Debt | Debt The following summarizes the Company’s long-term debt as of January 1, 2017 and March 31, 2016 : January 1, 2017 March 31, 2016 Principal Unamortized Issuance Costs Principal Unamortized Issuance Costs 5.00% Senior Notes due 2023 $ 300,000 $ 3,902 $ 300,000 $ 4,370 2011 Credit Facility, due 2018 305,800 1,336 312,500 1,909 $ 605,800 $ 5,238 $ 612,500 $ 6,279 Less: Unamortized issuance costs 5,238 6,279 Long-term debt, net of unamortized issuance costs $ 600,562 $ 606,221 5.00% Senior Notes The Company's $300,000 5.00% Senior Notes due 2023 bear interest at a rate of 5.00% per annum. Interest is payable semiannually in arrears on April 30 and October 30 of each year, commencing on October 30, 2015. The Notes will mature on April 30, 2023, unless earlier redeemed or repurchased in full. The Notes are unsecured and unsubordinated obligations of the Company. The Notes are fully and unconditionally guaranteed (the “Guarantees”), jointly and severally, by each of its subsidiaries that are guarantors under the 2011 Credit Facility (the “Guarantors”). The Guarantees are unsecured and unsubordinated obligations of the Guarantors. 2011 Credit Facility The Company is party to a $500,000 senior secured revolving credit facility and a $150,000 senior secured incremental term loan (the “Term Loan”) that matures on September 30, 2018, comprising the “2011 Credit Facility”. The quarterly installments payable on the Term Loan were $1,875 beginning June 30, 2015 and $3,750 beginning June 30, 2016 with a final payment of $108,750 on September 30, 2018. The 2011 Credit Facility may be increased by an aggregate amount of $300,000 in revolving commitments and/or one or more new tranches of term loans, under certain conditions. Both revolving loans and the Term Loan under the 2011 Credit Facility bear interest, at the Company's option, at a rate per annum equal to either (i) the London Interbank Offered Rate (“LIBOR”) plus between 1.25% and 1.75% (currently 1.25% and based on the Company's consolidated net leverage ratio) or (ii) the Base Rate (which is the highest of (a) the Bank of America prime rate, and (b) the Federal Funds Effective Rate) plus between 0.25% and 0.75% (based on the Company’s consolidated net leverage ratio). Obligations under the 2011 Credit Facility are secured by substantially all of the Company’s existing and future acquired assets, including substantially all of the capital stock of the Company’s United States subsidiaries that are guarantors under the credit facility and 65% of the capital stock of certain of the Company’s foreign subsidiaries that are owned by the Company’s United States subsidiaries. The current portion of the Term Loan of $15,000 is classified as long-term debt as the Company expects to refinance the future quarterly payments with revolver borrowings under its 2011 Credit Facility. As of January 1, 2017 , the Company had $174,550 outstanding in revolver borrowings and $131,250 under its Term Loan borrowings. Short-Term Debt As of January 1, 2017 and March 31, 2016 , the Company had $35,879 and $22,144 , respectively, of short-term borrowings. The weighted-average interest rate on these borrowings was approximately 7% and 8% at January 1, 2017 and March 31, 2016 , respectively. Letters of Credit As of January 1, 2017 and March 31, 2016 , the Company had $4,001 and $2,693 , respectively, of standby letters of credit. Debt Issuance Costs Amortization expense, relating to debt issuance costs, included in interest expense was $347 and $343 , respectively, during the quarters ended January 1, 2017 and December 27, 2015 and $1,041 and $1,117 for the nine months ended January 1, 2017 and December 27, 2015 , respectively. Debt issuance costs, net of accumulated amortization, totaled $5,238 and $ 6,279 , respectively, at January 1, 2017 and March 31, 2016 . Available Lines of Credit As of January 1, 2017 and March 31, 2016 , the Company had available and undrawn, under all its lines of credit, $451,267 and $472,187 , respectively, including $127,742 and $144,112 , respectively, of uncommitted lines of credit as of January 1, 2017 and March 31, 2016 |