LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

6 Months Ended

Jun. 30, 2016

LONG-TERM DEBT AND FINANCING ARRANGEMENTS


	June 30		December 31
	2016		2015
	(in thousands)
Credit Facility (interest rate of 1.7% at June 30, 2016)	$	70,000	$	70,000
Accounts receivable securitization borrowings (interest rate of 1.3% at June 30, 2016)		35,000		35,000
Notes payable (weighted-average interest rate of 2.0% at June 30, 2016)		119,723		106,703
Capital lease obligations (weighted-average interest rate of 5.8% at June 30, 2016)		727		806
		225,450		212,509
Less current portion		55,406		44,910
Long-term debt, less current portion	$	170,044	$	167,599

Scheduled maturities of long-term debt obligations


					Accounts
					Receivable
			Credit		Securitization		Notes		Capital Lease
	Total		Facility(1)		Program(1)		Payable		Obligations(2)
	(in thousands)
Due in one year or less	$	59,069	$	1,233	$	466	$	57,151	$	219
Due after one year through two years		78,996		1,338		35,254		42,180		224
Due after two years through three years		20,453		1,464		—		18,759		230
Due after three years through four years		73,407		70,796		—		2,475		136
Due after four years through five years		2,350		—		—		2,350		—
Due after five years		80		—		—		80		—
Total payments		234,355		74,831		35,720		122,995		809
Less amounts representing interest		8,905		4,831		720		3,272		82
Long-term debt	$	225,450	$	70,000	$	35,000	$	119,723	$	727

⁽¹⁾

The future interest payments included in the scheduled maturities due are calculated using variable interest rates based on the LIBOR swap curve, plus the anticipated applicable margin.

⁽²⁾

Minimum payments of capital lease obligations include maximum amounts due under rental adjustment clauses contained in the capital lease agreements.

Schedule of assets securing notes payable or held under capital leases


	June 30		December 31
	2016		2015
	(in thousands)
Revenue equipment	$	172,447	$	136,698
Land and structures (terminals)		1,794		1,794
Total assets securing notes payable or held under capital leases		174,241		138,492
Less accumulated depreciation and amortization(1)		41,002		25,120
Net assets securing notes payable or held under capital leases	$	133,239	$	113,372

⁽¹⁾

Amortization of assets under capital leases and depreciation of assets securing notes payable are included in depreciation expense.