Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2012

Borrowings

Borrowings consist of the following:

(in thousands)	September 30, 2012			December 31, 2011
Term loan payable in quarterly installments with a final maturity of July 31, 2013	$	79,723		$	127,557
Capitalized lease obligations	—			15
Total	79,723			127,572
Less current portion	(79,723		)	(74,423		)
Long-term debt and capital lease obligations, net of current portion	$	—		$	53,149

Interest Expense on Term Loan and Amortization Related to Debt Financing Costs

The interest expense on the term loan and amortization related to debt financing costs were as follows:

	Three Months Ended
	September 30, 2012				September 30, 2011
(in thousands)	Interest Expense		Amortization		Interest Expense		Amortization
July 31, 2008 term loan	$	329	$	172	$	379	$	236

	Nine Months Ended
	September 30, 2012				September 30, 2011
(in thousands)	Interest Expense		Amortization		Interest Expense		Amortization
July 31, 2008 term loan	$	1,117	$	565	$	1,210	$	733

Future Principal Payments on Term Loan

The required future principal payments on the Company’s term loan as of September 30, 2012 are scheduled as follows:

(in thousands)
December 31, 2012	$	26,574
March 31, 2013	26,574
July 31, 2013 (maturity)	26,575
Term loan balance payable as of September 30, 2012	$	79,723