Debt (Tables)

3 Months Ended

Mar. 31, 2015

The following is a summary of the Company’s outstanding debt balances (in thousands):

	March 31 2015		December 31 2014

Term loan facility	$	190,000	$	195,000
Revolving credit facility	15,000		25,000
Total	$	205,000	$	220,000

Schedule of covenants

		Ratio Calculation
	Covenant	as of
Covenant	Requirement	March 31, 2015

Leverage ratio (1)	Maximum 3.75x (2)	1.6	x

Interest coverage ratio (3)	Minimum 2.5x	19.1	x

(1)

Calculated as the ratio of total debt to EBITDA, as defined by the Restated Credit Agreement, for the period of four consecutive fiscal quarters on the measurement date.

(2)

The leverage ratio covenant requirement lowers to a maximum of 3.50x on June 30, 2015 and 3.25x on June 30, 2016.

(3)

Calculated as the ratio of EBITDA to interest expense, as defined by the Restated Credit Agreement, for the period of four consecutive fiscal quarters on the measurement date.