Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.6.0.2
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2016
Long-Term Debt  
Summary of key terms of Credit Agreement

The following table summarizes the key terms of the Credit Agreement, dollars in thousands:

 

 

 

 

 

 

 

 

 

Senior secured term loan facility (original borrowing)

 

 

 

 

$
200,000

 

Additional term loan and/or revolver capacity available under incremental facility (a)

 

 

 

 

$
100,000

 

Interest rate as of December 31, 2016

 

 

 

 

 
2.11

%

Scheduled maturity date

 

 

 

 

 

6/30/2020

 

 

 

 

 

 

 

 

 

Senior secured revolving credit facility ("Revolving Facility")

 

 

 

 

$
125,000

 

Sublimit for issuance of letters of credit under Revolving Facility (b)

 

 

 

 

$
100,000

 

Sublimit for swingline loans under Revolving Facility (b)

 

 

 

 

$
15,000

 

(a)

Subject to certain conditions (including existing or new lenders providing commitments in respect of such additional borrowing capacity).

(b)

Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the Revolving Facility.

 

Schedule of remaining principal payments of debt

The following table sets forth our principal payments for the following four years, as of December 31, 2016, dollars in thousands:

 

 

 

 

 

 

 

 

 

    

 

 

 

Future Principal

 

 

 

 

 

Payments

Schedule of Debt Maturity by Years:

 

 

 

 

 

 

2017

 

 

 

 

$
20,000

2018

 

 

 

 

 
20,000

2019

 

 

 

 

 
25,000

2020

 

 

 

 

 
115,000

Total principal maturities

 

 

 

 

$
180,000

 

Reconciliation of principal balance of our long-term debt

The following table reconciles the principal balance of our long-term debt to our Consolidated Balance Sheets as of December 31, 2016 and 2015, dollars in thousands:

 

 

 

 

 

 

 

 

 

 

 

 

    

2016

 

2015

Current portion of long-term debt

 

$
20,000

 

$
15,000

Long-term portion of long-term debt

 

 
160,000

 

 
180,000

Unamortized debt issuance costs

 

 
(1,200)

 

 
(1,543)

Long-term debt

 

$
178,800

 

$
193,457

 

Schedule of availability under the Revolving Facility

The following table summarizes our availability under the Revolving Facility, in thousands:

 

 

 

 

 

 

 

 

 

 

As of December 31,

 

    

2016

 

2015

Revolving Facility

 

$
125,000

 

$
125,000

Less: standby letters of credit

 

 
(49,080)

 

 
(55,096)

Capacity under Revolving Facility

 

$
75,920

 

$
69,904