10. Long-Term Debt

Long-term debt outstanding consists of the following (in thousands) as of:

	September 27, 2014		September 28, 2013
Term loan A		158,438		170,937
Other		1,576		2,213

Total long-term debt	$	160,014	$	173,150
Less current portion		19,077		12,929

Long-term portion	$	140,937	$	160,221

Under the Company's current credit facility ("Restated Credit Agreement"), the Company maintains senior secured credit facilities consisting of (i) an $800.0 million U.S. revolving credit facility, (ii) a $200.0 million alternative currency revolving credit facility, and (iii) a term loan A facility. The Restated Credit Agreement also provides for an increase option for an aggregate amount of up to $500.0 million.

The term loan A facility requires quarterly principal repayments. The term loan and revolving credit borrowings bear interest at a rate equal to an applicable margin plus, at our option, either (a) a eurodollar rate determined by reference to the cost of funds for deposits for the interest period and currency relevant to such borrowing, adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 0.50%, (2) the prime rate announced by Bank of America, N.A. from time to time and (3) the eurodollar rate plus 1.00%. The applicable margin under the Restated Credit Agreement with respect to term loan A and revolving credit facilities is a percentage per annum varying from 0.5% to 1.0% for base rate loans and 1.5% to 2.0% for eurodollar loans, based upon the Company's leverage ratio. The Company's average effective interest rate as of September 27, 2014 and September 28, 2013 was 3.7% and 3.5%, respectively, excluding amortization of deferred financing charges and including the effect of interest swap agreements. The Company also pays a commitment fee of 0.2% on the average daily unused portion of the revolving credit facilities.

All the assets of the Company and its domestic wholly-owned material subsidiaries are pledged as collateral under the Restated Credit Agreement. The Restated Credit Agreement contains customary negative covenants, subject to certain exceptions, including limitations on: liens; investments; indebtedness; merger and consolidations; asset sales; dividends and distributions or repurchases of the Company's capital stock; transactions with affiliates; certain burdensome agreements; and changes in the Company's lines of business.

The Restated Credit Agreement requires the Company to comply on a quarterly basis with a consolidated leverage ratio and a consolidated interest coverage ratio. As of September 27, 2014 and throughout fiscal year 2014, the Company was in compliance with these covenants. In addition, the Restated Credit Agreement contains certain mandatory prepayment requirements and customary events of default.

As of September 27, 2014 and September 28, 2013, outstanding letters of credit under the Restated Credit Agreement, totaled $7.8 million and $5.0 million, respectively. No amounts have been drawn against the letters of credit as of September 27, 2014 and September 28, 2013.

In connection with the Restated Credit Agreement, the Company incurred debt issuance costs of $46.0 million which were deferred and included in Other Long-Term Assets on the Consolidated Balance Sheet and amortized as interest expense over the life of the respective loan using a method that approximates the effective interest rate method.

The Company enters into interest rate swap agreements to limit a portion of its exposure to variable interest rates by entering into interest rate swap agreements which effectively fix the rates. In accordance with the interest rate swap agreements and on a monthly basis, interest expense is calculated based on the floating 30-day Libor rate and the fixed rate. If interest expense as calculated is greater based on the 30-day Libor rate, the interest rate swap counterparty pays the difference to the Company; if interest expense as calculated is greater based on the fixed rate, the Company pays the difference to the interest rate swap counterparty. See Note 11, Derivative Financial Instruments.

Below is a summary of the Company's derivative instruments in effect as of September 27, 2014 mitigating interest rate exposure of variable-rate borrowings (in thousands):

Derivative Instrument	Hedged Transaction	Notional Amount of Underlying Debt		Fixed Rate Received			Maturity (Fiscal Year)
Swap	30-day Libor		30,000		2.54	%		2016
Swap	30-day Libor		50,000		2.54	%		2016
Swap	30-day Libor		20,000		2.54	%		2016
Swap	30-day Libor		30,000		2.54	%		2016

		$	130,000

In fiscal years 2014, 2013 and 2012 the Company paid approximately $3.2 million, $3.4 million and $4.7 million, respectively, in additional interest expense pursuant to the interest rate swap agreements.

Maturities

Scheduled maturities of long-term debt are as follows (in thousands):

Fiscal Year
2015		19,077
2016		140,022
2017		348
2018		364
2019		203

	$	160,014