XML 30 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2013
Schedule of Long-Term Debt

Our long-term debt consists of the following:

 

     March 31,      December 31,  
     2013      2012  
     (In Thousands)  

Working Capital Revolver Loan (A)

    $ —         $ —     

Secured Term Loan (B)

      67,500         68,438   

Secured Promissory Note (C)

      34,456         —     

Other, with a current weighted-average interest rate of 6.82%, most of which is secured by machinery, equipment and real estate

      3,804         4,003   
  

 

 

     

 

 

  
     105,760         72,441   

Less current portion of long-term debt

      11,304         4,798   
  

 

 

     

 

 

  

Long-term debt due after one year

    $ 94,456       $ 67,643   
  

 

 

     

 

 

  
Schedule of Stated Interest Rate on Secured Term Loan
(B) ThermaClime and certain of its subsidiaries are parties to a term loan agreement (the “Secured Term Loan”). The Secured Term Loan matures on March 29, 2016. The Secured Term Loan requires quarterly principal payments of approximately $0.9 million, plus interest and a final balloon payment of $56.3 million due on March 29, 2016. The stated interest rate on the Secured Term Loan includes a variable interest rate (based on three-month LIBOR plus 300 basis points, a rate that is adjusted quarterly) and a fixed interest rate as detailed below:

 

     March 31, 2013  
     Stated Interest     Principal  
     Rate     Balance  
     (Dollars in Thousands)  

Variable interest rate

      3.28 %    $ 45,000   

Fixed interest rate

      5.15 %      22,500   
    

 

 

  

Weighted-average interest rate

      3.91 %    $ 67,500