Willdan(US:WLDN)2021-11-04 23:17Financial Position - As of October 1, 2021, the company had cash and cash equivalents of $4.8 million[215] - The company reported $77.5 million outstanding under its Term A Loan and $24.8 million under its delayed draw term loan as of October 1, 2021[217] Interest Rate Risk - A one percentage point increase in the effective interest rate would change the company's annual interest expense by approximately $1.0 million in 2021[221] - The company has entered into an interest rate swap agreement for $35.0 million notional amount, fixing the variable interest rate at 2.47%[220] - The company is subject to interest rate risk due to its variable rate debt, which includes a total of $102.3 million outstanding under its credit agreement[222] Loan Details - The Term A Loan amortizes quarterly in installments of $2.5 million, with a final payment due on June 26, 2024[219] Contract Types - 23% of the company's contracts are time-and-materials contracts, while 55% are unit-based contracts as of October 1, 2021[202] Performance Guarantees - The company has not experienced significant costs under performance guarantees associated with its contracts[207] General and Administrative Expenses - General and administrative expenses include costs related to marketing, management, and administrative personnel, which are expensed when incurred[210] Disclosure Controls - The company maintains effective disclosure controls and procedures as of October 1, 2021, according to management evaluations[226]