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Note 7 - Indebtedness | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Debt Disclosure [Text Block] |
| ( 7 ) | Indebtedness
On December 2, 2013, the Company entered into an unsecured $40 million revolving credit facility with Bank of America, N.A. The credit facility called for interest of LIBOR plus a margin that ranged from 1.0% to 1.5% or, at the discretion of the Company, the bank’s prime rate less a margin that ranged from 0.25% to zero . In both cases the applicable margin was dependent upon Company performance. Under the credit facility, the Company was subject to a minimum fixed-charge coverage financial covenant as well as a maximum total funded debt to EBITDA financial covenant. The credit facility was amended effective December 31, 2014, to modify the definition of “consolidated fixed-charge coverage ratio”. The Company’s $40 million credit facility was to mature on November 30, 2018. As of December 31, 2017, the Company had no borrowings outstanding under the credit facility. Included in the credit facility were approximately $0.6 million in standby letters of credit drawable as a financial guarantee on worker’s compensation insurance policies. As of December 31, 2017, the Company was in compliance with all covenants under the credit facility. On February 1, 2018, the Company amended and restated the credit facility (see Note 22 ). Long-term debt consists of the following (in thousands):
|  | December 31,
|  | 2017 |  | 2016
Equipment loans |  | $ | - |  |  | $ | 856 |
Total long-term debt |  |  | - |  |  |  | 856 |
Current installments |  |  | - |  |  |  | (856 | )
Long-term debt, excluding current installments |  | $ | - |  |  | $ | - |

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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