Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt consists of the following amounts as of (in thousands):



	December 31, 2016		December 31, 2015
Current portion of Senior Credit Facility—Working Capital Line ^{(1) (2)}	$	29,000	$	22,500
Current portion of Senior Credit Facility—Acquisition Line⁽²⁾	22,287		5,306
Current portion of Note Payable - Pacific Summit Energy	15,501		—
Convertible subordinated notes to affiliate	6,582		—
Total current debt	73,370		27,806
Long-term portion of Senior Credit Facility—Acquisition Line ⁽¹⁾	—		14,592
Subordinated Debt	5,000		—
Convertible subordinated notes to affiliate	—		6,339
Total long-term debt	5,000		20,931
Total debt	$	78,370	$	48,737


(1)	As of December 31, 2016 and 2015, the Company had $29.6 million and $21.5 million in letters of credit issued, respectively.


(2)	As of December 31, 2016 and 2015, the weighted average interest rate on the current portion of our Senior Credit Facility was 4.93% and 3.90%, respectively.

(3)

On October 5, 2016, RAC issued to the Company an irrevocable commitment to convert the CenStar Note and the Oasis Note into shares of Class B common stock on January 8, 2017 and January 31, 2017, respectively. RAC assigned the CenStar Note and Oasis Note to Retailco on January 4, 2017, and on January 8, 2017 and January 31, 2017, the CenStar Note and Oasis Note were converted into 134,731 and 383,090 shares of Class B common stock, respectively.

Components of Interest Expense

Interest expense consists of the following components for the periods indicated (in thousands):



	Years Ended December 31,
	2016		2015		2014
Interest incurred on Senior Credit Facility⁽¹⁾	$	1,730	$	1,144	$	418
Accretion related to Earnouts ⁽²⁾	5,059		—		—
Commitment fees	180		160		144
Letters of credit fees	704		357		385
Amortization of deferred financing costs⁽³⁾	668		412		631
Interest incurred on convertible subordinated notes to affiliate⁽⁴⁾	518		207		—
Interest expense	$	8,859	$	2,280	$	1,578

(1) Includes interest expense attributed to other revolving credit facilities prior to the IPO.

(2) Includes accretion related to the Provider Earnout of $0.1 million and the Major Earnout of $4.9 million for the year ended December 31,

2016.


(3)	Write offs of deferred financing costs included in the above amortization were $0.1 million in connection with the amended and restated Senior Credit Facility on July 8, 2015, $0.3 million upon extinguishment of the Seventh Amended Credit Facility and $0.1 million in connection with the execution of the Seventh Amended Credit Facility for the years ended December 31, 2015 and 2014, respectively.

(4) Includes amortization of the discount on the convertible subordinated notes to affiliates of $0.2 million and less than $0.1 million for the

years ended December 31, 2016 and 2015.