Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of debt

Long-term debt consists of the following obligations:

(in thousands)	December 31, 2019			January 1, 2019 *
Credit Agreement – revolver(1)	$	—		$	—
Bridge Term Loan – term loan payable in quarterly installments of principal, plus interest through April 2019(1)	—			7,736
Credit Agreement – term loan payable in quarterly installments of principal, plus interest through March 2020(1)	—			14,335
2019 Revolving Credit Facility	—			—
2019 Refinancing Term Loan – term loan payable in quarterly installments of principal, (commencing in September 2020) plus interest through April 2022	41,000			—
2019 Refinancing Term Loan embedded derivative	—			—
Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 4.95% to 6.2% through 2024	6,585			5,272
Total debt	$	47,585		$	27,343
Less - Current portion of long-term debt	(4,425		)	(3,203		)
Less - Unamortized discount and debt issuance costs	(4,292		)	(461		)
Long-term debt	$	38,868		$	23,679

* See Note 3 for the impact of adoption of new accounting standards.

Schedule of maturities of long-term debt

Maturities of long-term debt and finance leases at December 31, 2019 are as follows:

(in thousands)	Year ending December 31
2020	$	4,425
2021	5,985
2022	36,557
2023	615
2024	3
Total	$	47,585

Senior leverage ratio covenant

The following is a summary of the additional margin and commitment fees payable on the prior revolving credit commitment:

Level	Senior Leverage Ratio	Additional Margin for Base Rate loans		Additional Margin for Libor Rate loans		Commitment Fee
I	Greater than or equal to 2.50 to  1.00	3.00	%	4.00	%	0.50	%
II	Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00	2.75	%	3.75	%	0.50	%
III	Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00	2.50	%	3.50	%	0.50	%
IV	Less than 1.50 to 1.00	2.25	%	3.25	%	0.50	%