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Debt (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021						Outstanding Balance as of December 31, 2020
Credit Agreement
Revolving loans						9/13/2019						Variable						Variable						5						$	—					$	—
Equipment Notes
Equipment Note 6						6/25/2019						2.89%						Semi-annual						7						12,896						12,896
Equipment Note 7						6/24/2019						3.09%						Semi-annual						5						6,980						6,980
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						5,513						5,513
Equipment Note 9						12/24/2019						3.01%						Semi-annual						7						4,031						4,031
																														29,420						29,420
Total debt																														29,420						29,420
Less: current portion of long-term debt																														(4,381)						(4,381)
Long-term debt																														$	25,039					$	25,039

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 March 31, 2021:

(in thousands)						Future Equipment Notes Principal Payments
Remainder of 2021						$	4,381
2022						4,511
2023						4,645
2024						7,102
2025						2,189
2026						6,592
Thereafter						—
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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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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