Quarterly report pursuant to Section 13 or 15(d)

LONG TERM DEBT (Tables)

v3.5.0.2
LONG TERM DEBT (Tables)
9 Months Ended
Sep. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles
We have reclassified debt issue costs reported on our December 31, 2015 consolidated balance sheet as follows:
 
 
 
December 31, 2015
 
 
 
(Dollars in thousands)
 
 
 
As Reported
 
As Updated
ASU 2015-03
 
Balance Sheet Line Items:
 
 
 
 
 
 
 
Term Loan B
 
$
273,136
 
$
274,000
 
Less: Unamortized discount based on imputed interest rate of 4.78%
 
 
—
 
 
(864)
 
Less: Unamortized debt issuance costs based on imputed interest rate of 4.78%
 
 
—
 
 
(2,361)
 
Term Loan B net carrying value
 
 
273,136
 
 
270,775
 
Revolver
 
 
3,306
 
 
3,306
 
Capital leases and other loans
 
 
674
 
 
674
 
 
 
$
277,116
 
$
274,755
 
Less current portion
 
 
(5,662)
 
 
(5,662)
 
Long-term debt and capital lease obligations less unamortized discount and debt issuance costs, net of current portion
 
$
271,454
 
$
269,093
 
 
 
 
 
 
 
 
 
Deferred financing costs
 
$
2,512
 
$
151
 
Long-Term Debt
Long-term debt consisted of the following:
 
 
 
December 31, 2015
 
September 30, 2016
 
 
 
(Dollars in thousands)
 
Term Loan B principal amount
 
$
274,000
 
$
269,000
 
Less unamortized discount and debt issuance costs based on imputed interest rate of 4.78%
 
 
(3,225)
 
 
(2,615)
 
Term Loan B net carrying value
 
 
270,775
 
 
266,385
 
Revolver
 
 
3,306
 
 
1,069
 
Capital leases and other loans
 
 
674
 
 
595
 
 
 
 
274,755
 
 
268,049
 
Less current portion
 
 
(5,662)
 
 
(2,681)
 
 
 
$
269,093
 
$
265,368
 
Principle Repayment Requirements Under Long Term Agreements Outstanding
Principal repayment requirements under all long-term debt agreements and capital lease obligations outstanding at September 30, 2016 for each of the next five years and thereafter are as follows:
 
 
 
Amount
 
For the Twelve Months Ended September 30,
 
(Dollars in thousands)
 
2017
 
$
2,681
 
2018
 
 
3,108
 
2019
 
 
3,104
 
2020
 
 
258,988
 
2021
 
 
116
 
Thereafter
 
 
52
 
 
 
$
268,049
 
Term Loan B And Revolving Credit Facility [Member]  
Change in Rate Based on Leverage Ratio
 
 
 
 
Revolver Pricing
 
Pricing Level
 
Consolidated Leverage Ratio
 
Base Rate Loans
 
 
LIBOR Loans
 
1
 
Less than 3.00 to 1.00
 
 
1.250
%
 
 
2.250
%
2
 
Greater than or equal to 3.00 to 1.00 but less than 4.00 to 1.00
 
 
1.500
%
 
 
2.500
%
3
 
Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00
 
 
1.750
%
 
 
2.750
%
4
 
Greater than or equal to 5.00 to 1.00 but less than 6.00 to 1.00
 
 
2.000
%
 
 
3.000
%
5
 
Greater than or equal to 6.00 to 1.00
 
 
2.500
%
 
 
3.500
%
Term B Loan [Member]  
Repayments of Term Loan B
Date
 
Principal Paid
 
Unamortized Discount
 
 
 
(Dollars in thousands)
 
September 30, 2016
 
$
1,500
 
$
4
 
September 30, 2016
 
 
750
 
 
—
 
June 30, 2016
 
 
441
 
 
1
 
June 30, 2016
 
 
750
 
 
—
 
March 31, 2016
 
 
750
 
 
—
 
March 17, 2016
 
 
809
 
 
2
 
January 30, 2015
 
 
2,000
 
 
15