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Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Summary of Outstanding Borrowings under Credit Facility

The following table provides a summary of the Company’s outstanding borrowings under the Credit Facility:

		June 30, 2019								December 31, 2018
		Term Loan				Revolver(1)				Term Loan				Revolver(1)
Amount borrowed		$	200,000			$	—			$	200,000			$	—
Unamortized issuance costs			(4,238	)			935				(5,408	)			1,195
Carrying amount		$	195,762			$	935			$	194,592			$	1,195
Effective interest rate(2)			5.46	%			n/a				5.09	%			n/a

(1)	The available capacity under the Revolver is subject to compliance with the Total Leverage Ratio.
(2)	Includes amortization of issuance costs.

Summary of Financial Covenant and Leverage Ratio

The credit agreement includes a financial covenant that requires the Company to maintain a Total Leverage Ratio (as defined below), calculated as of the last day of each fiscal quarter, equal to or less than the ratio set forth opposite such fiscal quarter: 

Fiscal Quarter Ending		Total Leverage Ratio
June 30, 2019			2.50:1.00
September 30, 2019			2.50:1.00
December 31, 2019			2.50:1.00
March 31, 2020			2.25:1.00
June 30, 2020			2.25:1.00
September 30, 2020 and each subsequent fiscal quarter ending on or before the maturity date			2.00:1.00

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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Schedule Of Required Ratios Under Financial Covenants And Leverage Ratios

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