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Long-Term Debt and Short-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Summary of Long-Term Debt and Short-Term Debt

Long-term debt and short-term debt at March 31, 2016 and December 31, 2015 consisted of the following:

 

            Restated  
     March 31,      December 31,  
     2016      2015  

Borrowings under our $575.0 million Senior Secured Term Loan B bearing interest the greater of 1% or 3 month LIBOR (0.63% at March 31, 2016) plus an applicable margin of 4.75% at March 31, 2016, expiring October 19, 2022, net of debt issuance costs of $20.1 million.

      552,038         552,957   

Borrowings under our $100.0 million Senior Secured Revolver bearing interest at LIBOR (0.43% at March 31, 2016) plus an applicable margin of 3.50% at March 31, 2016, expiring October 19, 2020, net of debt issuance costs of $2.8 million.

      15,211         3,547   

Borrowings under our $250.0 million Senior Notes bearing interest at 10.25%, maturing on November 1, 2020, net of debt issuance costs of $5.7 million.

      244,330         244,088   

French Safeguard Obligations (Autocam)

      507         2,000   

Brazilian lines of credit and equipment notes (Autocam)

      812         826   

Chinese line of credit (Autocam)

      3,721         3,696   
  

 

 

     

 

 

  

Total debt

      816,619         807,114   

Less current maturities of long-term debt

      11,947         11,714   
  

 

 

     

 

 

  

Long-term debt, excluding current maturities of long-term debt

    $ 804,672       $ 795,400   
  

 

 

     

 

 

  
Schedule of Debt Restated for Adoption of New Accounting Standard

The debt issuance costs were reclassified from other non-current assets and directly applied to the associated liability.

 

     Audited
December 31,
2015		      ASU 2015-13
Reclass		      Restated
December 31,
2015		  

Borrowings under our $575.0 million Senior Secured Term Loan B

    $ 562,580       $ (9,623 )     $ 552,957   

Borrowings under our $100.0 million Senior Secured Revolver

      6,462         (2,915 )       3,547   

Borrowings under our $250.0 million Senior Notes

      244,509         (421 )       244,088   

French Safeguard Obligations (Autocam)

      2,000            2,000   

Brazilian lines of credit and equipment notes (Autocam)

      826            826   

Chinese line of credit (Autocam)

      3,696            3,696   
  

 

 

        

 

 

  

Total debt

      820,073            807,114   

Less current maturities of long-term debt

      11,714            11,714   
  

 

 

        

 

 

  

Long-term debt, excluding current maturities of long-term debt

      808,359            795,400