Notes Payable and Long Term Debt

3 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Notes Payable and Long Term Debt

Notes Payable and Long Term Debt

At June 30, 2015, the Company had outstanding borrowings of $38,000 under the Second Amended and Restated Credit Agreement and outstanding letters of credit of approximately $100.  As a result, the unused balance under the Second Amended and Restated Credit Agreement was approximately $361,900 at June 30, 2015.  At June 30, 2015, the weighted average interest rate was 1.44%, which is 1.25% above the adjusted London Interbank Offered Rate (LIBOR) for 30 days of 0.19%. Subsequent to June 30, 2015, the Company borrowed $64,000, resulting in a total outstanding balance of $102,000 under the Second Amended and Restated Credit Agreement through August 10, 2015.

At June 30, 2015, the Company had approximately $4,900 of outstanding borrowings under the Amended China Credit Facility included in short-term borrowings in the condensed consolidated balance sheets. Interest is based on the People’s Bank of China rate, which was 4.85% at June 30, 2015. Subsequent to June 30, 2015, the Company repaid approximately $4,900, resulting in no outstanding borrowings under the Amended China Credit Facility through August 10, 2015.