Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt

Schedule of total debt

The table below reflects the Company’s total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:

					Outstanding		Outstanding
					Balance as of		Balance as of
		Stated Interest	Payment	Term	March 31,		December 31,
(dollar amounts in thousands)	Inception Date	Rate (per annum)	Frequency	(years)	2020		2019
Credit Agreement
Revolving loans	9/13/2019	Variable	Variable	5	$	101,557	$	103,820
Equipment Notes
Equipment Note 1	9/28/2018	4.16%	Semi-annual	5		9,697		10,643
Equipment Note 2	9/28/2018	4.23%	Semi-annual	7		10,643		11,200
Equipment Note 3	12/31/2018	3.97%	Semi-annual	5		1,953		1,953
Equipment Note 4	12/31/2018	4.02%	Semi-annual	7		2,108		2,108
Equipment Note 5	12/31/2018	4.01%	Semi-annual	7		1,751		1,751
Equipment Note 6	6/25/2019	2.89%	Semi-annual	7		14,286		14,286
Equipment Note 7	6/24/2019	3.09%	Semi-annual	5		8,359		9,033
Equipment Note 8	12/27/2019	2.75%	Semi-annual	5		6,496		6,496
Equipment Note 9	12/24/2019	3.01%	Semi-annual	7		4,534		4,534
						59,827		62,004
Total debt						161,384		165,824
Less: current portion of long-term debt						(8,127)		(8,737)
Long-term debt					$	153,257	$	157,087

Schedule of remaining principal payments for long term obligations

The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Notes as of March 31, 2020:

	Future
	Equipment Notes
(in thousands)	Principal Payments
Remainder of 2020	$	6,560
2021		8,349
2022		8,645
2023		11,906
2024		8,923
2025		8,853
Thereafter		6,591
Total future principal payments	$	59,827
Less: current portion of equipment notes		(8,127)
Long-term principal obligations	$	51,700