NOTES PAYABLE AND LONG-TERM DEBT (Details Textual) - USD ($) |
1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Mar. 17, 2016 |
Sep. 30, 2013 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Mar. 14, 2013 |
|
Interest Expense, Debt | $ 141,000 | $ 139,000 | $ 283,000 | $ 279,000 | ||||||
Amortization of Financing Costs | $ 318,000 | 314,000 | ||||||||
Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Covenant Terms | With respect to financial covenants, the credit agreement includes a minimum interest coverage ratio, which started at 1.50 to 1.0 and stepped up to 2.50 to 1.0 and a maximum leverage ratio, which started at 6.75 to 1.0 and steps down to 5.75 to 1.0 by 2017. The credit agreement also includes other negative covenants that are customary for credit facilities of this type, including covenants that, subject to exceptions described in the credit agreement, restrict the ability of Salem and its subsidiary guarantors | |||||||||
Interest Coverage Ratio | 3.33% | 3.33% | 3.33% | 2.50% | ||||||
Term B Loan [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 271,200,000 | $ 271,200,000 | $ 271,200,000 | $ 300,000,000 | ||||||
Senior Notes, Noncurrent | 298,500,000 | |||||||||
Interest Expense, Debt | $ 52,000 | 47,000 | $ 104,000 | 93,000 | ||||||
Amortization of Financing Costs | $ 3,400 | $ 6,700 | ||||||||
Floor Rate On Term Loan | 1.00% | |||||||||
Line Of Credit Default Rate Above Applicable Interest Rate | 2.00% | 2.00% | 2.00% | |||||||
Proceeds from Issuance of Debt | $ 60,000,000 | |||||||||
Debt Instrument, Periodic Payment, Principal | $ 750,000 | |||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.51% | 4.51% | 4.51% | |||||||
Line of Credit Facility, Expiration Period | 7 years | |||||||||
Debt Instrument Interest Additional Interest Above Prime Rate | 2.50% | |||||||||
Debt Instrument Interest Additional Interest Above London Interbank Offered Rate | 3.50% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.78% | 4.78% | 4.78% | 4.78% | ||||||
Revolver [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,800,000 | $ 1,800,000 | $ 1,800,000 | $ 25,000,000 | ||||||
Amortization of Financing Costs | $ 35,000 | $ 17,000 | $ 35,000 | $ 17,000 | ||||||
Debt Instrument Interest Additional Interest Above Base Rate | 2.00% | |||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||||||
Line of Credit Facility, Expiration Period | 5 years | |||||||||
Debt Instrument Interest Additional Interest Above London Interbank Offered Rate | 3.00% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.58% | 4.58% | 4.58% | |||||||
Deferred Financing Cost Amortization Period | 5 years |