounts payable through September 2025, under an agreement entered into in September 2015.

Credit Facility

In October 2015, we amended and restated our revolving credit facility. The amended facility provides a $100 million unsecured revolving line of credit for working capital purposes, which includes a letter of credit facility, expiring in October 2020. We have the ability to increase the maximum capacity to $200 million at any time during the facility’s term, subject to lender participation. Interest is payable at a rate based on prime, LIBOR, or the U.S. federal funds rate, plus a spread that varies depending on the leverage ratios maintained. The agreement provides certain restrictions on our ability to borrow, incur liens, sell assets and pay dividends and contains certain cash flow and liquidity covenants. As of the end of 2015, we had no outstanding borrowings under this facility; however, we had $16 million of outstanding letters of credit, which reduced our available borrowing capacity to $84 million.

Covenant Compliance

As of January 2, 2016, we were in compliance with all debt covenants.

Minimum annual payments under existing capital lease obligations and maturities of indebtedness outstanding at the end of 2015 are as follows:



	Capital Lease Obligations
(In thousands)	Minimum Lease Payments		Less: Interest		Principal		Senior Notes		Other		Total

2016	$	44,045	$	2,248	$	41,797	$	—	$	—	$	41,797
2017	24,271		1,236		23,035		—		2,500		25,535
2018	14,879		654		14,225		—		—		14,225
2019	10,270		254		10,016		—		—		10,016
2020	3,370		27		3,343		—		1,100		4,443
2021 and thereafter	—		—		—		500,000		9,850		509,850

Total	$	96,835	$	4,419	$	92,416	$	500,000	$	13,450	$	605,866