Debt (Tables)

12 Months Ended

Dec. 31, 2014

DEBT [Abstract]

Schedule of Long-term Debt Instruments

The Company has long-term debt as follows:

	At December 31,
	2014		2013
In thousands
Revolving credit agreement	$	92,208	$	77,562
Term loan	80,000		90,000
Convertible notes	109,024		107,093
Total	281,232		274,655
Less current portion	10,000		10,000
Total excluding current portion	$	271,232	$	264,655

Schedule of Maturities of Long-term Debt

The aggregate annual maturities of long-term debt for each of the next five years are approximately as follows:

In thousands
2015	$	10,000
2016	10,000
2017	267,208
2018	—
2019	—

Schedule of Changes in Conversion Rate for Convertible Notes

11. DEBT (CONTINUED)

Convertible Notes - continued

The following table illustrates the conversion rate at each date:

	December 31, 2014		December 31, 2013
Convertible Notes
Conversion Rate per $1,000 principal amount (1)	29.6876		29.6292
Conversion Price (2)	$	33.68	$	33.75
Contingent Conversion Price (3)	$	43.79	$	43.88
Aggregate shares to be issued upon conversion (4)	3,414,074		3,407,357

⁽¹⁾ Represents the number of shares of Common Stock hypothetically issuable per $1,000 principal amount of Notes, subject to adjustments per the Convertible Note Indenture dated November 19, 2010. At the date the Company issued the Convertible Notes, the conversion rate initially equaled 29.4499 shares of common stock per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $33.96 per share of common stock). The conversion rate is subject to adjustment upon the occurrence of certain specified events, such as an increase in the dividend paid to shareholders.

⁽²⁾ Represents $1,000 divided by the conversion rate as of such date. The conversion price reflects the strike price of the embedded option within the Convertible Note. Were the Company's share price to exceed the conversion price at conversion the noteholders would be entitled to receive additional consideration either in cash, shares or a combination, the form of which is at the sole discretion of the Company.

⁽³⁾ Prior to May 15, 2017, the notes are convertible only in the following circumstances: (1) during any fiscal quarter commencing after April 1, 2011, and only during any such fiscal quarter, if the last reported sale price of our common stock was greater than or equal to 130% of the applicable conversion price for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on the last trading day of the previous fiscal quarter, (2) upon the occurrence of specified corporate transactions, or (3) during the five consecutive business-day period following any five consecutive trading-day period in which, for each day of that period, the trading price for the notes was less than 98% of the product of the last reported sale price of our common stock and the applicable conversion rate on such trading day. On and after May 15, 2017, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of the foregoing circumstances. Upon a change in control or termination of trading, holders of the notes may require us to repurchase all or a portion of their notes for cash at a repurchase price equal to 100% of the principal amount, plus any accrued and unpaid interest.

⁽⁴⁾ This represents the number of shares hypothetically issuable upon conversion of the principal balance of the Convertible Notes at each date; however, as the terms of the Convertible Notes require net share settlement, the aggregate principal amount of the notes will be paid in cash. Amounts due in excess of the principal, if any, may be settled in cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election.

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table illustrates the warrant price at each date:

	December 31, 2014		December 31, 2013
Warrants
Warrant Price	$	44.05	$	44.14

Schedule of Equity and Liability Components in Convertible Debt

The carrying amount of the equity component and the principal amount of the liability component, the unamortized discount, and the net carrying amount of the liability are as follows:

	December 31, 2014		December 31, 2013
In thousands
Principal amount of liability	$	115,000	$	115,000
Unamortized discount	5,976		7,907
Carrying value of liability	$	109,024	$	107,093
Equity component	$	13,329	$	13,329

Interest Expense Associated with Convertible Notes

Interest expense associated with the Convertible Notes consisted of the following:

	For the year ended December 31,
	2014		2013		2012
In thousands
Contractual coupon rate of interest	$	3,738	$	3,738	$	3,738
Accretion of convertible notes discount	1,931		1,833		1,738
Interest expense - convertible notes	$	5,669	$	5,571	$	5,476