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Debt and Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Net Carrying Amount of Debt

The Company’s net carrying amount of debt is comprised of the following:

		December 31,			December 31,
($ in thousands)		2020			2019
Term loan debt		$	16,750		$	19,000
Unamortized deferred finance costs related to term loan			(112)			(179)
Total			16,638			18,821
Current portion of long-term debt			2,800			2,250
Long-term debt		$	13,838		$	16,571

Maturities of Long-term Debt

The remaining principal balance of the Term Loans, as amended, outstanding at December 31, 2020 is payable in fixed installments as set forth in the following table, plus the variable payments as described below:

($ in thousands)
Installment Payment Dates		Amount
March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021		$	700
March 31, 2022, June 30, 2022, September 30, 2022, and December 31, 2022		$	1,125
March 31, 2023, June 30, 2023, September 30, 2023, and December 31, 2023		$	1,250

Thus, the aggregate remaining annual principal payments under the Term Loans at December 31, 2020 were as follows:

		Amount of
($ in thousands)		Principal
Year Ending December 31,		Payment
2021		$	2,800
2022			8,950
2023			5,000
Total		$	16,750

Schedule of Fixed Charge Coverage Ratios and Leverage Ratios

Fiscal Quarter End		Fixed Charge Coverage Ratio
December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021		1.25 to 1.00
March 31, 2022, and thereafter		1.10 to 1.00

Fiscal Period		Maximum Leverage Ratio
December 31, 2020		3.50 to 1.00
March 31, 2021		3.15 to 1.00
June 30, 2021		3.00 to 1.00
September 30, 2021		2.75 to 1.00
December 31, 2021		2.50 to 1.00
March 31, 2022 and each Fiscal Quarter end thereafter		1.50 to 1.00

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