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Long-Term Debt | 6 Months Ended
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Aug. 01, 2020
Long-Term Debt |
Long-Term Debt | (8) Long-Term Debt Long-term debt consisted of the following as of August 1, 2020 and February 1, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | August 1, | ​ | February 1, | ​
​ |  | 2020 |  | 2020 |
Term loan | ​ | $ | 16,000 | ​ | ​ | 30,000 | ​
Less debt issuance costs | ​ | ​ | (99) | ​ | ​ | (283) | ​
​ | ​ | ​ | 15,901 | ​ | ​ | 29,717 | ​
Less current portion, net of discount and debt issuance costs | ​ | ​ | — | ​ | ​ | (5,936) | ​
Long-term portion | ​ | $ | 15,901 | ​ | $ | 23,781 | ​
​ Term Loan On May 23, 2018, Sportsman’s Warehouse, a wholly owned subsidiary of Holdings, as lead borrower, and Wells Fargo, with a consortium of banks led by Wells Fargo, entered into the Amended Credit Agreement. The Amended Credit Agreement governs the Revolving Line of Credit and the Term Loan. The Term Loan was issued at a price of 100% of the aggregate principal amount of $40,000 and has a maturity date of May 23, 2023. Information on the Revolving Line of Credit is provided in Note 7. ​ The Term Loan bears interest at a rate of LIBOR plus 5.75%. The effective rate for the Term Loan as of August 1, 2020 was 6.75% ​ As of August 1, 2020, and February 1, 2020, the Term Loan had an outstanding balance of $16,000 and $30,000, respectively. The outstanding amounts under the Term Loan as of August 1, 2020 and February 1, 2020 are offset on the condensed consolidated balance sheets by debt issuance costs of $99 and $283, respectively. ​ During the 13 and 26 weeks ended August 1, 2020, the Company recognized $110 and $131, respectively, of non-cash interest expense with respect to the amortization of the deferred financing fees. During the 13 and 26 weeks ended August 3, 2019, the Company recognized $21 and $43, respectively, of non-cash interest expense with respect to the amortization of the deferred financing fees. ​ During the 13 weeks ended August 1, 2020, the Company paid the required quarterly payment on the Term Loan of $2,000 and made additional voluntary prepayments of $8,000 on the Term Loan. ​ Restricted Net Assets The provisions of the Term Loan and the Revolving Line of Credit restrict all of the net assets of the Company’s consolidated subsidiaries, which constitute all of the net assets on the Company’s condensed consolidated balance sheet as of August 1, 2020, from being used to pay any dividends without prior written consent from the financial institutions party to the Company’s Term Loan and Revolving Line of Credit.

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- 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
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