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Note 11 - Long-term Debt | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Long-term Debt [Text Block] |
11. | Long-term debt
|  |  | December 31, 2017 |  |  |  | December 31, 2016 |
Revolving credit facility |  | $ | 246,411 |  |  | $ | 259,081 |
Capital leases maturing at various dates through 2021 |  |  | 1,991 |  |  |  | 1,868 |
Other long-term debt maturing at various dates up to 2020 |  |  | 1,491 |  |  |  | 1,549 |
|  |  | 249,893 |  |  |  | 262,498 |
Less: current portion |  |  | 2,426 |  |  |  | 1,961 |
Long-term debt - non-current |  | $ | 247,467 |  |  | $ | 260,537 |
On January 18, 2017, the Company entered into an amended and restated credit agreement with a syndicate of banks to provide a multi-currency revolving credit facility (the “Facility”) of $700,000. The Facility has a 5 -year term ending January 18, 2022 and bears interest floating reference rates plus an applicable margin of 1.50% to 2.75%, depending on certain leverage ratios. The weighted average interest rate on the Facility for 2017 was 2.9% ( 2016 - 2.4% ). The Facility had $444,711 of available un-drawn credit as at December 31, 2017. As of December 31, 2017, letters of credit in the amount of $10,307 were outstanding ( $12,073 as at December 31, 2016). 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 is required to maintain financial covenants including leverage and interest coverage. The Company was in compliance with these covenants as of December 31, 2017. The Company is limited from undertaking certain mergers, acquisitions and dispositions without prior approval. The effective interest rate on the Company’s long-term debt for the year ended December 31, 2017 was 3.1% ( 2016 - 2.8% ). 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:
2018 |  | $ | 2,426 |
2019 |  |  | 900 |
2020 |  |  | 142 |
2021 |  |  | 14 |
2022 and thereafter |  |  | 246,411 |

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- 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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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