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Notes Payable and Credit Agreement (Tables)
 3 Months Ended
Mar. 31, 2014
Summary of Credit Agreement and Notes Payable

Amounts outstanding under the Credit Agreement and notes payable as of March 31, 2014 and December 31, 2013 consisted of the following (in thousands):

 

 

2014

 

 

2013

 

Credit Agreement average effective interest rate of 2.3% inclusive of unused fee

$

45,500

 

 

$

40,000

 

Various notes payable with $775 plus accrued interest due in the next year, interest accrues at 3.25% per annum

 

1,225

 

 

 

1,475

 

 

 

46,725

 

 

 

41,475

 

Less current portion

 

(775

)

 

 

(825

)

 

$

45,950

 

 

$

40,650

 

 
Summary of Aggregate Annual Payments of Principal Required to Revolving Credit Facility

Aggregate annual payments of principal required pursuant to the Credit Agreement and the above notes payable subsequent to March 31, 2014 are as follows (in thousands):

 

During the twelve months ended March 31, 2015

$

775

 

During the twelve months ended March 31, 2016

 

450

 

During the twelve months ended March 31, 2019

 

45,500

 

 

$

46,725