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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2018
Long-Term Debt |
Reconciliation of principal balance of outstanding debt | The following table reconciles the principal balance of our outstanding debt to our Consolidated Balance Sheets, in thousands:
+ |  |  |  |  |  |
|  | As of
|  | December 31, |  | December 31,
Principal debt balances: |  | 2018 |  | 2017
Current portion of long-term debt - term loan |  | $ | 21,875 |  | $ | 12,500
Current portion of long-term debt - equipment notes |  |  | 4,977 |  |  | —
Long-term portion of long-term debt - Senior Notes |  |  | 400,000 |  |  | —
Long-term portion of long-term debt - term loan |  |  | 305,625 |  |  | 231,250
Long-term portion of long-term debt - equipment notes |  |  | 19,478 |  |  | —
Unamortized debt issuance costs |  |  | (8,481) |  |  | (1,863)
Total debt, net of unamortized debt issuance costs |  |  | 743,474 |  |  | 241,887
Less: current portion of long-term debt |  |  | 26,852 |  |  | 12,500
Total long-term debt |  | $ | 716,622 |  | $ | 229,387
Schedule of remaining principal payments of debt | The following table sets forth our remaining principal payments for our outstanding debt balances as of December 31, 2018, in thousands:
|  | Payments Due by Period
|  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Thereafter |  | Total
Senior Notes |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 400,000 |  | $ | 400,000
Term loan |  |  | 21,875 |  |  | 26,250 |  |  | 30,625 |  |  | 248,750 |  |  | — |  |  | — |  |  | 327,500
Equipment notes |  |  | 4,977 |  |  | 5,187 |  |  | 5,407 |  |  | 5,636 |  |  | 3,248 |  |  | — |  |  | 24,455
Total |  | $ | 26,852 |  | $ | 31,437 |  | $ | 36,032 |  | $ | 254,386 |  | $ | 3,248 |  | $ | 400,000 |  | $ | 751,955
Summary of key terms of Amended Credit Agreement | The following table outlines the key terms of our Amended Credit Agreement (dollars in thousands):
Senior secured term loan facility (original borrowing) (a) | $ | 250,000 |
Additional delayed draw term loan (b) | $ | 100,000 |
Additional term loan and/or revolver capacity available under incremental facility (c) | $ | 200,000 |
Revolving Facility | $ | 250,000 |
Sublimit for issuance of letters of credit under Revolving Facility (d) | $ | 100,000 |
Sublimit for swingline loans under Revolving Facility (d) | $ | 20,000 |
Interest rate as of December 31, 2018 |  | 3.59 | %
Scheduled maturity date |  | 5/05/2022 |
| (a) |  | The Amended Credit Agreement provides for a term loan limit of $350.0 million; $250.0 million was drawn on May 5, 2017.
| (b) |  | On May 1, 2018, the net proceeds from the $100.0 million delayed draw term loan were used to partially fund the USI acquisition.
| (c) |  | Additional borrowing capacity is available under the incremental facility, subject to certain terms and conditions (including existing or new lenders providing commitments in respect of such additional borrowing capacity).
| (d) |  | Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the Revolving Facility.
Schedule of availability under the Revolving Facility | The following table summarizes our availability under the Revolving Facility, in thousands:
|  | As of
|  | December 31, |  | December 31,
|  | 2018 |  | 2017
Revolving Facility |  | $ | 250,000 |  | $ | 250,000
Less: standby letters of credit |  |  | (59,288) |  |  | (47,055)
Availability under Revolving Facility |  | $ | 190,712 |  | $ | 202,945
Schedule of maximum Net Leverage Ratios and minimum FCCR | The following table sets forth the maximum Net Leverage Ratios and minimum FCCR required:
Quarter Ending |  | Maximum Net Leverage Ratio |  | Minimum FCCR
June 30, 2018 through September 30, 2018 |  | 3.75:1.00 |  | 1.25:1.00
December 31, 2018 through June 30, 2019 |  | 3.50:1.00 |  | 1.25:1.00
September 30, 2019 and each fiscal quarter end thereafter |  | 3.25:1.00 |  | 1.25:1.00
Schedule of the key financial covenants | The following table outlines the key financial covenants effective for the period covered by this report:
|  | As of December 31, 2018
Maximum Net Leverage Ratio |  | 3.50:1.00
Minimum FCCR |  | 1.25:1.00
Compliance as of period end |  | In Compliance

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