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Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of total debt

The table below reflects the Company’s total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:​

(dollar amounts in thousands)						Inception Date						Stated Interest Rate (per annum)						Payment Frequency						Term (years)						Outstanding Balance as of September 30, 2020						Outstanding Balance as of December 31, 2019
​						​						​						​						​						​						​
Credit Agreement
Revolving loans						9/13/2019						Variable						Variable						5						$	38,630					$	103,820
​
Equipment Notes
Equipment Note 1						9/28/2018						4.16%						Semi-annual						5						—						10,643
Equipment Note 2						9/28/2018						4.23%						Semi-annual						7						—						11,200
Equipment Note 3						12/31/2018						3.97%						Semi-annual						5						—						1,953
Equipment Note 4						12/31/2018						4.02%						Semi-annual						7						—						2,108
Equipment Note 5						12/31/2018						4.01%						Semi-annual						7						—						1,751
Equipment Note 6						6/25/2019						2.89%						Semi-annual						7						13,596						14,286
Equipment Note 7						6/24/2019						3.09%						Semi-annual						5						7,675						9,033
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						6,008						6,496
Equipment Note 9						12/24/2019						3.01%						Semi-annual						7						4,285						4,534
​																														31,564						62,004
Total debt																														70,194						165,824
Less: current portion of long-term debt																														(4,318)						(8,737)
Long-term debt																														$	65,876					$	157,087

Schedule of remaining principal payments for long term obligations

The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Notes as of September 30, 2020:

(in thousands)						Future Equipment Notes Principal Payments
​						​
Remainder of 2020						$	2,143
2021						4,381
2022						4,511
2023						4,645
2024						7,103
2025						2,189
Thereafter						6,592
Total future principal payments						$	31,564
Less: current portion of equipment notes						(4,318)
Long-term principal obligations						$	27,246

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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