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NOTES PAYABLE, REVOLVING CREDIT FACILITY AND CAPITAL LEASES (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Schedule of revolving credit facility, notes payable, and capital lease obligations | Revolving credit facility, notes payable, and capital lease obligations:
| December 31, 2019 |  | December 31, 2018
First Lien Term Loans collateralized by RadNet's tangible and intangible assets | $ | 649,824 |  |  | $ | 587,191 |
Discount on First Lien Term Loans | (13,579 | ) |  | (15,112 | )
Term Loan Agreement collateralized by NJIN's tangible and intangible assets | 55,875 |  |  | 59,250 |
Revolving Credit Facility | — |  |  | 28,000 |
Promissory note payable to the former owner of a practice acquired at an interest rate of 1.5% due through 2019 | — |  |  | 199 |
Equipment notes payable at interest rates ranging from 4.4% to 5.6%, due through 2020, collateralized by medical equipment | 275 |  |  | 632 |
Obligations under capital leases at interest rates ranging from 3.7% to 9.3%, due through 2022, collateralized by medical and office equipment (1) | — |  |  | 12,119 |
Total debt obligations | 692,395 |  |  | 672,279 |
Less current portion | (39,691 | ) |  | (39,267 | )
Long-term portion debt obligations | $ | 652,704 |  |  | $ | 633,012 |
Schedule of annual principal maturities of notes payable | The following is a listing of annual principal maturities of notes payable exclusive of all related discounts and repayments on our revolving credit facilities for years ending December 31 (in thousands):
2020 | $ | 43,571 |
2021 | 43,670 |
2022 | 44,795 |
2023 | 573,938 |
Total notes payable obligations | $ | 705,974 |
Schedule of term loans and financing activity | Included in our consolidated balance sheets at December 31, 2019 are $636.2 million of First Lien Term Loans and $55.9 million of SunTrust Term Loan debt for a combined total of $692.1 million (net of unamortized discounts of $13.6 million) in thousands:
| Face Value |  | Discount |  | Total Carrying Value
First Lien Term Loans | $ | 649,824 |  |  | $ | (13,579 | ) |  | $ | 636,245 |
Term Loan Agreement | 55,875 |  |  | — |  |  | 55,875 |
Total Term Loans | $ | 705,699 |  |  | $ | (13,579 | ) |  | $ | 692,120 |
Schedule of leverage ratio | Interest rates and fees of the applicable margin for borrowing under the SunTrust Restated Credit Agreement adjust depending on our leverage ratio, according to the following table:
Pricing Level | Leverage Ratio | Applicable Margin for Eurodollar Loans | Applicable Margin for Base Rate Loans | Applicable Margin for Letter of Credit Fees | Applicable Percentage for Commitment Fee
I | Greater than or equal to 3.00:1.00 | 2.75% per annum | 1.75% per annum | 2.75% per annum | 0.45% per annum
II | Less than 3.00:1.00 but greater than or equal to 2.50:1.00 | 2.25% per annum | 1.25% per annum | 2.25% per annum | 0.40% per annum
III | Less than 2.50:1.00 but greater than or equal to 2.00:1.00 | 2.00% per annum | 1.00% per annum | 2.00% per annum | 0.35% per annum
IV | Less than 2.00:1.00 but greater than or equal to 1.50:1.00 | 1.75% per annum | 0.75% per annum | 1.75% per annum | 0.30% per annum
V | Less than 1.50:1.00 | 1.50% per annum | 0.50% per annum | 1.50% per annum | 0.30% per annum
First Lien Term Loans bear interest at either an Adjusted Eurodollar Rate or a Base Rate plus an applicable margin. Rates of the applicable margin for borrowing under the First Lien Credit Agreement will alter depending on our leverage ratio, according to the following schedule:
First Lien Leverage Ratio | Eurodollar Rate Spread | Base Rate Spread
> 5.50x | 4.50% | 3.50%
> 4.00x but ≤ 5.50x | 3.75% | 2.75%
>3.50x but ≤ 4.00x | 3.50% | 2.50%
≤ 3.50x | 3.25% | 2.25%

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