XML 63 R49.htm IDEA: XBRL DOCUMENT v3.3.1.900
Long Term Debt (Details)
12 Months Ended
Jul. 02, 2015
USD ($)
Nov. 08, 2012
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Long Term Debt (Textual)        
Revolving credit facility, value $ 150,000,000      
Maximum aggregate incremental term loans $ 50,000,000      
Maturity date Jul. 02, 2020      
Cash interest paid     $ 2,400,000 $ 4,400,000
Covenant terms required by credit facility    

       A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation).

       A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense.

       A Department of Education Financial Responsibility Composite Score of not less than 1.5.

 
Maximum total leverage ratio     2  
Minimum coverage ratio     1.75  
Minimum department of education financial composite score     1.5  
Revolving credit facility, outstanding     $ 0  
Payments of debt financing costs $ 900,000      
Average annual interest rate     4.30% 4.30%
Prior Credit Agreement [Member]        
Long Term Debt (Textual)        
Maturity date   Dec. 31, 2016    
Revolving Credit Facility [Member]        
Long Term Debt (Textual)        
Interest rate description     Borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company's election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (as compared to 2.00% to 2.50% under the Prior Credit Agreement), depending on the Company's leverage ratio.  
Revolving Credit Facility [Member] | Minimum [Member]        
Long Term Debt (Textual)        
Margin rate for interest if using base rate     1.75%  
Unused commitment fee     0.25%  
Revolving Credit Facility [Member] | Maximum [Member]        
Long Term Debt (Textual)        
Margin rate for interest if using base rate     2.25%  
Unused commitment fee     0.35%  
Revolving Credit Facility [Member] | Prior Credit Agreement [Member] | Minimum [Member]        
Long Term Debt (Textual)        
Margin rate for interest if using base rate     2.00%  
Unused commitment fee     0.30%  
Revolving Credit Facility [Member] | Prior Credit Agreement [Member] | Maximum [Member]        
Long Term Debt (Textual)        
Margin rate for interest if using base rate     2.50%  
Unused commitment fee     0.40%  
Term Loan Facility [Member] | Interest Rate Swap [Member]        
Long Term Debt (Textual)        
Interest rate swap, fixed rate minimum     2.85%  
Interest rate swap, fixed rate maximum     3.35%