LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

6 Months Ended

Jun. 30, 2013

LONG-TERM DEBT AND FINANCING ARRANGEMENTS

	June 30		December 31
	2013		2012
	(in thousands)

Term Loan (interest rate of 1.7% at June 30, 2013)	$	90,000	$	95,000
Notes payable (weighted average interest rate of 3.0% at June 30, 2013)	30,142		37,756
Capital lease obligations (weighted average interest rate of 4.4% at June 30, 2013)	13,834		23,229
	133,976		155,985
Less current portion	37,030		43,044
Long-term debt, less current portion	$	96,946	$	112,941

Scheduled maturities of long-term debt obligations

Scheduled maturities of long-term debt obligations as of June 30, 2013 were as follows:

			Term		Notes		Capital Lease
	Total		Loan(1)		Payable		Obligations(2)
	(in thousands)

Due in one year or less	$	39,651	$	14,026	$	16,728	$	8,897
Due after one year through two years	31,727		16,489		12,741		2,497
Due after two years through three years	23,102		19,083		1,586		2,433
Due after three years through four years	46,605		46,389		—		216
Due after four years through five years	222		—		—		222
Due after five years	365		—		—		365
Total payments	141,672		95,987		31,055		14,630
Less amounts representing interest	7,696		5,987		913		796
Long-term debt	$	133,976	$	90,000	$	30,142	$	13,834

(1) The future interest payments included in the scheduled maturities due under the Term Loan are calculated using variable interest rates based on the LIBOR swap curve, plus the anticipated applicable margin (see Term Loan within the Financing Arrangements section of this Note).

(2) Minimum payments of capital lease obligations include maximum amounts due under rental adjustment clauses contained in the capital lease agreements.

Schedule of assets securitized by notes payable or held under capital leases

	June 30		December 31
	2013		2012
	(in thousands)

Land and structures (terminals)	$	1,794	$	1,794
Revenue equipment	73,590		93,004
Service, office, and other equipment	1,503		1,813
	76,887		96,611
Less accumulated amortization(1)	30,519		35,183
Net assets securitized by notes payable or held under capital leases	$	46,368	$	61,428

(1) Amortization of assets under capital leases and notes payable is included in depreciation expense.