XML 83 R13.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Debt and Credit Arrangements | 12 Months Ended
--- | ---
Dec. 31, 2013
Debt Disclosure [Abstract] |
Debt and Credit Arrangements | Note E – Debt and Credit Arrangements
|  | December 31 |
|  | 2013 |  |  | 2012 |
Short-term debt |  |  |  |  |  |  |  |
Secured notes |  |  |  |  |  |  |  |
Brazilian Real denominated (R$3,808k) at 3.25% to 3.6% due 2014 |  | $ | 1,105 |  |  | $ | 0 |
New Zealand Dollar (NZ$264k) at 1.70% to 5.56% |  |  | 0 |  |  |  | 217 |
Current portion of long-term debt |  |  | 195 |  |  |  | 251 |
Total short-term debt |  |  | 1,300 |  |  |  | 468 |
Long-term debt |  |  |  |  |  |  |  |
USD denominated at 1.29%, due 2017 |  |  | 12,604 |  |  |  | 9,236 |
Australian dollar denominated term loans (A$1,065), at 6.0% (5.83% in 2012), due 2018, secured by land and building |  |  | 570 |  |  |  | 70 |
Brazilian Real denominated term loan (R$918k) at 4.5% to 8.12% due 2014 secured by capital equipment |  |  | 75 |  |  |  | 267 |
Total long-term debt |  |  | 13,249 |  |  |  | 9,573 |
Less current portion |  |  | (195 | ) |  |  | (251 | )
Total long-term debt, less current portion |  |  | 13,054 |  |  |  | 9,322 |
Total debt |  | $ | 14,354 |  |  | $ | 9,790 |
The PLP-USA line of credit makes $50 million available to the Company at an interest rate of LIBOR plus 1.125% with a term expiring January 2017. At December 31, 2013, the interest rate on the line of credit agreement was 1.29%. There was $12.6 million outstanding at December 31, 2013 under the line of credit. On January 23, 2014, we extended the term to January 2017. The line of credit agreement contains, among other provisions, requirements for maintaining levels of working capital, net worth and profitability. At December 31, 2013, the Company was in compliance with these covenants. Aggregate maturities of long-term debt during the next five years are as follows: $.2 million for 2014, $.1 million for 2015, $.1 million for 2016, $12.7 million for 2017, and $.1 million thereafter. Interest paid was $.4 million in 2013, $.9 million in 2012 and $.8 million in 2011. 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, 2013, the Company had total outstanding guarantees of $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, 2013, the Company had total outstanding letters of credit of $4.7 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 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: 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 3: 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 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration