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Financing Arrangements - Schedule of Debt (Details)
€ in Thousands, $ in Thousands
Aug. 31, 2019
USD ($)
Feb. 28, 2019
USD ($)
Oct. 23, 2000
EUR (€)
Debt, Long-term and Short-term, Combined Amount $ 14,049 $ 17,634  
Current portion of long-term debt 6,665 10,021  
Long-term debt 7,384 7,613  
Less: debt issuance costs 1,426 1,837  
Long-term debt, net of debt issuance costs 5,958 5,776  
Foreign Line of Credit [Member]      
Debt, Long-term and Short-term, Combined Amount [1] 3,922 6,699  
Long-term debt, net of debt issuance costs | €     € 8,000
Mortgages [Member]      
Debt, Long-term and Short-term, Combined Amount [2] 7,883 8,112  
Less: debt issuance costs 202    
Schwaiger [Member] | Mortgages [Member]      
Debt, Long-term and Short-term, Combined Amount [3] 130 235  
Audiovox Germany [Member] | Mortgages [Member]      
Debt, Long-term and Short-term, Combined Amount [4] $ 2,114 $ 2,588  
[1] Euro Asset-Based Lending Obligation Foreign bank obligations include a Euro Asset-Based Lending ("ABL") credit facility, which has a credit limit of €8,000 for the Company's subsidiary, VOXX Germany, which expires on July 31, 2020. The rate of interest for the ABL is the three-month Euribor plus 2.3% (1.87% at August 31, 2019). As of August 31, 2019, the amount outstanding under this credit facility, which is payable on demand, does not exceed the credit limit.
[2] Florida Mortgage On July 6, 2015, VOXX HQ LLC, the Company’s wholly owned subsidiary, closed on a $9,995 industrial development revenue tax exempt bond under a loan agreement in favor of the Orange County Industrial Development Authority (the “Authority”) to finance the construction of the Company's manufacturing facility and executive offices in Lake Nona, Florida.  Wells Fargo Bank, N.A. ("Wells Fargo") was the purchaser of the bond and U.S. Bank National Association is the trustee under an Indenture of Trust with the Authority. Voxx borrowed the proceeds of the bond purchase from the Authority during construction as a revolving loan, which converted to a permanent mortgage upon completion of the facility in January 2016 (the "Florida Mortgage"). The Company makes principal and interest payments to Wells Fargo, which began March 1, 2016 and will continue through March of 2026. The Florida Mortgage bears interest at 70% of 1-month LIBOR plus 1.54% (3.71% at August 31, 2019) and is secured by a first mortgage on the property, a collateral assignment of leases and rents and a guaranty by the Company. The financial covenants of the Florida Mortgage are as defined in the Company’s Credit Facility with Wells Fargo dated April 26, 2016. The Company incurred debt financing costs totaling approximately $332 as a result of obtaining the Florida Mortgage, which are recorded as deferred financing costs and included in Long-term debt as a contra-liability balance on the accompanying Consolidated Balance Sheets and are being amortized through Interest and bank charges in the Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income over the ten-year term of the Florida Mortgage. The Company amortized $8 and $16 of these costs during both of the three and six months ended August 31, 2019 and 2018, respectively. The net unamortized balance of these deferred financing costs as of August 31, 2019 is $202. On July 20, 2015, the Company entered into an interest rate swap agreement in order to hedge interest rate exposure related to the Florida Mortgage and pays a fixed rate of 3.48% under the swap agreement (See Note 4).
[3] Schwaiger Mortgage In January 2012, Voxx German Holdings, GmbH purchased a building for the Schwaiger business, entering into a mortgage note payable. The mortgage note bears interest at 3.75% and will be fully paid by December 2019.
[4] Voxx Germany Mortgage This balance represents a mortgage on the land and building housing Voxx Germany's headquarters in Pulheim, Germany, which was entered into in January 2013. The mortgage bears interest at 2.85%, payable in twenty-six quarterly installments, with a final payment due in September 2019. The note was fully paid on September 30, 2019 in conjunction with the sale of the building (see Note 26).