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Other long-term debt
3 Months Ended
Mar. 31, 2019
Other longterm debt [Abstract]  
Debt Disclosure [Text Block]
Note 5. Other long-term debt
The Company maintains a facility financing package with borrowings of $95,000 and a maturity date of December 14, 2023, and a strategic capital loan with borrowings of $25,000 and a maturity date of June 14, 2024. Government loan balances include forgiveness clauses based upon capital spending and headcount increases at the noted manufacturing locations.
Other long-term debt as of March 31, 2019 and December 31, 2018 consisted of the following:
 
 
 
March 31, 2019
 
 
December 31, 2018
 
 
 
Interest

Rate
 
 
Balance
 
 
Interest

Rate
 
 
Balance
 
Term A loans – 2018 financing package
 
 
4.75
%
 
$
69,000
 
 
 
4.69
%
 
$
69,000
 
Real estate term loan – 2018 financing package
 
 
4.75
%
 
 
26,000
 
 
 
4.69
%
 
 
26,000
 
Strategic capital loan
 
 
11.59
%
 
 
25,000
 
 
 
11.78
%
 
 
25,000
 
Wisconsin Economic Development Corporate (Neillsville)
 
 
2.00
%
 
 
299
 
 
 
2.00
%
 
 
406
 
Smyth County, Virginia
 
 
0.00
%
 
 
700
 
 
 
0.00
%
 
 
700
 
Total principal outstanding
 
 
 
 
 
 
120,999
 
 
 
 
 
 
 
121,106
 
Less: Unamortized debt issuance costs
 
 
 
 
 
 
(781
)
 
 
 
 
 
 
(825
)
Less: Current maturities
 
 
 
 
 
 
(10,549
)
 
 
 
 
 
 
(8,606
)
Long-term debt, less current maturities, net
 
 
 
 
 
$
109,669
 
 
 
 
 
 
$
111,675
 
Scheduled principal payment of debt subsequent to March 31, 2019 are as follows:
 
Year ending December 31,
 
 
 
2019 (remainder)
 
$
8,499
 
2020
 
 
8,200
 
2021
 
 
8,200
 
2022
 
 
8,200
 
2023
 
 
62,900
 
Thereafter
 
 
25,000
 
Total
 
$
120,999
 
The Company was in compliance with all financial covenants of its long term debt agreements as of March 31, 2019.