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Long-Term Debt and Capital Leases (Tables)
 8 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Components of Long-Term Debt and Capital Leases

Long-term debt and capital leases as of December 31, 2014, April 30, 2014 and April 30, 2013 consist of the following:

 

    December 31,
2014		     April 30,
2014		     April 30,
2013		  

Senior Secured Revolving Credit Facility:

      

Due March 2016; bearing interest at LIBOR plus 3.75%

   $ 131,300      $ 133,860      $ 123,200   

Tax-Exempt Bonds:

      

New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014; senior unsecured due December 2044 – fixed rate interest period through 2019, bearing interest at 3.75%

     25,000        —          —     

Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-2; senior unsecured due January 2025 - fixed rate interest period through 2017, bearing interest at 6.25%

     21,400        21,400        21,400   

Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013; senior unsecured due April 2036 – fixed rate interest period through 2018, bearing interest at 4.75%

     16,000        16,000        16,000   

Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013; senior unsecured due April 2029 – fixed rate interest period through 2019, bearing interest at 4.00%

     11,000        —          —     

Finance Authority of Maine Solid Wasete Disposal Revenue Bonds Series 2005R–1; letter of credit backed due January 2025 - variable rate interest period through 2017, bearing interest at SIFMA Index

     3,600        3,600        3,600   

Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013; letter of credit backed due April 2029 – converted to fixed rate interest period, bore interest at SIFMA Index

     —          5,500        5,500   

Other:

      

Capital leases maturing through April 2023, bearing interest at up to 7.70%

     3,295        3,710        2,012   

Notes payable maturing through April 2017, bearing interest at up to 6.00%

     435        440        1,228   

Senior Subordinated Notes:

      

Due February 2019; bearing interest at 7.75% (including unamortized discount of $1,319, $1,491 and $1,735)

     323,681        323,509        323,265   
 

 

 

    

 

 

    

 

 

  
  535,711      508,019      496,205   

Less – current maturities of long-term debt

   1,656      885      1,218   
 

 

 

    

 

 

    

 

 

  
$ 534,055    $   507,134    $   494,987   
 

 

 

    

 

 

    

 

 

  

Components of Interest Expense

The components of interest expense for transition period 2014, fiscal year 2014, fiscal year 2013 and fiscal year 2012 are as follows:

 

     Eight Months
Ended
December 31,
2014		     Fiscal Year Ended April 30,  
       2014     2013     2012  

Interest expense on debt, capital lease and financing lease obligations

    $ 23,065      $ 34,216      $ 36,955      $ 40,156   

Amortization of debt financing costs

      2,020        2,757        3,325        3,307   

Amortization of debt discounts

      173        243        626        964   

Letter of credit fees

      714        1,215        1,032        988   

Less: capitalized interest

      (333 )      (256 )      (368 )      (407 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total interest expense

 $ 25,639    $   38,175    $   41,570    $   45,008   
  

 

 

    

 

 

    

 

 

    

 

 

  
Schedule of Future Maturities of Debt

Aggregate principal maturities of long-term debt and capital leases as of December 31, 2014 are as follows:

 

Estimated Future Payments as of December 31, 2014:

  

2015

    $ 1,656   

2016

      131,704   

2017

      237   

2018

      226   

2019 (1)

      323,925   

Thereafter

      77,963   
  

 

 

  
$ 535,711   
  

 

 

  

 

(1) Includes unamortized discount of $1,319 on 2019 Notes.