Long-Term Debt and Short-Term Borrowings (Tables)

9 Months Ended

Sep. 30, 2021

Long-Term Debt and Short-Term Borrowings

Schedule of Long-term debt and short-term borrowings

Long-term debt and short-term borrowings are summarized as follows:

	September 30, 2021		December 31, 2020
	(in thousands, except payment data)
Mortgage notes	$	24,478	$	24,482
Senior notes		90,000		100,000
Unsecured term note due February 2025, with monthly principal and interest payments of $39,110, bearing interest at 5.75%		1,452		1,735
Convertible senior notes		100,050		100,050
Payroll Protection Program loans		3,426		3,424
Revolving credit agreement		33,000		—
Debt issuance costs		(4,083)		(3,684)
Total debt, net of debt issuance costs		248,323		226,007
Less current maturities, net of issuance costs		11,712		10,548
Less debt discount		—		22,423
Long-term debt	$	236,611	$	193,036
Short-term borrowings		49,796		87,194
Total debt and short-term borrowings, net of issuance costs	$	298,119	$	313,201

Summary of cumulative effect adjustment upon adoption

	Balance at
	December 31,		Cumulative		Balance at
	2020		adjustment		January 1, 2021
	(in thousands)
Long-term debt	$	193,036	$	21,393	$	214,429
Deferred income taxes		33,429		(5,584)		27,845
Capital in excess of par		153,529		(16,511)		137,018
Retained earnings		331,897		702		332,599