Revolving Credit Facility and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Principal balances outstanding under our long-term debt obligations as of December 31, 2021 and 2020, consisted of the following (in thousands):

	2021		2020
Term loans	$	133,125	$	140,625
Revolving credit loans		110,000		211,000
Less unamortized debt issuance costs		(290)		(403)
Total long-term debt		242,835		351,222
Less current portion		8,438		7,500
Long-term portion	$	234,397	$	343,722

Schedule of Long-term Debt Covenants

The Third Amended Credit Agreement is collateralized by substantially all of our assets. The Third Amended Credit Agreement contains affirmative and negative covenants, representations and warranties, events of default and other terms

customary for loans of this nature. In particular, the Third Amended Credit Agreement requires that we maintain certain financial covenants, as follows:

	Covenant Requirement
Consolidated Total Leverage Ratio (1)		4.0 to 1.0
Consolidated Interest Coverage Ratio (2)		3.0 to 1.0
Facility Capital Expenditures (3)		$50 million

(1) Maximum Consolidated Total Net Leverage Ratio (as defined in the Third Amended Credit Agreement) as of any fiscal quarter end.

(2) Minimum ratio of Consolidated EBITDA (as defined in the Third Amended Credit Agreement and adjusted for certain expenditures) to Consolidated interest expense (as defined in the Third Amended Credit Agreement) for any period of four consecutive fiscal quarters.

(3) Maximum level of the aggregate amount of all Facility Capital Expenditures (as defined in the Third Amended Credit Agreement) in any fiscal year.

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt as of December 31, 2021, are as follows (in thousands):

Years Ending	Future Minimum
December 31,	Principal Payments
2022	$	8,438
2023		11,250
2024		223,437
Total future minimum principal payments	$	243,125