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Long-Term Debt | 3 Months Ended
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Mar. 31, 2018
Debt Disclosure [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT Our long-term debt consisted of the following at December 31, 2017 and March 31, 2018 (in thousands):
| December 31, 2017 |  | March 31, 2018
Revolving credit facility, secured, floating rate | $ | 92,000 |  |  | $ | 84,200 |
Term loan, secured, floating rate | 127,500 |  |  | 123,750 |
Acquisition debt | 10,548 |  |  | 10,212 |
Debt issuance costs, net of accumulated amortization of $4,442 and $4,518, respectively | (967 | ) |  | (891 | )
Less: current portion | (16,927 | ) |  | (16,996 | )
Total long-term debt | $ | 212,154 |  |  | $ | 200,275 |
As of March 31, 2018, we had a $300 million secured credit facility with Bank of America, N.A., as Administrative Agent (the “Credit Agreement”), comprised of a $150 million revolving credit facility and a $150 million term loan (collectively, the “Credit Facility”). The Credit Facility also contains an accordion provision to borrow up to an additional $75 million in revolving loans, subject to certain conditions. The Credit Facility matures on February 9, 2021 and is collateralized by all personal property and funeral home real property in certain states. As of March 31, 2018, we had outstanding borrowings under the revolving credit facility of $84.2 million and approximately $123.8 million was outstanding on the term loan. We have one letter of credit issued on November 30, 2017 and outstanding under the Credit Facility for approximately $2.0 million, which bears interest at 2.125% and will expire on November 26, 2018. The letter of credit automatically renews annually and secures our obligations under our various self-insured policies. Outstanding borrowings under the Credit Facility bear interest at either a prime rate or a LIBOR rate, plus an applicable margin based upon our leverage ratio. As of March 31, 2018, the prime rate margin was equivalent to 1.625% and the LIBOR margin was 2.625%. The weighted average interest rate on the Credit Facility for the three months ended March 31, 2018 was 3.9%. We were in compliance with the covenants contained in the Credit Agreement as of March 31, 2018. The Credit Agreement contains key ratios that we must comply with, including a requirement to maintain a leverage ratio of no more than 3.50 to 1.00 and a covenant to maintain a fixed charge coverage ratio of no less than 1.20 to 1.00. As of March 31, 2018, the leverage ratio was 2.96 to 1.00 and the fixed charge coverage ratio was 2.04 to 1.00. Amortization of debt issuance costs related to our Credit Facility was approximately $0.1 million for both the three months ended March 31, 2017 and 2018, respectively. The unamortized debt issuance costs related to the Credit Facility are being amortized over the remaining term of the related debt using the effective interest method for our term loan and the straight-line method for our revolving credit facility. Acquisition debt consists of deferred purchase price and promissory notes payable to sellers.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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