Debt (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Current and Noncurrent Portions of External Debt Facilities

The following table reflects the current and noncurrent portions of the external debt facilities at December 31, 2019 and September 30, 2020 (in thousands):

	December 31,			September 30,
	2019			2020
				(unaudited)
Term loan facility	$	65,250		$	57,750
Less debt issuance costs		(1,638	)		(1,228	)
Total debt		63,612			56,522
Less current portion of term facility		(10,000	)		(10,000	)
Current portion of debt issuance costs		546			546
Total long-term external debt, net	$	54,158		$	47,068

Schedule of Maturities on External Debt Outstanding

Maturities on the external debt outstanding at September 30, 2020 is as follows (unaudited and in thousands):

Year ending December 31,
2020 (October - December)	$	2,500
2021		10,000
2022		45,250
Total	$	57,750

Schedule of Current Debt Compliance with Covenant

The Company’s current debt covenant requirements for the next four quarters reflect the following limits, based on the time period noted, for compliance with the covenant.:

		Quarter ending
Covenant	Criteria		December 31, 2020	March 31, 2021	June 30, 2021	September 30, 2021
Monthly minimum adjusted quick ratio	Min ratio	Non quarter-end months 1.00:1.00 Quarter-end months 1.15:1.00
Quarterly consolidated fixed charge coverage ratio	Min ratio		1.25:1.00	1.25:1.00	1.25:1.00	1.25:1.00
Quarterly consolidated fixed charge coverage ratio	Time period	Trailing twelve-month
Quarterly consolidated leverage ratio	Max ratio		2.50:1.00	2.25:1.00	2.25:1.00	2.00:1.00
Quarterly consolidated leverage ratio	Time period	Trailing twelve-month