XML 39 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Long-term debt at September 30, 2016 and December 31, 2015 consisted of the following:

 

     September 30,      Restated
December 31,		  
     2016      2015  

Borrowings under our $545.0 million Senior Secured Term Loan B bearing interest at the greater of 0.75% or 1 month LIBOR (0.53% at September 30, 2016) plus an applicable margin of 4.25% at September 30, 2016, expiring October 19, 2022, net of debt issuance costs of $21.1 million at September 30, 2016 and $20.6 million at December 31, 2015.

    $ 525,203       $ 552,957   

Borrowings under our $133.0 million Senior Secured Revolver bearing interest at LIBOR (0.53% at September 30, 2016) plus an applicable margin of 3.50% at September 30, 2016, expiring October 19, 2020, net of debt issuance costs of $2.6 million at September 30, 2016 and $2.9 million at December 31, 2015.

      30,405         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 $5.2 million at September 30, 2016 and $5.9 million at December 31, 2015.

      244,822         244,088   

French Safeguard Obligations (Autocam)

      496         2,000   

Brazilian lines of credit and equipment notes (Autocam)

      681         826   

Chinese line of credit (Autocam)

      2,706         3,696   
  

 

 

     

 

 

  

Total debt

      804,313         807,114   

Less current maturities of long-term debt

      8,621         11,714   
  

 

 

     

 

 

  

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

    $ 795,692       $ 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.

 

     Reported
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   
  

 

 

        

 

 

  

 

* Amended from $575 million down to $545 million on September 30, 2016.
** Amended from $100 million up to $133 million on September 30, 2016.