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Long Term Debt
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Long-term Debt
Long Term Debt

Long-term debt consists of the following at December 31,:
 
2014
 
2013
 
 
 
 
Revolving line of credit
$
235,000

 
$
208,000

 
 
 
 
Mortgage notes
6,435

 
7,575

 
 
 
 
Total long-term debt
241,435

 
215,575

 
 
 
 
Less:  Current portion
1,234

 
1,140

 
 
 
 
 
$
240,201

 
$
214,435



On January 17, 2013, we entered into an amended and restated $350.0 million senior credit agreement (the "amended and restated senior credit agreement"). The amended and restated senior credit agreement consists of a $350.0 million revolving credit facility expiring on January 17, 2018. In connection with the refinancing, we recorded a $0.3 million loss on the early extinguishment of debt related to the write-off of unamortized deferred financing costs under the then existing senior credit agreement. There were $235.0 million in borrowings outstanding on the revolving credit facility as of December 31, 2014.  Our available borrowings on the revolving credit facility at December 31, 2014 were $109.6 million with approximately $5.4 million of the facility set aside for outstanding letters of credit.

Interest rates on the amended and restated senior credit agreement are at LIBOR plus 1.625% (1.785% at December 31, 2014) or an alternative base rate.  For those borrowings where we elect to use the alternative base rate, the base rate will be the greater of the Prime Rate, the Federal Funds Rate in effect on such date plus 0.50%, or the one month Eurocurrency rate plus 1%, plus an additional margin of 0.625%.
 
The amended and restated senior credit agreement is collateralized by substantially all of our personal property and assets.  The amended and restated senior credit agreement contains covenants and restrictions which, among other things, require the maintenance of certain financial ratios (the most restrictive of which is the senior leverage ratio) and restrict dividend payments and the incurrence of certain indebtedness and other activities, including acquisitions and dispositions.  We were in full compliance with these covenants and restrictions as of December 31, 2014. We are also required, under certain circumstances, to make mandatory prepayments from net cash proceeds from any issuance of equity and asset sales.

We have a mortgage note outstanding in connection with the Largo, Florida property and facilities bearing interest at 8.25% per annum with semiannual payments of principal and interest through June 2019.  The principal balance outstanding on the mortgage note aggregated $6.4 million at December 31, 2014.  The mortgage note is collateralized by the Largo, Florida property and facilities.
 
The scheduled maturities of long-term debt outstanding at December 31, 2014 are as follows:

2015
$
1,234

2016
1,339

2017
1,452

2018
236,574

2019
836

Thereafter