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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Long Term Debt [Abstract] |
Long-Term Debt | LONG-TERM DEBT
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Current Portion of Long-Term Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate Credit Facility | US | $ | 704 |  | US | $ | — |  |  | $ | 896 |  |  | $ | — |
Long-Term Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior Credit Facility | US | $ | 74,650 |  | US | $ | — |  |  | $ | 95,041 |  |  | $ | — |
Real Estate Credit Facility |  |  | 9,797 |  |  |  | — |  |  |  | 12,474 |  |  |  | — |
Unsecured Senior Notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
6.5% senior notes due 2021 |  |  | — |  |  |  | 90,625 |  |  |  | — |  |  |  | 117,678 |
7.75% senior notes due 2023 |  |  | 285,734 |  |  |  | 344,845 |  |  |  | 363,782 |  |  |  | 447,792 |
5.25% senior notes due 2024 |  |  | 263,205 |  |  |  | 307,690 |  |  |  | 335,099 |  |  |  | 399,545 |
7.125% senior notes due 2026 |  |  | 347,765 |  |  |  | 369,735 |  |  |  | 442,757 |  |  |  | 480,112 |
| US | $ | 981,151 |  | US | $ | 1,112,895 |  |  |  | 1,249,153 |  |  |  | 1,445,127 |
Less net unamortized debt issue costs |  |  |  |  |  |  |  |  |  |  | (12,943 | ) |  |  | (17,946 | )
|  |  |  |  |  |  |  |  |  | $ | 1,236,210 |  |  | $ | 1,427,181 |
|  | Senior Credit Facility |  |  | Unsecured Senior Notes |  |  | Real Estate Credit Facility |  |  | Debt Issue Costs |  |  | Total |
Balance December 31, 2018 |  | $ | — |  |  | $ | 1,729,351 |  |  | $ | — |  |  | $ | (23,098 | ) |  | $ | 1,706,253 |
Changes from financing cash flows: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redemption / repurchase of unsecured senior notes |  |  | — |  |  |  | (198,387 | ) |  |  | — |  |  |  | — |  |  |  | (198,387 | )
Non-cash changes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on redemption / repurchase of unsecured senior notes |  |  | — |  |  |  | (6,815 | ) |  |  | — |  |  |  | — |  |  |  | (6,815 | )
Amortization of debt issue costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,152 |  |  |  | 5,152 |
Foreign exchange adjustment |  |  | — |  |  |  | (79,022 | ) |  |  | — |  |  |  | — |  |  |  | (79,022 | )
Balance December 31, 2019 |  |  | — |  |  |  | 1,445,127 |  |  |  | — |  |  |  | (17,946 | ) |  |  | 1,427,181 |
Changes from financing cash flows: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redemption / repurchase of unsecured senior notes |  |  | — |  |  |  | (240,793 | ) |  |  | — |  |  |  | — |  |  |  | (240,793 | )
Repayment of long-term debt |  |  | (37,243 | ) |  |  | — |  |  |  | (76 | ) |  |  | — |  |  |  | (37,319 | )
Proceeds from Senior Credit Facility |  |  | 137,255 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 137,255 |
Proceeds from Real Estate Credit Facility |  |  | — |  |  |  | — |  |  |  | 13,811 |  |  |  | — |  |  |  | 13,811 |
Addition of debt issue costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (354 | ) |  |  | (354 | )
Non-cash changes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on redemption / repurchase of unsecured senior notes |  |  | — |  |  |  | (43,814 | ) |  |  | — |  |  |  | — |  |  |  | (43,814 | )
Amortization of debt issue costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,350 |  |  |  | 5,350 |
Reclassified to current portion of long-term debt |  |  | — |  |  |  | — |  |  |  | (896 | ) |  |  | — |  |  |  | (896 | )
Foreign exchange adjustment |  |  | (4,971 | ) |  |  | (18,882 | ) |  |  | (365 | ) |  |  | 7 |  |  |  | (24,211 | )
Balance December 31, 2020 |  | $ | 95,041 |  |  | $ | 1,141,638 |  |  | $ | 12,474 |  |  | $ | (12,943 | ) |  | $ | 1,236,210 |
Current and Long-Term Debt Obligations | Precision’s current and long-term debt obligations at December 31, 2020 will mature as follows:
2021 |  | $ | 896 |
2022 |  |  | 896 |
2023 |  |  | 459,719 |
2024 |  |  | 335,995 |
Thereafter |  |  | 452,543 |
|  | $ | 1,250,049 |
Disclosure of Listing of Currently Applicable Restrictive and Financial Covenants Explanatory | Following is a listing of the currently applicable restrictive and financial covenants as at December 31, 2020:
|  | Covenant |  | At December 31, 2020 |
Senior Credit Facility |  |  |  |  |  |
Consolidated senior debt to consolidated covenant EBITDA(1) |  | ≤ 2.50 |  |  | 0.23 |
Consolidated covenant EBITDA to consolidated interest expense |  | ≥ 1.75 |  |  | 2.68 |
Real Estate Credit Facility |  |  |  |  |  |
Consolidated covenant EBITDA to consolidated interest expense |  | ≥ 1.75 |  |  | 2.68 |
Unsecured Senior Notes |  |  |  |  |  |
Consolidated interest coverage ratio |  | ≥ 2.00 |  |  | 2.57 |
(1) For purposes of calculating the leverage ratio consolidated senior debt only includes secured indebtedness.

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