XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Note 12 - Long-term Debt | 12 Months Ended
--- | ---
Dec. 31, 2016
Notes to Financial Statements |
Long-term Debt [Text Block] |
12. |  | Long-term debt
|  | December 31, 2016 |  | December 31, 2015
Revolving credit facility |  | $ | 259,081 |  |  | $ | 255,165 |
Capital leases maturing at various dates through 2019 |  |  | 1,868 |  |  |  | 1,870 |
Other long-term debt maturing at various dates up to 2020 |  |  | 1,549 |  |  |  | 3,912 |
|  |  | 262,498 |  |  |  | 260,947 |
Less: current portion |  |  | 1,961 |  |  |  | 3,200 |
Long-term debt - non-current |  | $ | 260,537 |  |  | $ | 257,747 |
On June 1, 2015, the Company entered into a credit agreement with a syndicate of banks to provide a $525,000 committed revolving credit facility (the “Facility”). The Facility has a five -year term ending June 1, 2020 and bears interest at 1.5% to 2.75% over floating reference rates, depending on certain leverage ratios. The weighted average interest rate for 2016 was 2.4% (2015 - 2.3%). The Facility had $253,696 of available un-drawn credit as at December 31, 2016. As of December 31, 2016, letters of credit in the amount of $12,073 were outstanding ($17,232 as at December 31, 2015). The Facility requires a commitment fee of 0.30% to 0.55% of the unused portion, depending on certain leverage ratios. At any time during the term, the Company has the right to increase the Facility by up to $150,000 on the same terms and conditions as the original Facility. The Company granted the banks collateral including an interest in the Company’s shares of its subsidiaries, an assignment of material contracts, and an assignment of the Company’s “call” rights with respect to shares of the subsidiaries held by minority interests. The credit agreement covenants require the Company to maintain certain ratios including financial leverage, interest coverage and net worth. The Company is limited from undertaking certain mergers, acquisitions and dispositions without prior approval. On January 18, 2017, the credit agreement for the Facility was amended and restated (see note 25). The effective interest rate on the Company’s long-term debt for the year ended December 31, 2016 was 2.8% (2015 - 3.1%). The estimated aggregate amount of principal repayments on long-term debt required in each of the next five years ending December 31 and thereafter to meet the retirement provisions are as follows:
2017 |  | $ | 1,961 |
2018 |  |  | 1,102 |
2019 |  |  | 350 |
2020 |  |  | 4 |
2021 and thereafter |  |  | 259,081 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration