FY2021 10-K Document - FINAL 11 15 21 - Flipbook - Page 59
Table of Contents
Maturities of long-term debt are:
2022
Long-term debt maturities
$
2023
80,365 $
915 $
2024
2025
7,000 $
2026
321,886 $
Thereafter
— $
500,000
At October 2, 2021, we had pledged assets with a net book value of $1,928,138 as security for long-term debt.
At October 2, 2021, we had $785,638 of unused short and long-term borrowing capacity, including $745,701 from the
U.S. revolving credit facility.
Commitment fees are charged on some of these arrangements and on the U.S. revolving credit facility based on a
percentage of the unused amounts available and are not material.
Note 10 - Other Accrued Liabilities
Other accrued liabilities consists of:
October 2,
2021
$
58,857
54,146
26,602
12,908
59,492
$
212,005
Contract reserves
Employee benefits
Warranty accrual
Accrued income taxes
Other
Other accrued liabilities
October 3,
2020
$
72,412
40,734
27,707
11,785
67,850
$
220,488
Activity in the warranty accrual is summarized as follows:
Warranty accrual at beginning of period
Additions from acquisitions
Warranties issued during current period
Adjustments to pre-existing warranties
Reductions for settling warranties
Foreign currency translation
Warranty accrual at end of period
$
$
2021
27,707 $
990
13,937
(519)
(15,630)
117
26,602 $
2020
28,061 $
767
14,820
(1,779)
(14,656)
494
27,707 $
2019
25,537
—
20,024
(952)
(16,083)
(465)
28,061
Note 11 - Derivative Financial Instruments
We principally use derivative financial instruments to manage foreign exchange risk related to foreign operations and
foreign currency transactions and interest rate risk associated with long-term debt. We enter into derivative financial
instruments with a number of major financial institutions to minimize counterparty credit risk.
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