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DEBT | 3 Months Ended
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Mar. 31, 2014
DEBT [Abstract] |
DEBT |
10. | DEBT
The Company currently has debt pursuant to various credit facilities and other borrowings. The Company's book value for both the individual and consolidated debt included in the table below approximates fair value. The estimated fair value of our debt is based on interest rates available for debt with similar terms and remaining maturities. The Company has classified these instruments as Level 2 in the fair value hierarchy. The following table summarizes the Company's debt arrangements:
Facility or Arrangement |  | Original Principal Amount |  | Balance as of March 31, 2014(1) |  | Balance as of December 31, 2013 |  | Interest Rate |  | Repayment terms
Multi-currency uncommitted shelf facility(2): |  |  |  |  |  |  |  |  |  |
U.S. dollar denominated: |  | $40.0 million | $ | 17.1 million | $ | 17.1 million |  | 6.2 % |  | Notes due July 2016 with annual principal payments that began in July 2010.
|  | $20.0 million | $ | 8.6 million | $ | 11.4 million |  | 6.2 % |  | Notes due January 2017 with annual principal payments that began in January 2011.
Japanese yen denominated: |  | 3.1 billion yen |  | 0.4 billion yen or $4.3 million |  | 0.4 billion yen or $4.1 million |  | 1.7 % |  | Notes due April 2014 with annual principal payments that began in April 2008.(3)
|  | 2.3 billion yen |  | 1.3 billion yen or $12.6 million |  | 1.3 billion yen or $12.3 million |  | 2.6 % |  | Notes due September 2017 with annual principal payments that began in September 2011.
|  | 2.2 billion yen |  | 0.9 billion yen or $9.0 million |  | 1.2 billion yen or $11.8 million |  | 3.3 % |  | Notes due January 2017 with annual principal payments that began in January 2011.
|  | 8.0 billion yen |  | 8.0 billion yen or $77.3 million |  | 8.0 billion yen or $75.8 million |  | 1.7 % |  | Notes due May 2022 with annual principal payments that begin in May 2016.
Revolving credit facilities(4)(5): |  |  |  |  |  |  |  |  |  |
2010 |  |  |  | $35.0 million |  | $35.0 million |  | Variable 30 day: 0.66% |  | Revolving line of credit.
2013 |  |  |  | $34.0 million |  | $14.0 million |  | Variable 30 day: 0.5843% |  | Revolving line of credit.
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(1) | The current portion of the Company's debt (i.e. becoming due in the next 12 months) includes $10.4 million of the balance of its Japanese yen-denominated debt under the multi-currency uncommitted shelf facility, $8.6 million of the balance on its U.S. dollar denominated debt under the multi-currency uncommitted shelf facility and $69.0 million of the Company's revolving loans.
(2) | On May 6, 2014, the Company entered into a third amendment of the amended and restated note purchase and private shelf agreement (multi-currency), dated as of May 25, 2012, among the Company, Prudential Investment Management, Inc. and certain other purchasers. The amendment modified the restricted payments covenant to allow the aggregate amount of restricted payments to exceed the allowed threshold by no more than $50 million for the quarter ending March 31, 2014, $100 million for the quarter ending June 30, 2014 and $50 million for the quarter ending September 30, 2014, to avoid default or acceleration provisions of the agreement.
(3) | On April 30, 2014, the Company paid the notes in full.
(4) | On April 9, 2014, the Company entered into an additional 364 day revolving line of credit with Bank of America, N.A. with a commitment amount of $50 million. The interest rate is equal to 1 month LIBOR plus 95.0 basis points.
(5) | On May 6, 2014, the Company entered into a fifth amendment of the amended and restated credit agreement, dated as of May 25, 2012, among the Company, various financial institutions, and JPMorgan Chase Bank, N.A. as administrative agent. The amendment modified the restricted payments covenant to allow the aggregate amount of restricted payments to exceed the allowed threshold by no more than $50 million for the quarter ending March 31, 2014, $100 million for the quarter ending June 30, 2014 and $50 million for the quarter ending September 30, 2014, to avoid default or acceleration provisions of the agreement. The amendment also fixed the applicable interest rate at LIBOR plus 0.75%, increased the commitment fee to 0.25% and extended the term of the agreement from May 9, 2014 to August 8, 2014, with $15 million reductions in the commitment amount on June 30, 2014 and July 31, 2014.

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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 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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