LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

3 Months Ended

Mar. 31, 2016

LONG-TERM DEBT AND FINANCING ARRANGEMENTS

Schedule of long-term debt

	March 31		December 31
	2016		2015
	(in thousands)
Credit Facility (interest rate of 1.7% at March 31, 2016)	$	70,000	$	70,000
Accounts receivable securitization borrowings (interest rate of 1.3% at March 31, 2016)		35,000		35,000
Notes payable (weighted-average interest rate of 1.9% at March 31, 2016)		97,626		106,703
Capital lease obligations (weighted-average interest rate of 5.8% at March 31, 2016)		764		806
		203,390		212,509
Less current portion		45,905		44,910
Long-term debt, less current portion	$	157,485	$	167,599

Scheduled maturities of long-term debt obligations

					Accounts
					Receivable
			Credit		Securitization		Notes		Capital Lease
	Total		Facility(1)		Program(1)		Payable		Obligations(2)
	(in thousands)
Due in one year or less	$	49,216	$	1,294	$	496	$	47,212	$	214
Due after one year through two years		73,929		1,455		35,428		36,825		221
Due after two years through three years		17,622		1,623		—		15,772		227
Due after three years through four years		71,589		71,339		—		56		194
Due after four years through five years		—		—		—		—		—
Total payments		212,356		75,711		35,924		99,865		856
Less amounts representing interest		8,966		5,711		924		2,239		92
Long-term debt	$	203,390	$	70,000	$	35,000	$	97,626	$	764

⁽¹⁾ The future interest payments included in the scheduled maturities due are calculated using variable interest rates based on the LIBOR swap curve, plus the anticipated applicable margin.

⁽²⁾ Minimum payments of capital lease obligations include maximum amounts due under rental adjustment clauses contained in the capital lease agreements.

Schedule of assets securing notes payable or held under capital leases

	March 31		December 31
	2016		2015
	(in thousands)
Revenue equipment	$	138,551	$	136,698
Land and structures (terminals)		1,794		1,794
Total assets securing notes payable or held under capital leases		140,345		138,492
Less accumulated depreciation and amortization(1)		32,317		25,120
Net assets securing notes payable or held under capital leases	$	108,028	$	113,372

⁽¹⁾ Amortization of assets under capital leases and depreciation of assets securing notes payable are included in depreciation expense.