LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2012

Long-term debt consisted of the following (in thousands):

	December 31,
	2012	2011

Line of credit	$ 104,526	$ 110,828
Term loan	130,000	-
Unsecured subordinated notes payable in quarterly installments at 5% through November 2015	3,870	2,320
Mortgage loan payable to financial institution, 6.25% collateralized by real estate, payable in monthly installments through December 2012	-	1,751
	238,396	114,899
Less: Current portion	(22,057)	(694)
Total Long-term Debt	$ 216,339	$114,205

The following table sets forth the computation of the Leverage Ratio as of December 31, 2012 (in thousands, except for ratios):

For the Twelve Months ended December 31, 2012	Leverage Ratio

Income before taxes	$ 85,009
Interest expense	5,560
Depreciation and amortization	18,082
Stock compensation expense	1,955
Pro forma acquisition EBITDA	16,542
Other adjustments	913
(A) Defined EBITDA	$ 128,061

As of December 31, 2012
Total long-term debt	$ 238,396
Letters of credit outstanding	476
(B) Defined indebtedness	$ 238,872

Leverage Ratio (B)/(A)	1.87

The maturities of long-term debt under the Company's term loan for the next five years and thereafter are as follows (in thousands):