5. Long-Term Debt

On January 18, 2013, we replaced our existing credit agreement with our Revolving Credit Facility (“2013 Credit Agreement”). Terms of the 2013 Credit Agreement consist of a five-year, $350 million revolving credit facility. This 2013 Credit Agreement has a floating interest rate that is currently LIBOR plus 125 basis points. The 2013 Credit Agreement also includes a $150 million expansion feature. Debt issuance costs associated with the existing credit agreement were not material. With respect to the 2013 Credit Agreement, deferred financing costs are immaterial. The 2013 Credit Agreement contains the following quarterly financial covenants:



Description		Requirement

Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA)		< 3.50 to 1.00

Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated Fixed Charges)		> 1.50 to 1.00

Annual Operating Lease Commitment		< $30.0 million

We are in compliance with all debt covenants as of September 30, 2013. We have issued $32.9 million in standby letters of credit as of September 30, 2013 for insurance purposes. Issued letters of credit reduce our available credit under the 2013 Credit Agreement. As of September 30, 2013, we have approximately $317.1 million of unused lines of credit available and eligible to be drawn down under our revolving credit facility, excluding the $150 million expansion feature.

The following amounts are included in our consolidated balance sheet related to the Notes:



	September 30, 2013		December 31, 2012
Principal amount of convertible debentures	$	186,956	$	186,956
Unamortized debt discount		(5,616)		(12,066)
Carrying amount of convertible debentures	$	181,340	$	174,890
Additional paid in capital (net of tax)	$	31,310	$	31,310

In the second quarter of 2013, the principal amount of the convertible debentures was reclassified to current as the amounts are due in May 2014.

The following amounts comprise interest expense included in our consolidated income statement (in thousands):



	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Cash interest expense	$	990	$	1,381	$	3,420	$	4,064
Non-cash amortization of debt discount		2,186		2,043		6,450		6,028
Amortization and write-off of debt costs		324		319		1,421		940
Total interest expense	$	3,500	$	3,743	$	11,291	$	11,032

The unamortized debt discount is being amortized using the effective interest method over the remaining life of the Notes. The effective rate on the Notes is approximately 6.875% as of September 30, 2013.