Note F—Long-Term Debt

Debt that will mature within one year consisted of the following:

In June 2000, we entered into a domestic credit agreement with a 364-day term and current borrowing rate of 0.500% over the London Interbank Offered Rate (“ LIBOR”). This agreement provides us with a working capital line totaling $300.0 million and contains restrictive covenants that are similar to our five-year domestic facility described below. As of December 30, 2000, we had outstanding borrowings of $146.0 million under this facility, which had an average effective interest rate of 7.996%.

Our 1993 Liquid Yield Option Notes (“ LYONs®") (described in more detail in Note G) had an option feature that allowed each holder of a note to require us, on November 1, 2000, to purchase the LYONsT from them at the issue price plus accrued original issue discount. The majority of the bondholders exercised this option, and 342.1 million out of 345.0 million in outstanding bonds were tendered. We paid the holders $249.2 million in cash, funded through our domestic credit facility. We have classified the remaining bonds as long-term on our December 30, 2000 balance sheet.

Long-term debt consisted of the following:

Our five-year domestic credit facility provides us with a working capital line and letters of credit capacity totaling $300.0 million. As of December 30, 2000, we had outstanding borrowings of $243.6 million under this line of credit, as well as letters of credit totaling $49.5 million. Our five-year agreement was entered into in February 1998 and currently has a borrowing rate of 0.475% over LIBOR. At December 30, 2000, the average effective interest rate on borrowings under this facility was 7.001%.

This credit facility expires in February 2003 and contains certain restrictive covenants relating to various financial statement ratios.

In July 1999, we entered into term loan and revolving credit agreements with several Japanese banks (the “yen facilities”) to provide financing for our operating and expansion activities in Japan. The yen facilities provide for maximum aggregate borrowings of ¥9.76 billion (the equivalent of $85.3 million at December 30, 2000) at an interest rate of 0.875% over the Tokyo Interbank Offered Rate (“ TIBOR”). These facilities are available to us until July 2002. The yen facilities loan agreements are tied to the covenants in our domestic facilities described earlier. As of December 30, 2000, we had outstanding yen borrowings equivalent to $64.0 million under these yen facilities, which had an average effective interest rate of 1.252%. Effective as of October 28, 1999, we entered into a yen interest rate swap with a financial institution for a principal amount equivalent to $21.0 million at December 30, 2000 in order to hedge against the volatility of the interest payments on a portion of our yen borrowings. The terms of the swap specify that we pay an interest rate of 0.700% and receive TIBOR. The swap will mature in July 2002.

Under our capital lease agreements, we are required to make certain monthly, quarterly or annual lease payments through 2020. Our aggregate minimum capital lease payments for the next five years and beyond, with their present value as of December 30, 2000, are as follows:

Note G—Zero Coupon, Convertible Subordinated Notes

On December 11, 1992, we issued to the public LYONs® with principal amounts totaling $316.3 million and proceeds of $150.8 million (the “1992 LYONs®"). We issued each 1992 LYON® for a price of $476.74, and we are not required to make periodic interest payments on the notes. Our 1992 LYONs® will mature on December 11, 2007 at $1,000 per LYON®, representing a yield to maturity, computed on a semi-annual bond equivalent basis, of 5%.