XML 21 R54.htm IDEA: XBRL DOCUMENT v2.4.1.9
Long-Term Loans - Additional Information (Detail) (Credit Agreement [Member], USD $)
12 Months Ended
Dec. 31, 2014
Aug. 07, 2014
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 1.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1  
Percentage of net cash proceeds from asset sales and casualty events 100.00%orbk_DebtInstrumentTermsMandatoryPrepaymentsPercentageOfNetCashProceedsFromAssetSalesAndCasualtyEvents  
Net cash proceeds from certain non-ordinary course assets sales, including casualty and condemnation proceeds 5,000,000orbk_NetCashProceedsFromSaleOfOrdinaryAssets  
Credit agreement reinvestment period 365 days  
Net cash proceeds from issuance or incurrence of debt 100.00%orbk_PercentageOfNetCashProceedsFromIssuanceOfDebt  
Annual excess cash flow, percentage 50.00%orbk_DebtInstrumentPercentageOfAnnualExcessCashFlow  
Step-downs to annual excess cash flow percentage, condition 1 25.00%orbk_DebtInstrumentStepDownsToPercentageOfAnnualExcessCashFlowUnderConditionOne  
Step-downs to annual excess cash flow percentage, condition 2 0.00%orbk_DebtInstrumentStepDownsToPercentageOfAnnualExcessCashFlowUnderConditionTwo  
Ratio of consolidated debt to trailing four-quarter consolidated EBITDA, condition 1 Less than 1.25 to 100  
Ratio of consolidated debt to trailing four-quarter consolidated EBITDA, condition 2 0.75 to 1.00  
LIBO Rate [Member]
   
Debt Instrument [Line Items]    
Floating interest rate 4.00%us-gaap_LongTermDebtPercentageBearingVariableInterestRate
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
 
Base Rate [Member]
   
Debt Instrument [Line Items]    
Floating interest rate 3.00%us-gaap_LongTermDebtPercentageBearingVariableInterestRate
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_VariableRateAxis
= us-gaap_BaseRateMember
 
Guarantees by Company and Existing Subsidiaries [Member]
   
Debt Instrument [Line Items]    
Minimum liquidity amount 40,000,000orbk_LongTermDebtCovenantsMinimumLiquidityAmount
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_GuaranteeObligationsByNatureAxis
= us-gaap_FinancialGuaranteeMember
 
Term Loan [Member]
   
Debt Instrument [Line Items]    
Aggregate principal amount   297,000,000us-gaap_DebtInstrumentFaceAmount
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
Debt instrument discount   3,000,000us-gaap_DebtInstrumentUnamortizedDiscount
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
Interest rate terms The Term Loans bear interest at a floating rate equal to, at the Company’s option (1) the interest rate announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) a LIBO rate determined by reference to the costs of funds for U.S. dollar deposits for a one-month interest period adjusted for certain additional costs plus 1% or (b) a LIBO rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, in each case plus an applicable margin. For purpose of determining the interest rate payable on loans under the Term Loans under clauses (a) and (b) of the immediately preceding sentence, the LIBO rate will in no event be less than 1.0%. The applicable interest rate margin will be 3.0% with respect to base rate borrowings and 4.0% with respect to LIBO rate borrowings.  
Federal funds effective rate plus percentage 0.50%orbk_FederalFundsEffectiveRatePlusPercentage
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
 
Debt instrument, maturity date Aug. 07, 2020  
Debt instrument, payment terms The Company became required to make amortization payments in quarterly installments, commencing on December 31, 2014. The amount of the quarterly installments will be equal to $750,000 for the first 12 quarterly amortization payments. Subsequently, the amount of the quarterly amortization payments will be $5.625 million for the next 11 quarterly amortization payments, and the balance of the principal amount will be due at final maturity.  
Percentage of prepaid loan 1.00%orbk_DebtInstrumentPrepaymentRate
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
 
Term Loan [Member] | First 12 Quarterly Amortization Payments [Member]
   
Debt Instrument [Line Items]    
Amount of quarterly amortization payments 750,000us-gaap_DebtInstrumentPeriodicPayment
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
/ us-gaap_StatementScenarioAxis
= orbk_PeriodOneMember
 
Term Loan [Member] | Next 11 Quarterly Amortization Payments [Member]
   
Debt Instrument [Line Items]    
Amount of quarterly amortization payments 5,625,000us-gaap_DebtInstrumentPeriodicPayment
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_LongtermDebtTypeAxis
= orbk_TermLoanMember
/ us-gaap_StatementScenarioAxis
= orbk_PeriodTwoMember
 
Secured Bond [Member] | Guarantees by Company and Existing Subsidiaries [Member]
   
Debt Instrument [Line Items]    
Secured bond, issuance date Aug. 07, 2014  
Minimum [Member]
   
Debt Instrument [Line Items]    
Net cash proceeds per sale from certain non-ordinary course assets sales, including casualty and condemnation proceeds 2,500,000orbk_NetCashProceedsPerSaleFromSaleOfOrdinaryAssets
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
 
Maximum [Member] | LIBO Rate [Member]
   
Debt Instrument [Line Items]    
Floating interest rate 1.00%us-gaap_LongTermDebtPercentageBearingVariableInterestRate
/ us-gaap_CreditFacilityAxis
= orbk_SeniorSecuredCreditAgreementMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember