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Long-term debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

Long-term debt as of December 31, 2016 and 2015 consists of the following:  

 

 

 

December 31, 2016

 

 

December 31, 2015

 

Term loan B requires quarterly installments plus interest through the

   term of the loan, maturing March 31, 2021. Outstanding borrowings

   bear interest at LIBOR or base rate (as defined) plus a margin at the

   election of the borrower (4.33% at December 31, 2016 and 4.75% at

   December 31, 2015)

 

$

716,654

 

 

$

492,275

 

Revolving credit line, requires interest only payments through the

   term of the loan, maturing March 31, 2019. Outstanding borrowings

   bear interest at LIBOR or base rate (as defined) plus a margin at the

   election of the borrower (6.00% at December 31, 2016 and 5.50% at

   December 31, 2015)

 

 

 

 

 

 

Total debt, excluding deferred financing costs

 

 

716,654

 

 

 

492,275

 

Deferred financing costs, net of accumulated amortization

 

 

(7,466

)

 

 

(7,396

)

Total debt

 

 

709,188

 

 

 

484,879

 

Current portion of long-term debt and line of credit

 

 

7,185

 

 

 

5,100

 

Long-term debt, net of current portion

 

$

702,003

 

 

$

479,779

 

 

Schedule of Future Annual Payments of Long-term Debt

Future annual principal payments of long-term debt as of December 31, 2016 are as follows:  

 

 

 

Amount

 

2017

 

$

7,185

 

2018

 

 

7,185

 

2019

 

 

7,185

 

2020

 

 

7,185

 

2021

 

 

687,914

 

Thereafter

 

 

-

 

Total

 

$

716,654