v3.10.0.1

LONG-TERM DEBT AND FINANCING LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Long-term Debt and Financing Lease Obligations [Text Block]

(3)          Long-Term Debt and Financing Lease Obligations

Long-term debt

The Company repaid its term loan during the nine months ended September 30, 2018. Long-term debt consisted of the following at:

(in thousands)		September 30, 2018			December 31, 2017
Real Estate Loan		$	2,744		$	3,581
Term Loan			—			5,515
Less: deferred financing costs			(135)			(224)
Less: current portion of long-term debt			(161)			(940)
Long-term debt, less current portion		$	2,448		$	7,932

The weighted-average interest rate of long-term debt outstanding as of September 30, 2018 and December 31, 2017 was 4.60% and 4.27%, respectively.

The Company is subject to various financial and non-financial covenants on its long-term debt, including a debt-service coverage ratio. As of September 30, 2018, the Company was compliant with all of its covenants.

Financing Lease Obligation

Financing lease obligations consisted of the following at:

(in thousands)		September 30, 2018			December 31, 2017
Financing lease obligation		$	1,303		$	1,576
Less: deferred financing costs			(5)			(13)
Less: current portion of financing lease obligation			(1,298)			(367)
Financing lease obligation, less current portion		$	—		$	1,196

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- References

No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ 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

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