Debt (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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| Debt Disclosure [Abstract] |
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| Summary of Revolver Based upon Borrower's Eligible Accounts Receivable and Inventory |
The availability under the Revolver is based upon the
Borrower’s eligible accounts receivable and eligible
inventory and is comprised as follows (in thousands):
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March 31,
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December 31,
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2016 |
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2015 |
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Revolver:
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Gross Availability
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$ |
10,000 |
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$ |
10,000 |
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Outstanding Draws
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(3,780 |
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— |
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Letter of Credit
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— |
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(81 |
) |
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Landlord Reserves
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(45 |
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(37 |
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Availability on Revolver
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$ |
6,175 |
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$ |
9,882 |
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| Summary of Future Maturities of Loans and Capital Leases |
The Company had approximate future maturities of loans and capital
leases as of March 31, 2016 as follows (in thousands):
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2016 |
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2017 |
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2018 |
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2019 |
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2020 |
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Total |
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Term Loan A (a)
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$ |
— |
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$ |
3,860 |
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$ |
3,860 |
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$ |
3,860 |
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$ |
9,630 |
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$ |
21,210 |
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Term Loan B
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681 |
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908 |
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1,136 |
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1,136 |
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2,261 |
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6,122 |
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Unamortized value of the debt issuance costs (b)
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(25 |
) |
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(31 |
) |
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(31 |
) |
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(31 |
) |
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(8 |
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(126 |
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Revolver
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— |
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— |
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— |
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— |
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3,780 |
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3,780 |
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Capital Leases
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2,585 |
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2,561 |
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1,361 |
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117 |
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— |
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6,624 |
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Total
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$ |
3,241 |
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$ |
7,298 |
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$ |
6,326 |
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$ |
5,082 |
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$ |
15,663 |
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$ |
37,610 |
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| (a) |
The Company has prepaid its Term Loan
A principal payments due on June 30, 2016, September 30, 2016 and
December 31, 2016. Each of these payments is $965, representing a
total prepayment of $2,895 |
| (b) |
Includes the reclassification of the
debt issuance costs as a result of the Company adopting ASU
2015-03 |
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| Summary of Company's Current and Long-Term Debt (Including Capital Leases) |
The following is a breakdown of the Company’s current and
long-term debt (including capital leases) as of March 31, 2016 and
December 31, 2015 (in thousands):
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March 31, 2016
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December 31, 2015
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Current
Portion of
Long-Term
Debt |
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Long-Term
Debt |
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Total |
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Current
Portion of
Long-
Term Debt |
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Long-Term
Debt |
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Total |
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Term Loans
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$ |
1,873 |
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$ |
25,459 |
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$ |
27,332 |
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Term Loans |
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$ |
1,873 |
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$ |
26,651 |
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$ |
28,524 |
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Unamortized value of the debt issuance costs (a)
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$ |
— |
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$ |
(126 |
) |
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(126 |
) |
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Unamortized value of the debt issuance costs (a)
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$ |
— |
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$ |
(134 |
) |
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(134 |
) |
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Revolver
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— |
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|
3,780 |
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3,780 |
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Revolver |
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— |
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— |
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— |
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Capital Leases
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3,304 |
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|
3,320 |
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|
6,624 |
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Capital Leases |
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3,187 |
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|
3,233 |
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6,420 |
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Total
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$ |
5,177 |
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$ |
32,433 |
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$ |
37,610 |
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Total |
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$ |
5,060 |
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$ |
29,750 |
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$ |
34,810 |
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| (a) |
Includes the reclassification of the
debt issuance costs as a result of the Company adopting ASU
2015-03 |
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