Debt

The carrying amounts of debt at

June 30, 2018

and

December 30, 2017

are as follows:

(in thousands)	June 30, 2018			December 30, 2017
Revolving Credit Facility	$	—		$	—
Term Loan		157,500			122,500
Euro Senior Notes, Series A due 2023		135,335			139,623
Euro Senior Notes, Series B due 2028		109,887			113,369
U.S. Senior Notes, Series A due 2022		25,000			25,000
U.S. Senior Notes, Series B due 2027		100,000			100,000
U.S. Senior Notes, Series A due 2025		50,000			—
U.S. Senior Notes, Series B due 2030		125,000			—
Other		60			—
Unamortized debt issuance costs		(5,184	)		(4,881	)
Total debt		697,598			495,611
Less: Current maturities		(10,060	)		(6,250	)
Total long-term debt	$	687,538		$	489,361

Revolving Credit Facility / Term Loan

March 4, 2016,

the Company entered into a

five

-year credit agreement (“Credit Agreement”) with a group of lenders for up to

$700.0

million. The Credit Agreement consisted of an unsecured revolving credit facility (“Revolving Credit Facility”) of

$575.0

million and an unsecured term loan credit facility (“Term Loan”) of up to

$125.0

million. In addition, the Company had the ability, from time to time, to increase the size of the Revolving Credit Facility and the Term Loan by up to an additional

$150.0

million, in the aggregate, in each case in minimum increments of

$25.0

million, subject to certain conditions and the agreement of participating lenders.

October 13, 2017,

the Company amended the Credit Agreement to increase the Revolving Credit Facility from

$575.0

million to

$700.0

million and increase the Term Loan from

$125.0

million to

$200.0

million and to extend the expiration date from

March 4, 2021

October 13, 2022.

The Credit Agreement also includes the option for the Company to increase the size of the Revolving Credit Facility and the Term Loan by up to an additional

$300.0

million, in the aggregate, subject to the satisfaction of certain conditions set forth in the Credit Agreement. Term Loans

may

be made in up to

two

advances. The

first

advance of

$125.0

million occurred on

October 13, 2017

and the

second

advance of

$75.0

million occurred on

January 16, 2018.

For the Term Loan, the Company is required to make quarterly principal payments of

1.25%

of the original term loan (

$2.5

million with the

second

advance on

January 16, 2018)

through maturity, with the remaining balance due on

October 13, 2022.

In addition to the quarterly principal payments, the Company paid

$35.0

million of principal on the term loan during the

three

months ended

June 30, 2018.

Outstanding borrowings under the Credit Agreement bear interest, at the Company’s option, at either LIBOR, fixed for interest periods of one, two,

three

six

-month periods, plus

1.00%

2.00%,

or at the bank’s Base Rate, as defined, plus

0.00%

1.00%,

based upon the Company’s Consolidated Leverage Ratio, as defined. The Company is also required to pay commitment fees on unused portions of the credit agreement ranging from

0.15%

0.25%,

based on the Consolidated Leverage Ratio, as defined in the agreement. The credit agreement includes representations, covenants and events of default that are customary for financing transactions of this nature. The effective interest rate on outstanding borrowings under the credit facility was

3.59%

June 30, 2018.

As of

June 30, 2018,

the Company had

$0.1

million outstanding in letters of credit and had available

$699.9

million of borrowing capacity under the Revolving Credit Facility. At

June 30, 2018,

the Company was in compliance with all covenants under the Credit Agreement.

Senior Notes

December 8, 2016,

the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold

€212

million aggregate principal amount of senior notes in

two

series. The funding date for the Euro denominated senior notes occurred on

December 8, 2016

for

€117

million in aggregate amount of

1.14%

Senior Notes, Series A, due

December 8, 2023 (

“Euro Senior Notes, Series A due

2023”

), and

€95

million in aggregate amount of

1.83%

Senior Notes, Series B due

December 8, 2028 (

“Euro Senior Notes, Series B due

2028”

) (together, the “Euro Senior Notes”). Interest on the Euro Senior Notes is payable semiannually on

June 8

and

December 8,

commencing

June 8, 2017.

December 8, 2016,

the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold

$125

million aggregate principal amount of senior notes in

two

series. On

February 15, 2017,

$25

million in aggregate principal amount of

3.03%

Senior Notes, Series A, due

February 15, 2022 (

“U.S. Senior Notes, Series A due

2022”

), and

$100

million in aggregate principal amount of

3.74%

Senior Notes, Series B, due

February 15, 2027 (

“U.S. Senior Notes, Series B due

2027”

) (together, the “U.S. Senior Notes due

2022

and

2027”

) were funded. Interest on the U.S. Senior Notes due

2022

and

2027

is payable semiannually on

February 15

and

August 15,

commencing

August 15, 2017.

November 15, 2017,

the Company entered into a Note Purchase Agreement pursuant to which the Company issued and sold

$175

million in aggregate principal amount of senior notes in

two

series. On

January 16, 2018,

$50

million aggregate principal amount of

3.48%

Senior Notes, Series A, due

February 15, 2025 (

“U.S. Senior Notes, Series A due

2025”

) and

$125

million in aggregate principal amount of

3.78%

Senior Notes, Series B, due

February 15, 2030 (

“U.S. Senior Notes, Series B due

2030”

) (together the “U.S. Senior Notes due

2025

and

2030”

and with the Euro Senior Notes and the U.S. Senior Notes

2022

and

2027,

the “Senior Notes”) were funded. Interest on the U.S. Senior Notes due

2025

and

2030

will be payable on

February 15

and

August 15,

commencing on

August 15, 2018.

The Senior Notes have

not

been registered under the Securities Act, or applicable state securities laws. The Senior Notes are general unsecured senior obligations and rank equal in right of payment with all existing and future unsecured unsubordinated indebtedness of the Company.

The Senior Notes are subject to certain customary covenants, including limitations on the Company’s ability, with certain exceptions, to engage in mergers, consolidations, asset sales and transactions with affiliates, to engage in any business that would substantially change the general business of the Company, and to incur liens. In addition, the Company is required to satisfy certain financial covenants and tests relating to, among other matters, interest coverage and leverage. At

June 30, 2018,

the Company was in compliance with all covenants under the Senior Notes.

The Company

may

redeem the Senior Notes upon the satisfaction of certain conditions and the payment of a make-whole amount to noteholders, and are required to offer to repurchase the Senior Notes at par following certain events, including a change of control.