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Credit Arrangements (Tables)
12 Months Ended
Dec. 31, 2016
Credit Arrangements  
Schedule of credit facilities and long-term debt

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

Commercial equipment notes payable to various commercial equipment finance companies and banks with interest rates that range from 1.78% to 3.51% per annum. Monthly principal and interest payments are due in the amount of $2,521 per month until the maturity dates, which range from August 13, 2017 to December 13, 2020. The notes are secured by certain construction equipment of the Company

 

$

55,579

 

$

83,711

 

 

 

 

 

 

 

 

 

Commercial equipment notes payable to various commercial equipment finance companies and banks with  interest rates that range from 1.94% to 2.75% per annum. Monthly principal and interest payments are due in the amount of $999 per month until the maturity dates, which range from March 31, 2019 to September 24, 2021. The notes are secured by certain construction equipment assets of the Company

 

 

33,254

 

 

44,587

 

 

 

 

 

 

 

 

 

Commercial equipment notes payable to various commercial equipment finance companies and banks with interest rates that range from 2.01% to 2.19% per annum. Monthly principal and interest payments are due in the amount of $735 per month until the maturity dates, which range from March 5, 2020 to September 24, 2020. The notes are secured by certain construction equipment assets of the Company

 

 

29,702

 

 

38,041

 

 

 

 

 

 

 

 

 

Commercial equipment notes payable to various commercial equipment finance companies and banks with interest rates that range from 1.83% to 2.06% per annum. Monthly principal and interest payments are due in the amount of $788 per month until the maturity dates, which range from August 15, 2021 to October 14, 2021. The notes are secured by certain construction equipment assets of the Company

 

 

42,613

 

 

 —

 

 

 

 

 

 

 

 

 

Two secured mortgage notes payable to a bank, with an interest rate of 4.3% per annum.  Monthly principal and interest payments of $60 per month began January 1, 2016 and continue until the maturity date of January 1, 2031. The notes are secured by two buildings

 

 

7,564

 

 

7,950

 

 

 

 

 

 

 

 

 

Senior Secured Notes payable to an insurance finance company, with interest rates that range from 3.65% to 4.60% per annum, with quarterly interest payments.  Principal repayment for the $50,000 loan starts on December 28, 2016, for the $25,000 loan on July 15, 2017 and for the second $25,000 loan on November 9, 2019, and continue until their maturity dates, which range from December 28, 2022 to November 9, 2025.  The notes are secured by the assets of the Company

 

 

92,858

 

 

100,000

 

 

 

 

 

 

 

 

 

 

 

 

261,570

 

 

274,289

 

Less: current portion

 

 

(58,189)

 

 

(54,436)

 

Long-term debt, net of current portion

 

$

203,381

 

$

219,853

 

 

Schedule of maturities of long-term debt

 

 

 

 

 

 

    

Year Ending

 

 

 

December 31, 

 

2017

 

$

58,189

 

2018

 

 

55,741

 

2019

 

 

55,246

 

2020

 

 

35,850

 

2021

 

 

22,449

 

Thereafter

 

 

34,095

 

 

 

$

261,570