Subsequent Event Subsequent Event (Notes)

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 12. Subsequent Event

On July 18, 2017, the Company entered into an amendment to the Credit Facility (the “Second Amendment”), which, among other things, (a) extended the maturity date of the Credit Facility to July 18, 2021, (b) streamlined the interest rate to be adjusted daily based on one month LIBOR plus a margin of 250 basis points (the margin is subject to adjustment in subsequent quarterly periods based on the Company’s leverage ratio), (c) increased the maximum borrowing availability under the facility from $400 million to $475 million, and (d) added a $25 million accordion feature under which the maximum borrowing availability can be increased to up to $500 million, subject to obtaining additional commitments.

The Credit Facility, as amended by the Second Amendment (the “Amended Credit Facility”), contains various representations, warranties and covenants that the Company considers customary for such facilities. Under the terms of the Amended Credit Facility, we are required, among other things, to maintain compliance with various financial covenants, including a minimum consolidated tangible net worth requirement, a maximum leverage ratio and minimum interest coverage requirement. The Second Amendment did not change these or the other financial covenants in the Credit Facility, except that the minimum consolidated tangible net worth requirement was reset to a minimum of $465.2 million (subject to increases over time based on earnings and proceeds from equity offerings after March 31, 2017).