|
Long-Term Debt (Details) (USD $)
|
1 Months Ended |
6 Months Ended |
|
|
|
Mar. 31, 2012
|
Jun. 30, 2012
|
Dec. 31, 2011
|
Jul. 26, 2011
|
| Long-term debt |
|
|
|
|
| Less unamortized discount |
|
$ (4,098,000) |
$ (4,517,000) |
|
| Subtotal |
|
456,002,000 |
483,033,000 |
|
| Less current portion |
|
(16,638,000) |
(4,900,000) |
|
| Long-term debt, net of current portion |
|
439,364,000 |
478,133,000 |
|
|
Amended Credit Facility
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Maximum borrowing capacity |
|
|
|
120,000,000 |
| Increase in effective borrowing rate (as a percent) |
|
0.42% |
|
|
| Interest rate terms |
|
bear interest at the alternative base rate or LIBOR, plus the applicable margin for each rate that fluctuates with the consolidated leverage ratio. |
|
|
| Funds available under credit facility |
|
116,600,000 |
|
|
| Debt issuance costs |
|
12,000,000 |
|
|
|
Term Loans
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Subtotal |
|
460,100,000 |
487,550,000 |
|
| Maximum borrowing capacity |
|
|
|
490,000,000 |
| Original issue discount (as a percent) |
|
1.00% |
|
|
| Increase in effective borrowing rate (as a percent) |
|
0.18% |
|
|
| LIBOR |
|
LIBOR |
|
|
| LIBOR plus interest rate (as a percent) |
|
4.50% |
|
|
| Interest rate for term loan (as a percent) |
|
5.75% |
|
|
| Quarterly principal payment |
|
1,225,000 |
|
|
| Annual principal payment |
|
4,900,000 |
|
|
| Prepayment of principal amount |
$ 25,000,000 |
|
|
|
| Effective interest rate under the Term Loans (as a percent) |
|
6.40% |
|
|
|
Term Loans | Requirement when consolidated leverage ratio is between 1.25 and 2.25
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Percentage of mandatory prepayments of excess cash flow depending on consolidated leverage ratio |
|
25.00% |
|
|
|
Term Loans | Minimum | Requirement when consolidated leverage ratio is between 1.25 and 2.25
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Consolidated leverage ratio |
|
1.25 |
|
|
|
Term Loans | Maximum
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Percentage of mandatory prepayments of excess cash flow depending on consolidated leverage ratio |
|
50.00% |
|
|
|
Term Loans | Maximum | Requirement when consolidated leverage ratio is between 1.25 and 2.25
|
|
|
|
|
| Long-term debt |
|
|
|
|
| Consolidated leverage ratio |
|
2.25 |
|
|