DEBT

As of March 31, 2012 the Company’s long-term debt consisted of the following obligations (in thousands):



Revolving credit facility	$	61,749
Senior unsecured notes	225,000
Capital leases	4,622
	291,371
Less - obligations maturing within one year	64,053
Long term debt - net of current portion	$	227,318

As of March 31, 2012, the carrying amount of the Company's senior unsecured notes was $225.0 million, and the estimate of the fair value of the senior unsecured notes, based on current market rates for debt of the same risk and maturities, was $258.6 million. The estimated fair value was calculated using level 3 inputs and was based on current market rates for debt of the same risk and maturities.

As of March 31, 2012, borrowings under the Company's senior secured revolving credit facility include debt having variable interest rates totaling $61.7 million. The Company believes the carrying value of the debt under the senior secured revolving credit facility approximates fair market value.