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Debt and Credit Arrangements (Tables)
12 Months Ended
Dec. 25, 2011
Schedule of Debt and Credit Arrangements
Debt and credit arrangements consist of the following (in thousands):
 
   
2011
   
2010
 
             
Revolving line of credit
  $ 51,489     $ 99,000  
Other
    -       17  
Total long-term debt
  $ 51,489     $ 99,017  
                 
Schedule of Location and Amounts of Swaps in the Accompanying Consolidated Financial Statements
Derivatives designated as hedging instruments:
 
                 
 
Asset Derivatives
     
Liability Derivatives
     
 
Balance Sheet Location
 
Fair Value
Dec. 25, 2011
 
Balance Sheet Location
 
Fair Value
Dec. 26, 2010
 
                 
Interest rate swaps
 Other long-term assets
  $ 11  
 Other long-term liabilities
  $ 313  
                     
Schedule of Effect of Derivative Instruments on the Consolidated Financial Statements
Effect of Derivative Instruments on the Consolidated Financial Statements
             
                       
Derivatives -
Cash Flow
Hedging
Relationships
 
Amount of Gain
or (Loss)
Recognized
 in
 Accumulated
OCI on
Derivative
(Effective
Portion)
 
Location of Gain
or (Loss)
Reclassified
from
Accumulated
OCI into Income
(Effective
Portion)
 
Amount of Gain
or (Loss)
Reclassified
from
Accumulated
OCI into Income
(Effective Portion)
 
Location of Gain
or (Loss)
Recognized in
Income on
Derivative
(Ineffective
Portion and
Amount
Excluded from
Effectiveness
Testing)
 
Amount of Gain
or (Loss)
Recognized in
Income on
Derivative
(Ineffective
Portion and
Amount
Excluded from
Effectiveness
Testing)*
 
                       
Interest rate swaps:
                     
                       
   2011
  $ 165  
Interest expense
  $ (341 )
Interest expense
  $ 65  
   2010
  $ 2,404  
Interest expense
  $ (4,131 )
Interest expense
  $ (25 )
   2009
  $ 1,388  
Interest expense
  $ (4,037 )
Interest expense
  $ (40 )
                             
 
*
A portion of our second interest rate swap became over-hedged in 2009 since the outstanding debt balance associated with this swap was $49 million (floating rate debt of the swap was $50 million).