XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.20.2

Debt | 9 Months Ended
--- | ---
Sep. 30, 2020
Debt [Abstract] |
Debt | 6. Debt
|  | As of Sep. 30, 2020 |  |  | As of Dec. 31, 2019 |
10.05% Senior Notes, Series C, due 2020 |  | $ | – |  |  | $ | 6,500 |
8.43% Senior Notes, Series D, due 2022 |  |  | 7,500 |  |  |  | 7,500 |
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 |  |  | 12,000 |  |  |  | 12,000 |
3.00% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series A of 2019, due 2036 |  |  | 10,500 |  |  |  | 10,500 |
3.10% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series B of 2019, due 2038 |  |  | 14,870 |  |  |  | 14,870 |
3.23% Senior Notes, due 2040 |  |  | 15,000 |  |  |  | 15,000 |
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 |  |  | 10,000 |  |  |  | 10,000 |
4.54% Senior Notes, due 2049 |  |  | 20,000 |  |  |  | 20,000 |
3.24% Senior Notes, due 2050 |  |  | 30,000 |  |  |  | – |
Committed Line of Credit, due 2022 |  |  | – |  |  |  | 7,672 |
Total long-term debt |  |  | 119,870 |  |  |  | 104,042 |
Less discount on issuance of long-term debt |  |  | (184 | ) |  |  | (192 | )
Less unamortized debt issuance costs |  |  | (2,857 | ) |  |  | (2,815 | )
Less current maturities |  |  | – |  |  |  | (6,500 | )
Long-term portion |  | $ | 116,829 |  |  | $ | 94,535 |
In the third quarter of 2020, the Company entered into an agreement for a $50,000 unsecured, committed line of credit maturing in September 2022 at an interest rate of LIBOR plus 1.05% with an unused commitment fee and an interest rate floor. Simultaneously, the Company paid off and terminated all prior existing line of credit agreements. On September 30, 2020, the Company entered into a note purchase agreement with certain institutional investors relating to the private placement of $30,000 aggregate principal amount of the Company’s senior notes. The senior notes bear interest at 3.24% per annum payable semiannually and mature on September 30, 2050. The senior notes are unsecured and unsubordinated obligations of the Company. The Company received net proceeds, after deducting issuance costs, of approximately $29,838. The net proceeds were used to refinance the $6,500 aggregate principal amount of the Company’s 10.05% Senior Notes, Series C, due September 30, 2020, to refinance line of credit borrowings incurred by the Company as interim financing for various capital projects, to fund acquisitions and for general corporate purposes.

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