Subsequent Event

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

As described in Note C above, on April 25, 2012, the Company amended and restated its five-year $200,000 Senior Credit Facility with a five-year $375,000 senior credit facility (the "Restated Credit Facility") which consists of a $75,000 term loan (the "Term Loan") and a $300,000 revolving credit facility (the "Revolving Credit Facility") and extended it two years with a scheduled maturity date of April 25, 2017. The Restated Credit Facility also includes an expansion option permitting the Company to add up to an aggregate of $150,000 in term loans or revolving credit commitments from its existing and potential new lenders. Loans under the Restated Credit Facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio. Under the terms of the Restated Credit Facility, 5% of the $75,000 Term Loan is payable annually in quarterly installments over the first three years, 10% is payable annually in quarterly installments over the final two years, and the remaining balance is due on April 25, 2017. Significant financial covenants for the Restated Credit Facility include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior Senior Credit Facility.