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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2012
LONG-TERM DEBT [Abstract] |
Long term debt | Long-term debt consisted of the following (in thousands):
| December 31,
| 2012 |  | 2011
Line of credit | $ 104,526 |  | $ 110,828
Term loan | 130,000 |  | -
Unsecured subordinated notes payable in quarterly installments at 5% through November 2015 | 3,870 |  | 2,320
Mortgage loan payable to financial institution, 6.25% collateralized by real estate, payable in monthly installments through December 2012 | - |  | 1,751
| 238,396 |  | 114,899
Less: Current portion | (22,057) |  | (694)
Total Long-term Debt | $ 216,339 |  | $114,205
Computation of the Leverage Ratio | The following table sets forth the computation of the Leverage Ratio as of December 31, 2012 (in thousands, except for ratios):
For the Twelve Months ended December 31, 2012 | Leverage Ratio
Income before taxes | $ 85,009
Interest expense | 5,560
Depreciation and amortization | 18,082
Stock compensation expense | 1,955
Pro forma acquisition EBITDA | 16,542
Other adjustments | 913
(A) Defined EBITDA | $ 128,061
As of December 31, 2012 |
Total long-term debt | $ 238,396
Letters of credit outstanding | 476
(B) Defined indebtedness | $ 238,872
Leverage Ratio (B)/(A) | 1.87
Maturities of long-term debt | The maturities of long-term debt under the Company's term loan for the next five years and thereafter are as follows (in thousands):
2013 | 22,057
2014 | 25,495
2015 | 31,943
2016 | 34,376
2017 | 124,525
Thereafter | -

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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