Long-term Debt and Capital Lease Obligations

The following is a summary of indebtedness outstanding:



(In thousands)	2017			2016

Senior Notes	$	500,000		$	500,000
Capital lease obligations	13,068			50,444
Other	14,162			13,921

Debt and capital lease obligations	527,230			564,365
Less: debt issuance costs	(515		)	(616		)

Debt and capital lease obligations, net	526,715			563,749
Less: current portion	(11,585		)	(26,197		)

Long-term debt and capital lease obligations	$	515,130		$	537,552

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 December 30, 2017, the interest rate for the current interest period was 2.42% 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.

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 2017, we had no outstanding borrowings under this facility; however, we had $52 million of outstanding letters of credit, which reduced our available borrowing capacity to $48 million.

Covenant Compliance

As of December 30, 2017, 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 2017 are as follows:



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

2018	$	11,921	$	336	$	11,585	$	—	$	—	$	11,585
2019	1,526		43		1,483		—		2,500		3,983
2020	—		—		—		—		—		—
2021	—		—		—		—		1,100		1,100
2022	—		—		—		300,000		1,700		301,700
2023 and thereafter	—		—		—		200,000		8,862		208,862

Total	$	13,447	$	379	$	13,068	$	500,000	$	14,162	$	527,230