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Debt (Tables)

12 Months Ended

Dec. 31, 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 agreement for equipment notes:

(dollars in thousands)						Inception Date						Stated Interest Rate (per annum)						Payment Frequency						Term (years)						Outstanding Balance as of December 31, 2020						Outstanding Balance as of December 31, 2019
Credit Agreement
Revolving loans						9/13/2019						Variable						Variable						5						$	—					$	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						12,896						14,286
Equipment Note 7						6/24/2019						3.09%						Semi-annual						5						6,980						9,033
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						5,513						6,496
Equipment Note 9						12/24/2019						3.01%						Semi-annual						7						4,031						4,534
																														29,420						62,004
Total debt																														29,420						165,824
Less: current portion of long-term debt																														(4,381)						(8,737)
Long-term debt																														$	25,039					$	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 December 31, 2020:

(in thousands)						Future Equipment Notes Principal Payments
2021						$	4,381
2022						4,511
2023						4,645
2024						7,102
2025						2,189
Thereafter						6,592
Total future principal payments						$	29,420
Less: current portion of equipment notes						(4,381)
Long-term principal obligations						$	25,039

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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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