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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2014
Summary of Long Term Debt | Long-term debt of the Company at December 31, 2014 and 2013 is summarized as follows:
|  | 2014 |  |  | 2013 |
Revolving line of credit(a) |  | $ | 99,400 |  |  | $ | 51,550 |
Notes payable |  |  | 126 |  |  |  | 195 |
|  |  | 99,526 |  |  |  | 51,745 |
Less current installments |  |  | (71 | ) |  |  | (69 | )
|  | $ | 99,455 |  |  | $ | 51,676 |
a) | On July 11, 2014, AMVAC Chemical Corporation (“AMVAC”), our principal operating subsidiary, as borrower, and affiliates (including the Company), as guarantors and/or borrowers, entered into a First Amendment to Second Amended and Restated Credit Agreement (the “First Amendment”) with a group of commercial lenders led by Bank of the West (AMVAC’s primary bank) as agent, swing line lender and L/C issuer. The First Amendment amends the Second Amended and Restated Credit Agreement (“2013 Credit Agreement”) dated as of June 17, 2013. Under the terms of the First Amendment, the Consolidated Funded Debt Ratio was increased for the third and fourth quarters of 2014 and the first quarter of 2015, and, further, borrowers are permitted to pay cash dividends to shareholders during the first and second quarters of 2015, notwithstanding prior levels of net income. The 2013 Credit Agreement, as amended by the First Amendment (the “Credit Agreement”) is a senior secured lending facility with a five year term and consisting of a revolving line of credit of $200 million and an accordion feature for up to $100 million. The Credit Agreement includes both AMVAC CV and AMVAC BV as borrowers. Under the Credit Agreement, revolving loans bear interest at a variable rate based, at borrower’s election with proper notice, on either (i) LIBOR plus the “Applicable Rate” which is based upon the Consolidated Funded Debt Ratio (“Eurocurrency Rate Loan”) or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month LIBOR Rate plus 1.00%, plus, in the case of (x), (y) or (z) the Applicable Rate (“Alternate Base Rate Loan”). Interest payments for Eurocurrency Rate Loans are payable on the last day of each interest period (either one, two, three or six months, as selected by the borrower) and the maturity date, while interest payments for Alternate Base Rate Loans are payable on the last business day of each month and the maturity date. The senior secured revolving line of credit matures on June 17, 2018.
Payments on Long-term Debt Details | Approximate principal payments on long-term debt at December 31, 2014 are as follows:
2015 |  | $ | 71 |
2016 |  |  | 55 |
2017 |  |  | — |
2018 |  |  | 99,400 |
|  | $ | 99,526 |
Amount of Outstanding Debt and Notional Amount on Interest Rate Swap Contract | The table below shows the amount of outstanding debt and the related notional amount on the interest rate swap contract at each of the balance sheet dates:
|  | Outstanding Variable Rate Debt |  |  | Notional Amount on Interest Rate Swap |
At December 31, 2012 |  | $ | 46,000 |  |  | $ | 44,250 |
At December 31, 2013 |  |  | 51,550 |  |  |  | 36,750 |
At December 31, 2014 |  |  | 99,400 |  |  |  | — |
Summary of Short-Term and Long-Term Loan Balances in the Consolidated Balance Sheets | The Company has various loans in place that together constitute the short-term and long-term loan balances shown in the consolidated balance sheets at December 31, 2014 and December 31, 2013. These are summarized in the following table:
Indebtedness |  | December 31, 2014 |  |  | December 31, 2013 |
$000’s |  | Long-term |  |  | Short-term |  |  | Total |  |  | Long-term |  |  | Short-term |  |  | Total |
Revolving line of credit |  | $ | 99,400 |  |  | $ | — |  |  | $ | 99,400 |  |  | $ | 51,550 |  |  | $ | — |  |  | $ | 51,550 |
Notes payable |  |  | 55 |  |  |  | 71 |  |  |  | 126 |  |  |  | 126 |  |  |  | 69 |  |  |  | 195 |
Total indebtedness |  | $ | 99,455 |  |  | $ | 71 |  |  | $ | 99,526 |  |  | $ | 51,676 |  |  | $ | 69 |  |  | $ | 51,745 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959 + Details
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