XML 39 R23.htm IDEA: XBRL DOCUMENT v3.19.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Maturities of Long-term Debt The amount payable in each year as of March 31, 2019 is set forth in the table below (in thousands):

 

2019

$

4,688

 

2020

 

9,375

 

2021

 

12,500

 

2022

 

12,500

 

2023

 

15,625

 

Thereafter

 

68,750

 

Total principal payments

$

123,438

 

 
Summary of Company’s Total Outstanding Borrowings

The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands):

 

Description:

March 31, 2019

 

December 31, 2018

 

Term loan facility (1)

$

123,438

 

$

—

 

Revolving credit facility (1) (2)

 

30,000

 

 

—

 

Principal amount outstanding (3)

 

153,438

 

 

—

 

Less: Deferred financing fees

 

(2,679

)

 

—

 

Net balance sheet carrying amount

$

150,759

 

$

—

 

 

(1)

The contractual annualized interest rate as of March 31, 2019 on the Term loan facility and the Revolving Credit Facility was 5.0%, which consisted of LIBOR of 2.5% plus a margin of 2.5%.

(2)

The Company had $45.0 million of available borrowing capacity on the revolver (not including the expansion feature) as of March 31, 2019.

(3)

The weighted average annual effective rates on the Company's total debt outstanding for the three months ended March 31, 2019, was 5.0%.