XML 66 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long term obligations (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Vendor obligations    
Capital lease obligations $ 773 [1] $ 17 [1]
Deferred lease payments 813 [2] 764 [2]
Microsoft licenses 797 [3] 0 [3]
Pension obligations    
Accrued pension liability 3,681 3,317
Long-term Debt 6,064 4,098
Less: Current portion of long term obligations 870 351
Totals $ 5,194 $ 3,747
[1] In March 2014, the Company entered into an equipment sale leaseback agreement with a financing company. The cash proceeds from the transaction were $0.9 million. The Company leased the equipment for a period of 36 months at an effective interest rate of approximately 6% and has the option to purchase the equipment at a nominal amount at the end of the lease term. The Company has accounted for this transaction as a financing arrangement, wherein the equipment remains on the Company’s books and will continue to be depreciated. As of June 30, 2014, the Company had made $0.1 million in lease payments under the sale lease back agreement.
[2] Deferred lease payments represents the effect of straight-lining non-financing type lease payments over the respective lease terms.
[3] In March 2014, the Company renewed a vendor agreement to acquire certain additional software licenses and to receive support and subsequent software upgrades on these and other currently owned software licenses through February 2017. Pursuant to this agreement, the Company is obligated to pay approximately $0.4 million annually over the term of the agreement. The total cost, net of deferred interest (in thousands), was allocated to the following asset accounts in 2014: