XML 18 R14.htm IDEA: XBRL DOCUMENT
v3.20.1

Long-Term Debt | 3 Months Ended
--- | ---
Mar. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Our syndicated Credit Agreement includes a $75 million, five-year undrawn revolving credit facility, as well as the following outstanding term loans:
(in thousands) | March 31, 2020 |  | December 31, 2019
Term loan A-1 | $ | 251,288 |  |  | $ | 258,571 |
Term loan A-2 | 472,221 |  |  | 473,469 |
| 723,509 |  |  | 732,040 |
Less: unamortized loan fees | 11,306 |  |  | 11,926 |
Total debt, net of unamortized loan fees | $ | 712,203 |  |  | $ | 720,114 |
Term Loan A-1 bears interest at one-month LIBOR plus a margin of 1.50%, while Term Loan A-2 bears interest at one-month LIBOR plus a margin of 1.75%. LIBOR resets monthly. Our cash payments for interest were $5.8 million and $7.2 million during the three months ended March 31, 2020 and 2019, respectively. As shown below, as of March 31, 2020, the Company was in compliance with the financial covenants in its credit agreements.
| Actual |  | Covenant Requirement
Total leverage ratio | 2.41 |  |  | 3.25 | or Lower
Debt service coverage ratio | 5.48 |  |  | 2.00 | or Higher
Minimum liquidity balance (in millions) | $ | 195.0 |  |  | $25.0 | or Higher

X
- References No definition available. + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration