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Indebtedness | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Indebtedness | INDEBTEDNESS Following is a summary of the Company’s debt, net of unamortized debt issuance costs:
(In Thousands)1 | September 30, 2017 |  | December 31, 2016
DAMI Credit Facility | $ | — |  |  | $ | 47,302 |
Revolving Facility | — |  |  | — |
Senior Unsecured Notes, 3.95%, Due in Installments through April 2018 | 24,986 |  |  | 49,975 |
Term Loan, Due in Installments through September 2022 | 99,018 |  |  | 94,626 |
Senior Unsecured Notes, 4.75%, Due in Installments through April 2021 | 239,621 |  |  | 299,562 |
Capital Lease Obligation: |  |  |
with Related Parties | 1,777 |  |  | 3,095 |
with Unrelated Parties | 7,289 |  |  | 3,269 |
Total Debt | 372,691 |  |  | 497,829 |
Less: Current Maturities | 98,693 |  |  | 146,515 |
Long-Term Debt | $ | 273,998 |  |  | $ | 351,314 |
1 Total debt as of September 30, 2017 includes unamortized debt issuance costs of $1.4 million. The Company has also recorded $3.3 million of debt issuance costs related to the revolving credit facility within prepaid expenses and other assets in the condensed consolidated balance sheets. Revolving Credit and Term Loan Agreement On September 18, 2017, the Company entered into a second amended and restated revolving credit and term loan agreement (the "Amended Agreement") to, among other things, (i) increase the maximum revolving credit commitment from $225.0 million to $400.0 million (including increases in the existing letter of credit subfacility from $20.0 million to $35.0 million); (ii) provide for a $100.0 million term loan facility, an increase of $15.6 million from the $84.4 million remaining principal on the previous $125.0 million term loan, which is prepayable without penalty; (iii) amend the interest rate to bear interest at an adjusted London Interbank Overnight (LIBO) rate plus a margin within a range of 1.25% to 2.25% depending on the Company’s total net debt to earnings before interest, taxes, depreciation, and amortization ("EBITDA") ratio or, alternatively, the administrative agent's prime rate plus a margin ranging from 0.25% to 1.25%, with the amount of such margin determined based upon the ratio of the Company's total net debt to EBITDA, for loans based on the base rate; (iv) provide for quarterly term loan repayment installments of $2.5 million, payable on the last day of each March, June, September, and December; and (v) extend the maturity date from December 9, 2019 to September 18, 2022. The increases to the Company’s revolving credit availability and term loan facility are intended for general working capital needs and was used to fully repay and terminate the DAMI credit facility in September 2017. The Amended Agreement also provides for an uncommitted incremental facility increase option which, subject to certain terms and conditions, permits the Company at any time prior to the maturity date to request an increase in extensions of credit available thereunder (whether through additional term loans and/or revolving credit commitments or any combination thereof) by an aggregate additional principal amount of up to the greater of $250.0 million or any amount provided that the incremental borrowing does not result in a total debt to adjusted EBITDA ratio greater than 2.50:1.00, with such additional credit extensions provided by one or more lenders thereunder at their sole discretion. The Company pays a commitment fee on unused balances, which ranges from 0.15% to 0.30% as determined by the Company's ratio of total debt to adjusted EBITDA. As of September 30, 2017, $400.0 million was available for borrowings under the revolving credit component of the Amended Agreement. The revolving credit and term loan agreement contains financial covenants, which include requirements that the Company maintain ratios of (i) adjusted EBITDA plus lease expense to fixed charges of no less than 2.50:1.00 and (ii) total debt to adjusted EBITDA of no greater than 3.00:1.00. In each case, adjusted EBITDA refers to the Company’s consolidated net income before interest and tax expense, depreciation (other than lease merchandise depreciation), amortization expense, and other cash and non-cash charges as defined in the Amended Agreement. As of September 30, 2017, the Company was in compliance with all covenants related to its outstanding debt. See further discussion of Company indebtedness in Note 7 to the consolidated financial statements in the 2016 Annual Report. The Company used the $15.6 million incremental increase in the term loan facility plus existing cash on hand to fully repay and terminate the $53.0 million of outstanding borrowings under its DAMI credit facility, which was scheduled to mature on October 15, 2017. The Company concluded that the Amended Agreement constituted a debt modification and will defer the remaining unamortized debt issuance costs of $1.7 million over the term of the Amended Agreement. In connection with the Amended Agreement, the Company incurred $2.8 million of lender fees and third party legal and administrative fees, of which $0.2 million was recorded as interest expense within the condensed consolidated statements of earnings for the three and nine months ended September 30, 2017.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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