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Debt (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022						Outstanding Balance as of December 31, 2021
Credit Agreement
Revolving loans						9/13/2019						Variable						Variable						5						$	45,193					$	—
Equipment Notes
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						4,503						4,503
																														4,503						4,503
Total debt																														49,696						4,503
Less: current portion of long-term debt																														(1,039)						(1,039)
Long-term debt																														$	48,657					$	3,464

Schedule of remaining principal payments for long term obligations

The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Note as of March 31, 2022:

(in thousands)						Future Equipment Notes Principal Payments
Remainder of 2022						$	1,039
2023						1,067
2024						2,397
Total future principal payments						4,503
Less: current portion of equipment notes						(1,039)
Long-term principal obligations						$	3,464

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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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