LONG-TERM OBLIGATIONS

3 Months Ended

Mar. 31, 2013

3. LONG-TERM OBLIGATIONS

Long-term debt consisted of the following for the periods indicated (amounts in millions):

			March 31, 2013		December 31, 2012
Senior Notes:
	$35.0 million Series A Notes: semi-annual interest only payments; interest rate at 6.07% per annum; due March 25, 2013	$	0.0	$	20.0
	$30.0 million Series B Notes: semi-annual interest only payments; interest rate at 6.28% per annum; due March 25, 2014		20.0		20.0
$60.0 million Term Loan; $3.0 million principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage (2.71% at March 31, 2013); due October 26, 2017			54.0		57.0
Promissory notes			4.8		5.7
			78.8		102.7
Current portion of long-term obligations			(35.8)		(35.8)
	Total	$	43.0	$	66.9

Our weighted average interest rate for our five year $60.0 million Term Loan was 2.7% for the three months ended March 31, 2013.

As of March 31, 2013, our total leverage ratio was 0.95 and our fixed charge coverage ratio was 1.35.

As of March 31, 2013, our availability under our $165.0 million Revolving Credit Facility was $142.6 million as we had $22.4 million outstanding in letters of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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