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Long Term Debt | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Long-term Debt | Long Term Debt Long-term debt consists of the following at December 31:
| 2017 |  | 2016
Revolving line of credit | $ | 327,000 |  |  | $ | 329,000 |
Term loan, net of deferred debt issuance costs of $467 and $622 in 2017 and 2016, respectively | 157,033 |  |  | 165,628 |
Mortgage notes | 2,410 |  |  | 3,862 |
Total debt | 486,443 |  |  | 498,490 |
Less: Current portion | 14,699 |  |  | 10,202 |
Total long-term debt | $ | 471,744 |  |  | $ | 488,288 |
On January 4, 2016, we entered into a fifth amended and restated senior credit agreement consisting of: (a) a $175.0 million term loan facility and (b) a $525.0 million revolving credit facility both expiring on January 4, 2021. The term loan is payable in quarterly installments increasing over the term of the facility. Proceeds from the term loan facility and borrowings under the revolving credit facility were used to repay the then existing senior credit agreement and to finance the acquisition of SurgiQuest. Interest rates are at LIBOR plus 2.00% (3.57% at December 31, 2017). For those borrowings where we elect to use the alternative base rate, the base rate will be the greater of the Prime Rate, the Federal Funds Rate plus 0.50% or the one-month Eurocurrency Rate Plus 1.00%. In conjunction with this agreement, we incurred charges included in other expense in the 2016 statement of comprehensive income related to commitment fees paid to certain of our lenders, which provided a financing commitment for the SurgiQuest acquisition totaling $2.7 million and recorded a loss on the early extinguishment of debt of $0.3 million. There were $157.5 million in borrowings outstanding on the term loan as of December 31, 2017. There were $327.0 million in borrowings outstanding under the revolving credit facility as of December 31, 2017. Our available borrowings on the revolving credit facility at December 31, 2017 were $194.9 million with approximately $3.1 million of the facility set aside for outstanding letters of credit. The fifth amended and restated senior credit agreement is collateralized by substantially all of our personal property and assets. The fifth amended and restated senior credit agreement contains covenants and restrictions which, among other things, require the maintenance of certain financial ratios and restrict dividend payments and the incurrence of certain indebtedness and other activities, including acquisitions and dispositions. We were in full compliance with these covenants and restrictions as of December 31, 2017. We are also required, under certain circumstances, to make mandatory prepayments from net cash proceeds from any issuance of equity and asset sales. We have a mortgage note outstanding in connection with the Largo, Florida property and facilities bearing interest at 8.25% per annum with semiannual payments of principal and interest through June 2019. The principal balance outstanding on the mortgage note aggregated $2.4 million at December 31, 2017. The mortgage note is collateralized by the Largo, Florida property and facilities. The scheduled maturities of long-term debt outstanding at December 31, 2017 are as follows:
2018 | $ | 14,699 |
2019 | 18,336 |
2020 | 17,500 |
2021 | 436,375 |
2022 | — |
Thereafter | — |

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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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