Long-Term Debt (Detail Textuals) $ in Millions |
12 Months Ended | ||||||
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Dec. 31, 2016
USD ($)
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Revolving credit facility | |||||||
Line of Credit Facility [Line Items] | |||||||
Amount of credit facility | $ 125.0 | ||||||
Percentage of ownership | 100.00% | ||||||
Term of line of credit facility | 5 years | ||||||
Loan origination fees and other debt related costs | $ 3.0 | ||||||
Non-current other assets net | $ 0.2 | ||||||
Description of variable rate basis of debt instrument | Revolving loans under the amended revolving credit facility bear interest at one of the following two rates at the Company’s election:
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Borrowing base of line of credit | $ 125.0 | ||||||
Borrowing capacity description | Company amended the revolving credit facility to (1) establish a borrowing base to be the lesser of (a) $125 million or (b) the difference between (i) a specified percentage (ranging from 70% to 80%) of eligible accounts receivable less (ii) the amount of any outstanding letters of credit, (2) secure payment obligations under the credit facility with a security interest in the consolidated accounts receivable, and (3) replace the financial covenants related to minimum leverage and debt service coverage ratios with a covenant to maintain a minimum tangible net worth of not less than $700 million.
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Minimum tangible net worth | $ 700.0 | ||||||
Revolving credit facility | Minimum | |||||||
Line of Credit Facility [Line Items] | |||||||
Fees on unused portion of facility | 0.225% | ||||||
Account receivable percentage for line of credit determination | 70.00% | ||||||
Revolving credit facility | Maximum | |||||||
Line of Credit Facility [Line Items] | |||||||
Fees on unused portion of facility | 0.325% | ||||||
Account receivable percentage for line of credit determination | 80.00% | ||||||
Revolving credit facility | Option 1 A | |||||||
Line of Credit Facility [Line Items] | |||||||
Basis spread on variable rate | 0.50% | ||||||
Description of reference rate basis | Federal Funds Rate | ||||||
Revolving credit facility | Option 1 B | |||||||
Line of Credit Facility [Line Items] | |||||||
Description of reference rate basis | Prime rate | ||||||
Revolving credit facility | Option 1 C | |||||||
Line of Credit Facility [Line Items] | |||||||
Basis spread on variable rate | 1.00% | ||||||
Description of reference rate basis | Eurodollar Rate | ||||||
Revolving credit facility | Option 1 | Minimum | |||||||
Line of Credit Facility [Line Items] | |||||||
Basis spread on variable rate | 0.125% | ||||||
Revolving credit facility | Option 1 | Maximum | |||||||
Line of Credit Facility [Line Items] | |||||||
Basis spread on variable rate | 1.125% | ||||||
Letter of credit subfacility | |||||||
Line of Credit Facility [Line Items] | |||||||
Amount of credit facility | $ 50.0 | ||||||
Letter of swingline subfacility | |||||||
Line of Credit Facility [Line Items] | |||||||
Amount of credit facility | $ 35.0 |