Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2012

Long-Term Debt [Abstract]

Long-term debt

	March 31,		December 31,
	2012		2011
	(In Thousands)
Working Capital Revolver Loan due 2012 (A)	$	—	$	—
Secured Term Loan (B)		71,250		72,188
Other, with a current weighted-average interest rate of 6.83%, most of which is secured by machinery, equipment and real estate		4,771		7,272
		76,021		79,460
Less current portion of long-term debt		4,773		4,935
Long-term debt due after one year	$	71,248	$	74,525

(A) Our wholly-owned subsidiary, ThermaClime, LLC (“ThermaClime”) and its subsidiaries (collectively, the “Borrowers”) are parties to a $50 million revolving credit facility (the “Working Capital Revolver Loan”) that provides for advances based on specified percentages of eligible accounts receivable and inventories for ThermaClime and its subsidiaries. See Note 14 – Subsequent Events for discussion concerning an amendment to this credit facility.

As of March 31, 2012, the Working Capital Revolver Loan required ThermaClime to meet certain financial covenants, including an EBITDA requirement of greater than $25 million; a minimum fixed charge coverage ratio of not less than 1.10 to 1; and a maximum senior leverage coverage ratio of not greater than 4.50 to 1. These requirements were measured quarterly on a trailing twelve-month basis and as defined in the agreement. ThermaClime was in compliance with those covenants for the twelve-month period ended March 31, 2012. The Working Capital Revolver Loan also required all collections on accounts receivable be made through a bank account in the name of the lender or their agent.

(B) On March 29, 2011, ThermaClime and certain of its subsidiaries entered into an amended and restated term loan agreement (the “Amended Agreement”), which amended ThermaClime’s existing term loan agreement (the “Original Agreement”). Pursuant to the terms of the Amended Agreement, the maximum principal amount of ThermaClime’s term loan facility (the “Secured Term Loan”) was increased from $50 million to $60 million. On May 26, 2011, the principal amount of the Secured Term Loan was increased an additional $15 million to $75 million pursuant to the terms of the Amended Agreement. The Amended Agreement also extended the maturity of the Secured Term Loan from November 2, 2012, to March 29, 2016. For financial reporting purposes, this transaction was considered a non-substantial modification of the Original Agreement.

Stated interest rate on secured term loan

	March 31, 2012
	Stated Interest Rate			Principal Balance
	(Dollars In Thousands)
Variable interest rate		3.47	%	$	47,500
Fixed interest rate		5.15	%		23,750
Weighted-average interest rate		4.03	%	$	71,250