Debt and Credit Arrangements (Tables)

12 Months Ended

Dec. 31, 2017

Debt and Credit Arrangements

Schedule of Long-Term Debt, Net

Long-term debt, net consists of the following (in thousands):

		December 31,		December 25,
		2017		2016
Outstanding debt	$	470,000	$	300,575
Unamortized debt issuance costs		(3,435)		(755)
Current portion of long-term debt		(20,000)		-
Total long-term debt, less current portion, net	$	446,565	$	299,820

Schedule of Interest Rate Swap Agreements

As of December 31, 2017, we have the following interest rate swap agreements, including three forward starting swaps executed in 2015 that will become effective in 2018 upon expiration of the two existing swaps for $125 million.  In addition, we executed four additional interest rate swaps in 2017 for $275 million, which became effective on January 30, 2018.

Effective Dates	Floating Rate Debt			Fixed Rates
July 30, 2013 through April 30, 2018	$	75	million	1.42	%
December 30, 2014 through April 30, 2018	$	50	million	1.36	%
April 30, 2018 through April 30, 2023	$	55	million	2.33	%
April 30, 2018 through April 30, 2023	$	35	million	2.36	%
April 30, 2018 through April 30, 2023	$	35	million	2.34	%
January 30, 2018 through August 30, 2022	$	100	million	1.99	%
January 30, 2018 through August 30, 2022	$	75	million	1.99	%
January 30, 2018 through August 30, 2022	$	75	million	2.00	%
January 30, 2018 through August 30, 2022	$	25	million	1.99	%

Schedule of Location and Amounts of Swaps in the Accompanying Consolidated Financial Statements

The following table provides information on the location and amounts of our swaps in the accompanying consolidated financial statements (in thousands):

	Interest Rate Swap Derivatives
	Fair Value		Fair Value
	December 31,		December 25,
Balance Sheet Location	2017		2016
Other current and long-term assets	$	651	$	—
Other current and long-term liabilities	$	—	$	770

Schedule of Effect of Derivative Instruments on the Accompanying Consolidated Financial Statements

The effect of derivative instruments on the accompanying consolidated financial statements is as follows (in thousands):

			Location of Gain		Amount of Gain
Derivatives -			or (Loss)		or (Loss)		Total Interest Expense
Cash Flow	Amount of Gain		Reclassified		Reclassified		on Consolidated
Hedging	or (Loss) Recognized		from AOCL into		from AOCL into		Statements of
Relationships	in AOCL on Derivative		Income		Income		Income
Interest rate swaps:
2017	$	891		Interest expense	$	(421)	$	(11,283)
2016	$	940		Interest expense	$	(1,161)	$	(7,397)
2015	$	(1,163)		Interest expense	$	(1,563)	$	(5,676)