LONG-TERM OBLIGATIONS

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

LONG-TERM OBLIGATIONS

4. LONG-TERM OBLIGATIONS
Long-term debt consisted of the following for the periods indicated (amounts in millions):
		March 31, 2017		December 31, 2016
$100.0 million Term Loan; principal payments plus accrued interest payable quarterly; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage (2.98% at March 31, 2017); due August 28, 2020		$	93.7	$	95.0
$200.0 million Revolving Credit Facility; interest only payments; interest rate at ABR Rate plus applicable percentage or Eurodollar Rate plus the applicable percentage; due August 28, 2020			0.0		0.0
Promissory notes			1.1		0.7
Deferred debt issuance costs			(2.4)		(2.7)
			92.4		93.0
Current portion of long-term obligations			(6.9)		(5.2)
	Total	$	85.5	$	87.8

Our weighted average interest rate for our $100.0 million Term Loan, under our Credit Agreement, was 2.8% and2.4%for the three-month periods ended March 31, 2017 and 2016, respectively. Our weighted average interest rate for our $200.0 million Revolving Credit Facility was2.7% for the three-month period ended March 31, 2016.

As of March 31, 2017, our consolidated leverage ratio was 0.9, our consolidated fixed charge coverage ratio was 4.1 and we are in compliance with our Credit Agreement. In the event we are not in compliance with our debt covenants in the future, we would pursue various alternatives in an attempt to successfully resolve the non-compliance, which might include, among other things, seeking debt covenant waivers or amendments.

As of March 31, 2017, our availability under our $200.0 million Revolving Credit Facility was $170.4 million as we had $29.6 million outstanding letters of credit.