XML 39 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
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)
June 30,
2020
 
December 31,
2019
Term loan A-1
$
244,004

 
$
258,571

Term loan A-2
470,975

 
473,469

 
714,979

 
732,040

Less: unamortized loan fees
10,689

 
11,926

Total debt, net of unamortized loan fees
$
704,290

 
$
720,114
Financial Covenants in Credit Agreements
As shown below, as of June 30, 2020, the Company was in compliance with the financial covenants in its credit agreements.
 
 
Actual
 
Covenant Requirement
Total leverage ratio
2.3

 
3.25
or Lower
Debt service coverage ratio
5.7

 
2.00
or Higher
Minimum liquidity balance (in millions)
$
218.5

 
$25.0
or Higher