8.	LONG-TERM DEBT :

Long-term debt was comprised of the following (in thousands):

	December 31,
	2015			2014

Variable interest rate term notes	$	127,508		$	74,834
Fixed interest rate term notes		520,247			503,420

Total debt		647,755			578,254

Less: current maturities		(151,024	)		(149,065	)

Total long-term debt, net of current maturities	$	496,731		$	429,189

As of December 31, 2015, debt maturities were as follows (in thousands):

2016	$	151,024
2017		127,966
2018		115,179
2019		96,585
2020		97,161
Thereafter		59,840

Total	$	647,755

The interest rates on the Company’s variable interest rate notes are based on various LIBOR benchmark rates. The interest rates on the notes range from approximately 1.9% to 2.4% on December 31, 2015. Payments on the notes range from approximately $3,380 to $125,833 per month, plus interest. Maturities of these notes range from May 2016 to October 2022.

The Company’s fixed interest rate notes had interest rates that ranged from approximately 2.47% to 7.61% on December 31, 2015. Payments on the notes range from $221 to $32,840 per month, plus interest. Maturities of these notes range from January 2016, to March 2025.

The proceeds from the issuance of the notes were used primarily to acquire land, buildings and improvements, transportation equipment and leasing vehicles. The notes are secured by the assets acquired with the proceeds of such notes.

The Company’s long-term real estate debt agreements and floor plan financing arrangements require the Company to satisfy various financial ratios such as the debt to worth ratio, leverage ratio, the fixed charge coverage ratio and certain requirements for tangible net worth and GAAP net worth. As of December 31, 2015, the Company was in compliance with all debt covenants. The Company does not anticipate any breach of the covenants in the foreseeable future.