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Long-Term Debt
3 Months Ended
Mar. 31, 2014
Long-Term Debt  
Long-Term Debt

Note E – Long-Term Debt

Our long-term debt obligations were as follows:

 

 

 

March 31,

 

December 31,

 

 In thousands

 

2014

 

2013

 

 2010 Revolving Credit Facility, various interest rates based on LIBOR, due August 12, 2013 ($60.5 million capacity at December 31, 2012)

 

N/A

 

 $

0

 

 2013 Revolving Credit Facility, various interest rates based on Eurodollar rate, due August 16, 2016 ($72.5 million capacity and effective rate of 2.40% at March 31, 2014)

 

 $

0

 

N/A

 

 2011 Term Loan Facility, various interest rates based on LIBOR (effective rate of 2.15% at March 31, 2014), due August 16, 2016

 

 $

94,938

 

 $

98,000

 

 Total debt

 

 $

94,938

 

 $

98,000

 

 Less current maturities

 

 $

16,844

 

 $

15,313

 

 Total long-term debt

 

 $

78,094

 

 $

82,687

 

 

The carrying values and estimated fair values of our outstanding debt were as follows:

 

 

 

March 31,

 

December 31,

 

 

 

2014

 

2013

 

 In thousands

 

Carrying
Value

 

Fair Value

 

Carrying
Value

 

Fair Value

 

 Total Debt

 

 $

94,938

 

 $

94,938

 

 $

98,000

 

 $

98,000

 

 

The estimated fair values were calculated using current rates provided to us by our bankers for debt of the same remaining maturity and characteristics.  These current rates are considered Level 2 inputs under the fair value hierarchy established by ASC 820.