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Long-Term Debt and Financing Arrangements

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

NOTE 5. Long-Term Debt and Financing Arrangements

We have standby letters of credit that expire at various dates in 2016.  As of September 30, 2015, our letters of credit were $7.1 million.

Our unused and available borrowings under our bank revolving line of credit were $42.9 million as of September 30, 2015 and $43.9 million as of December 31, 2014.  We were in compliance with our debt covenants as of September 30, 2015.

We have entered into various Equipment Notes (“Notes”) for the purchase of tractors and containers.  The Notes are secured by the underlying equipment financed in the agreements.

	Period Ended
	September 30,				December 31,
	2015				2014
Secured Equipment Notes due in September 2020 with monthly principal and interest payments of $0.2 million commencing in October 2015; interest is paid monthly at a fixed annual rate of 1.84%	$	12,828			$	-
Secured Equipment Notes due in June 2020 with monthly principal and interest payments of $0.1 million commencing in July 2015; interest is paid monthly at a fixed annual rate of 2.14%		6,733				-
Secured Equipment Notes due in March 2020 with monthly principal and interest payments of $0.04 million commencing in April 2015; interest is paid monthly at a fixed annual rate of 2.14%		2,110				-
Secured Equipment Notes due in January 2020 with monthly principal and interest payments of $0.2 million commencing in February 2015; interest is paid monthly at a fixed annual rate between 1.72% and 2.26%		7,975				-
Secured Equipment Notes due in December 2019 with monthly principal and interest payments of $0.2 million commencing in January 2015; interest is paid monthly at a fixed annual rate of 2.24%		11,473				13,387
Secured Equipment Notes due in November 2019 with monthly principal and interest payments of $0.5 million commencing in December 2014; interest is paid monthly at a fixed annual rate of 2.05%		23,891				28,429
Secured Equipment Notes due in September 2019 with monthly principal and interest payments of $0.4 million commencing in September 2014; interest is paid monthly at a fixed annual rate of 2.15%		19,330				22,772
Secured Equipment Notes due in February 2019 with monthly principal and interest payments of $0.4 million commencing in January 2014; interest is paid monthly at a fixed annual rate between 1.87% and 1.93%		17,218				21,016
Secured Equipment Notes due in June 2018 with quarterly principal and interest payments of $0.5 million commencing in August 2013; interest is paid quarterly at a fixed annual rate between 1.9% and 2.0%		5,061				6,475
		106,619				92,079
Less current portion		(25,929	)			(19,619	)
Total long-term debt	$	80,690			$	72,460

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- References

No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 505



-SubTopic 10



-Section 50



-Paragraph 3



-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SX 210.5-02.19,20,22)



-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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