XML 73 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

Debt and Credit Arrangements

12 Months Ended

Dec. 31, 2012

Debt and Credit Arrangements [Abstract]

Debt and Credit Arrangements

Note D—Debt and Credit Arrangements

		December 31
		2012				2011
Short-term debt
Secured notes
Brazilian Real denominated (R$3,808k) at 2.95% to 6.00% due 2012		$	0			$	2,030
New Zealand Dollar (NZ$264k) at 1.70% to 5.56%			217				0
Current portion of long-term debt			251				601
Total short-term debt			468				2,631
Long-term debt
USD denominated at 1.42%, due 2015			9,236				27,633
Australian dollar denominated term loans (A$467), at 5.83% (4.19% to 5.83% in 2011), due 2013, secured by land and building			70				470
Brazilian Real denominated term loan (R$918k) at .4% to .7% due 2014 secured by capital equipment			267				489
Total long-term debt			9,573				28,592
Less current portion			(251	)			(601	)
Total long-term debt, less current portion			9,322				27,991
Total debt		$	9,790			$	30,622

The PLP-USA line of credit makes $90 million available to the Company at an interest rate of LIBOR plus 1.125% with a term expiring January 2015. At December 31, 2012, the interest rate on the line of credit agreement was 1.3347%. There was $9.2 million outstanding at December 31, 2012 under the line of credit. The line of credit agreement contains, among other provisions, requirements for maintaining levels of working capital, net worth and profitability. At December 31, 2012, the Company was in compliance with these covenants.

Aggregate maturities of long-term debt during the next five years are as follows: $.3 million for 2013, $.1 million for 2014, $9.2 million for 2015, and $0 thereafter.

Interest paid was $.9 million in 2012, $.8 million in 2011 and $.5 million in 2010.

Guarantees and Letters of Credit

The Company has provided financial guarantees for uncompleted work and financial commitments. The terms of these guarantees vary with end dates ranging from the current year through the completion of such transactions. The guarantees would typically be triggered in the event of nonperformance. As of December 31, 2012, the Company had total outstanding guarantees of $2.2 million. Additionally, certain domestic and foreign customers require the Company to issue letters of credit or performance bonds as a condition of placing an order. As of December 31, 2012, the Company had total outstanding letters of credit of $7.7 million.

X

- Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20,22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20, 22

-Article 5



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name:	us-gaap_DebtDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration