Notes Payable and Other Indebtedness

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Notes Payable and Other Indebtedness

Note G—Notes Payable and Other Indebtedness

The Company issued promissory notes as well as other forms of indebtedness in connection with certain acquisitions and other payment obligations. These are due in varying installments, carry varying interest rates and, in aggregate, amounted to $1.4 million at December 31, 2013, and $1.5 million at December 31, 2012. At December 31, 2013, $1.4 million of the notes were collateralized by a standby letter of credit. The following table shows the schedule of maturities for notes payable and other indebtedness at December 31, 2013 (in thousands):

2014	$	128
2015		140
2016		153
2017		167
2018		183
Thereafter		657
	$	1,428

At December 31, 2013, the notes carried fixed rates and the weighted average interest rate for the above was 9.0% for each of the years ended December 31, 2013, 2012 and 2011.

The Company has an uncommitted letter of credit facility (the “facility”) of up to $35.0 million, which is available to cover the issuance of debt support standby letters of credit. The Company had used $18.6 million in debt support standby letters of credit as of December 31, 2013 and $19.7 million as of December 31, 2012. Of the debt support standby letters of credit outstanding, $17.1 million as of December 31, 2013 and $18.1 million as of December 31, 2012, satisfies workers’ compensation insurer’s collateral requirements. There is a service fee of 1.125% on the used portion of the facility. The facility is subject to certain financial covenants and expires on August 31, 2014. The Company intends to renew this facility prior to its August 31, 2014 expiration.