XML 19 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt and Short-Term Debt (Tables)
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Summary of Long-Term Debt and Short-Term Debt

Long-term debt and short-term debt at September 30, 2014 and December 31, 2013 consisted of the following:

 

    

September 30,

2014

     December 31,
2013
 

Borrowings under our $350,000 Term Loan B bearing interest the greater of 1% or 3 month LIBOR (0.2318% at September 30, 2014) plus an applicable margin of 5.00% at September 30, 2014, expiring August 29, 2021, net of discount of $5,250.

   $ 344,750       $ —     

Borrowings under our $100,000 ABL Revolver bearing interest at a floating rate equal to LIBOR (0.1565% at September 30, 2014) plus an applicable margin of 1.75% at September 30, 2014, expiring August 29, 2019.

     —           —     

Borrowings under our $100,000 revolving credit facility bearing interest at a floating rate equal to LIBOR (0.1565% at September 30, 2014) plus an applicable margin of 1.25% at September 30, 2014, expiring October 26, 2017.

     —           10,763   

Borrowings under our $40,000 aggregate principal amount of fixed rate notes bore interest at a fixed rate of 4.89% and matured on April 26, 2014. Annual principal payments of $5,714 began on April 26, 2008 and extend through the date of maturity.

     —           5,714   

Borrowings under our $20,000 aggregate principal amount of fixed rate notes bearing interest at a fixed rate of 4.64% maturing on December 20, 2018. Annual principal payments of $4,000 will begin on December 22, 2014 and extend through the date of maturity.

     —           20,000   

French Safeguard Obligations (Autocam)

     2,935         —     

Brazilian lines of credit and equipment notes (Autocam)

     6,265         —     

Chinese line of credit (Autocam)

     1,299         —     
  

 

 

    

 

 

 

Total debt

     355,249         36,477   

Less current maturities of long-term debt

     24,048         10,477   
  

 

 

    

 

 

 

Long-term debt, excluding current maturities of long-term debt

   $ 331,201       $ 26,000