Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

In summary, principal balances under our long-term debt as of September 30, 2016 and December 31, 2015, consisted of the following (in thousands):

	September 30, 2016			December 31, 2015
Term loan	$	147,500		$	64,962
Revolving credit loans	180,913			142,631
Less debt issuance costs	(653		)	—
Total long-term debt	327,760			207,593
Less current portion	10,000			10,000
Long-term portion	$	317,760		$	197,593

Schedule of Certain Financial Covenants

The Second Amended Credit Agreement requires that we maintain certain financial covenants, as follows:

		Covenant Requirement
Consolidated Total Leverage Ratio (1)
	Through March 31, 2017	4.5 to 1.0
	April 1, 2017 through June 30, 2017	4.0 to 1.0
	July 1, 2017 through December 31, 2017	3.75 to 1.0
	January 1, 2018 through March 31, 2018	3.5 to 1.0
	April 1, 2018 and thereafter	3.25 to 1.0
Consolidated EBITDA (2)		1.25 to 1.0
Consolidated Net Income (3)		$—
Facility Capital Expenditures (4)		$30 million
(1)	Maximum Consolidated Total Leverage Ratio (as defined in the Second Amended Credit Agreement) as of any fiscal quarter end.
(2)	Minimum ratio of Consolidated EBITDA (as defined in the Second Amended Credit Agreement and adjusted for certain expenditures) to Consolidated Fixed Charges (as defined in the Second Amended Credit Agreement) for any period of four consecutive fiscal quarters.
(3)	Minimum level of Consolidated Net Income (as defined in the Second Amended Credit Agreement) for certain periods, and subject to certain adjustments.
(4)	Maximum level of the aggregate amount of all Facility Capital Expenditures (as defined in the Second Amended Credit Agreement) in any fiscal year.

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt as of September 30, 2016, are as follows (in thousands):

Years Ending	Future Minimum
December 31	Principal Payments
2016	2,500
2017	10,000
2018	12,500
2019	15,000
2020	17,500
Thereafter	270,913
Total future minimum principal payments	$	328,413