COMMITMENTS, CONTINGENCIES AND LITIGATION (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

A summary of our credit agreement as of December 31, 2017 and December 31, 2016 is as follows (dollars in thousands):



	December 31,
	2017			2016
Outstanding principal balance on the term loan, less unamortized discount and prepaid costs of $9.8 million and $6.8 million, respectively	$	288,712		$	284,178
Outstanding balance on the revolving credit facility	5,000			35,500
Letters of credit issued with proceeds from revolving credit facility	5,361			4,209
Borrowing capacity	14,639			10,291
Interest rate – term loan	8.4		%	7.0		%
Interest rate – revolving credit facility	10.3		%	6.1		%

Maturities of the term loan are as follows:
				$	3,000
2019				3,000
2020				3,000
2021				3,000
2022				286,500
				$	298,500

Schedule of information with respect to financial covenants

The table below sets forth information with respect to the current financial covenants as of December 31, 2017.



	Covenants Requirements
Maximum total leverage ratio (the ratio of Consolidated Indebtedness to Consolidated EBITDA as defined in the 2017 Credit Agreement) should be equal to or less than:	5.9	⁽¹⁾
Minimum consolidated interest coverage ratio (the ratio of Consolidated EBITDA to Consolidated Interest Expense as defined in the 2017 Credit Agreement) should be equal to or greater than:	2.0	⁽²⁾



	2017 Annual Limit	Twelve Months Ended December 31, 2017
Limitation on capital expenditures	No limit	$36 million

⁽¹⁾

The maximum total leverage ratio decreases to 5.9 to 1 as of March 1, 2018, 5.9 to 1 as of June 30, 2018, 5.9 to 1 as of September 30, 2018, 5.9 to 1 as of December 31, 2018, 5.9 to 1 as of March 31, 2019, 5.9 to 1 as of June 30, 2019, 5.5 to 1 as of September 30, 2019, 5.5 to 1 as of December 31, 2019, 5.5 to 1 March 31, 2020, 5.25 to 1 as of June 30, 2020, 5.25 to 1 September 30, 2020, 4.75 to 1 as of December 31, 2020, 4.75 to 1 as of March 31, 2021, 4.75 to 1 as of June 30, 2021 and 4.5 to 1 as of September 30, 2021 and thereafter.

⁽²⁾

The minimum consolidated interest coverage ratio increases to 2.00 to 1 as of March 31, 2018, 2.00 to 1 as of June 30, 2018, 2.00 to 1 as of September 30, 2018, 2.00 to 1 as of December 31, 2018, 2.00 to 1 as of March 31, 2019, 2.00 to 1 as of June 30, 2019, 2.00 to 1 September 30, 2019, 2.00 to 1 as of December 31, 2019, 2.00 to 1 as of March 31, 2020, 2.00 to 1 as of June 30, 2020, 2.00 to 1 as of September 30, 2020, 2.25 to 1 December 31, 2020, 2.25 to 1 as of March 31, 2021, 2.25 to 1 as of June 30, 2021, 2.25 to 1 as of September 30, 2021 and thereafter.

Schedule of future minimum capital lease payments and the present value of the minimum lease payments for all capital leases

Future minimum capital lease payments and the present value of the minimum lease payments for all capital leases as of December 31, 2017, are as follows (in thousands):



2018	$	32,511
2019	31,021
2020	26,754
2021	26,350
2022	24,346
Thereafter	434,947
Remaining capital lease payments	575,929
Less: amounts representing imputed interest	(340,469		)
Present value of minimum lease payments	235,460
Less: current portion	(11,711		)
	$	223,749

Schedule of future minimum rental payments for operating leases

Future minimum lease payments on non-cancelable operating leases having terms in excess of one year were as follows at December 31, 2017 (in thousands):



2018	$	11,700
2019	5,077
2020	2,538
2021	2,467
2022	2,523
Thereafter	3,492
	$	27,797

Schedule of future minimum payments under service commitments

Future minimum payments under these service commitments having terms in excess of one year were as follows at December 31, 2017 (in thousands):



2018	$	2,357
2019	1,221
2020	131
2021	—
2022	—
Thereafter	—
	$	3,709