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Long-Term Obligations (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
Long-term obligations consisted of the following at December 31, 2014 and 2013 (in thousands):
 
 
 
 
2014
 
2013
Senior term notes
 
Notes payable, maturing in 2019, secured by assets, variable interest rate (1.67% and 1.92% at 2014 and 2013, respectively)
 
600,000

 
556,914

Revolving credit
 
Revolving line of credit, maturing in 2019, secured by assets, variable interest rate (1.67% at 2014)
 
135,000

 

Secured seller notes
 
Notes payable matures in 2015, secured by assets and stock of certain subsidiaries, with interest rate of 10.0%
 
230

 
230

 
 
Total debt obligations
 
735,230

 
557,144

 
 
Capital lease obligations and other debt
 
59,538

 
62,501

 
 
 
 
794,768

 
619,645

 
 
Less — current portion
 
(19,356
)
 
(51,087
)
 
 
 
 
$
775,412

 
$
568,558

Schedule of maturities of long-term debt
The annual aggregate scheduled maturities of our long-term obligations for the five years subsequent to December 31, 2014 are presented below (in thousands):
 
 
Debt
Obligations
 
Capital Lease
Obligations
 
Total
2015
 
$
15,230

 
$
4,075

 
$
19,305

2016
 
30,000

 
3,137

 
33,137

2017
 
37,500

 
3,443

 
40,943

2018
 
52,500

 
3,732

 
56,232

2019
 
600,000

 
3,834

 
603,834

Thereafter
 

 
41,317

 
41,317

Total
 
$
735,230

 
$
59,538

 
$
794,768

Summary of Leverage Ratio in effect from time to time
Each of the aforementioned margins remain applicable until the date of delivery of the compliance certificate and the financial statements, for the period ended December 31, 2014, at which time the applicable margin will be determined by reference to the leverage ratio in effect from time to time as set forth in the following table:

Pricing Tier
 
Consolidated Leverage Ratio
 
Applicable Margin for Eurodollar Loans/Letter of Credit Fees
 
Applicable Margin for Base Rate Loans
 
Commitment Fee
1
 
≥ 4.00:1.00
 
2.25
%
 
1.25
%
 
0.45
%
2
 
< 4.00:1.00 and ≥ 3.25:1.00
 
2.00
%
 
1.00
%
 
0.40
%
3
 
< 3.25:1.00 and ≥ 2.50:1.00
 
1.75
%
 
0.75
%
 
0.35
%
4
 
< 2.50:1.00 and ≥ 1.75:1.00
 
1.50
%
 
0.50
%
 
0.30
%
5
 
< 1.75:1.00 and ≥ 1.00:1.00
 
1.25
%
 
0.25
%
 
0.25
%
6
 
< 1.00:1.00
 
1.00
%
 
%
 
0.25
%
Scheduled principal payments for senior term notes
The following table sets forth the scheduled principal payments for the "New Senior Credit Facility" (in thousands):

 
 
2015
 
2016
 
2017
 
2018
 
2019
Senior term notes
 
$
15,000

 
$
30,000

 
$
37,500

 
$
52,500

 
$
465,000

Revolving loans
 

 

 

 

 
135,000

 
 
$
15,000

 
$
30,000

 
$
37,500

 
$
52,500

 
$
600,000