LONG-TERM DEBT

The components of long-term debt are as follows:



	December 31,
(in thousands)	2016		2015
Bank revolving credit facility	$	70,000	$	144,000
Capital lease obligations	—		23
Other notes payable	90		60
Total debt	70,090		144,083
Less current maturities	73		77
Total long-term debt	$	70,017	$	144,006

Effective December 20, 2016, the Company amended it's revolving credit facility to extend the termination date, reduce LIBOR interest margin and to modify certain financial and other covenants in order to meet the ongoing needs of the Company's business and to allow for greater flexibility in relation to future acquisitions.

The Company maintains an unsecured revolving credit facility with certain lenders under its Amended and Restated Revolving Credit Agreement ("Agreement"). The aggregate commitments from lenders under this Agreement are $250,000,000 and, subject to certain conditions, the Company has the option to request an increase in aggregate commitments of up to an additional $50,000,000. The Agreement requires us to maintain various financial covenants including a minimum earnings before interest and tax to interest expense ratio, a maximum leverage ratio and a minimum asset coverage ratio. The Agreement also contains various covenants relating to limitations on indebtedness, limitations on investments and acquisitions, limitations on sale of properties, and limitations on liens and capital expenditures. The Agreement also contains other customary covenants, representations and events of defaults. The expiration date of the revolving credit facility is December 20, 2021. As of December 31, 2016, $70,000,000 was outstanding under the Agreement. On December 31, 2016, $1,714,000 of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts resulting in $178,286,000 in available borrowings.

The aggregate maturities of long-term debt, as of December 31, 2016, are as follows: $73,000 in 2017; $17,000 in 2018; zero in 2019 and 2020; and $70,000,000 thereafter.

The fair value of the Company’s debt is based on secondary market indicators. Since the Company’s debt is not quoted, estimates are based on each obligation’s characteristics, including remaining maturities, interest rate, credit rating, collateral, amortization schedule and liquidity. The carrying value of our debt approximates the fair value as of December 31, 2016 and 2015, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs.