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Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

Debt

The Company’s outstanding debt as of March 31, 2018, December 31, 2017 and March 31, 2017 consisted of the following (in thousands):

	March 31, 2018				December 31, 2017				March 31, 2017
Revolving credit facility(1)	$	—			$	—			$	15,000
Term loan(1)	152,499				154,418				160,700
Capital lease obligations	2,277				2,374				2,676
Total debt(2)	154,776				156,792				178,376
Less: debt issuance costs	(416		)		(444		)		(534		)
Total debt, net of issuance costs	154,360				156,348				177,842
Less: current portion	(8,652		)		(8,646		)		(23,656		)
Long-term portion of debt	$	145,708			$	147,702			$	154,186

(1) See Note 8, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (as defined below under the heading “Description of indebtedness”). 

(2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and capital lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ 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

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