|3 Months Ended|
Mar. 29, 2020
|Debt Disclosure [Abstract]|
A summary of total debt outstanding at March 29, 2020 and December 31, 2019 is as follows:
There were no material changes to any of our debt arrangements during the quarter ended March 29, 2020.
Interest rates for borrowings under the revolver and term loan are the prime rate or LIBOR plus a margin. At March 29, 2020, all of the Company's borrowings under the revolver and term loan were under the LIBOR-based option. The interest rate for incremental borrowings at March 29, 2020 was LIBOR plus 1.5% (or 3.13%) for the LIBOR-based option. The fee payable on committed but unused portions of the revolver was 0.20% at March 29, 2020.
Total cash interest paid for the first quarter of 2020 and 2019 was $2.6 million and $6.5 million, respectively.
No definition available.
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef