LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2012

LONG-TERM DEBT [Abstract]

Computation of the Leverage Ratio

The following table sets forth the computation of the Leverage Ratio as of September 30, 2012 (in thousands, except for ratios):

For the Twelve Months endedSeptember 30, 2012	Leverage Ratio
Income before taxes	$	76,572
Interest expense		4,591
Depreciation and amortization		15,670
Stock compensation expense		1,818
Pro forma acquisition EBITDA		23,869
Other adjustments		(218	)
(A) Defined EBITDA		122,302
As of September 30, 2012
Total long-term debt		259,031
Letters of credit outstanding		460
(B) Defined indebtedness		259,491
Leverage Ratio (B)/(A)		2.12

Borrowings

Borrowings (in thousands):

	September 30, 2012			December 31,  2011(4)			Increase  (Decrease)
Current portion of long-term debt	$	18,098		$	694		$	17,404
Long-term debt, less current portion		240,933			114,205			126,728
Total long-term debt	$	259,031		$	114,899		$	144,132	(2)
Amount available	$	67,376	(1)	$	78,201	(1)	$	(10,825	)(3)

(1) Represents amount available to be borrowed at the indicated date under the Facility.

(2) The funds obtained from the increase in debt were primarily used to fund acquisitions.

(3) The $10.8 million decrease in the amount available is primarily a result of borrowing to fund acquisitions and working capital, partially offset by cash flow from operations.

(4) Borrowings as of December 31, 2011 were primarily under the Company's previous credit facility which was terminated and replaced with the current credit facility on July 11, 2012.