XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Long-Term Debt | 6 Months Ended
--- | ---
Jun. 30, 2020
Long-Term Debt [Abstract] |
Long-Term Debt | NOTE 5. LONG-TERM DEBT Long-term debt as of June 30, 2020 and December 31, 2019, was as follows:
|  | June 30, 2020 |  | December 31, 2019
Revolving credit facility (a) |  | $ | 9,566 |  | $ | 22,670
Foreign credit facilities (b) |  |  | 955 |  |  | -
Term note (c) |  |  | 20,000 |  |  | -
|  |  | 30,521 |  |  | 22,670
Less current portion |  |  | (4,000) |  |  | -
|  | $ | 26,521 |  | $ | 22,670
(a)As of June 30, 2020, the Company had drawn $9,566 on the $60,000 revolving commitment that was available under the credit agreement with JPMorgan Chase Bank, N.A., with a maturity date of May 3, 2024. The Company pays interest monthly on any borrowings on the Credit Agreement. As of June 30, 2020 and December 31, 2019, the rate was 1.7500% and 3.3125%, respectively. The Credit Agreement contains restrictions on the Company’s ability to pay dividends or make distributions or other restricted payments if certain conditions in the Credit Agreement are not fulfilled. The Credit Agreement also includes other customary affirmative and negative covenants, including financial covenants relating to the Company’s consolidated total leverage ratio and fixed charge coverage ratio. The Company was in compliance with the debt covenants set forth in the Credit Agreement as of June 30, 2020. (b)A foreign subsidiary of the Company has a revolving credit facility with a financial institution which matures on March 31, 2022. The foreign subsidiary pays interest monthly on any borrowings on the credit facility. As of June 30, 2020, the rate was 1.3864%. (c)Under the Credit Agreement, the Company had access to a term loan facility that would be available for drawdown until May 3, 2020. On April 30, 2020, the Company borrowed $20,000 under such term loan facility and used the proceeds to pay down amounts outstanding under the revolving portion of the Credit Agreement. The Company is required to repay the term loan through quarterly payments of $1,000 each beginning with September 30, 2020, and any remaining obligations will be repaid in full on the maturity date of the Credit Agreement of May 3, 2024. The Company pays interest monthly on any borrowings on the Credit Agreement. As of June 30, 2020, the rate was 1.6875%.

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 long-term debt. + 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_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration