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LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2014
LONG-TERM DEBT [Abstract]  
Long Term Debt
Long-term debt consisted of the following (in thousands):
 
December 31,
 
2014
 
2013
       
Line of credit
$   193,443
 
$   76,849
Term loan
212,500
 
 109,375
Promissory note payable in monthly installments at 2.9% through January 2021, collateralized by equipment
5,216
 
6,000
Unsecured subordinated notes payable in quarterly installments at 5%
 through November 2015
357
 
2,361
Total Debt
411,516
 
194,585
Less: Current maturities
(38,608)
 
(26,213)
Total Long-term Debt
$  372,908
 
$ 168,372
Computation of the Leverage Ratio
The following table sets forth the computation of the Leverage Ratio as of December 31, 2014 (in thousands, except for ratios):
 
For the Twelve Months ended
December 31, 2014
 
Leverage
Ratio
   
Loss before taxes
$  (25,556)
Interest expense
12,797
Depreciation and amortization
35,078
Impairment expense
117,569
Stock compensation expense
3,560
Pro forma acquisition EBITDA
850
Other adjustments
(250)
(A) Defined EBITDA
 $  144,048
   
As of December 31, 2014
 
Total long-term debt, including current maturities
$ 411,516
Outstanding letters of credit
5,680
(B) Defined indebtedness
$ 417,196
   
Leverage Ratio (B)/(A)
2.90
Computation of the Asset Coverage Ratio
The following table sets forth the computation of the Asset Coverage Ratio as of December 31, 2014 (in thousands, except for ratios):

Credit facility outstanding balance
   
$    193,443
Defined indebtedness
   
$    193,443
       
Accounts receivable, net
239,236
85%
$   203,351
Inventory
115,658
65%
75,178
     
$   278,529
Asset Coverage Ratio
 
1.44
Maturities of Long-Term Debt
As of December 31, 2014, the maturities of long-term debt under the Company’s term loan for the next five years and thereafter were as follows (in thousands):

2015
$   38,608
2016
50,831
2017
63,356
2018
63,381
2019
194,350
Thereafter
990