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Long-Term Debt and Loan Agreements (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long Term Debt

Long-term debt at December 31, 2022 and 2021 consisted of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Loan Agreement

 

$

56,000

 

 

$

53,000

 

5.25% Senior Unsecured Notes due January 15, 2024

 

 

11,000

 

 

 

11,000

 

5.30% Senior Unsecured Notes due January 15, 2024

 

 

15,000

 

 

 

15,000

 

5.45% Senior Unsecured Notes due January 15, 2026

 

 

12,000

 

 

 

12,000

 

 

 

 

94,000

 

 

 

91,000

 

Less unamortized deferred financing costs

 

 

38

 

 

 

55

 

 

 

 

93,962

 

 

 

90,945

 

Less current portion long-term debt

 

 

 

 

 

 

Long-term debt

 

$

93,962

 

 

$

90,945

 

Schedule of Debt Ratios The ratios as of December 31, 2022 are shown in the following table:

 

 

 

Required Level

 

Actual Level

 

Interest Coverage Ratio

 

3.00 to 1 (minimum)

 

 

20.34

 

Leverage Ratio

 

3.25 to 1 (maximum)

 

 

0.94