| Line of Credit, Short-Term and Long-Term Borrowings |
(6) LINE OF CREDIT,
SHORT-TERM AND LONG-TERM BORROWINGS
The Company and
its subsidiaries had $3.8 million and $3.2 million of outstanding
letters of credit and $3.0 million and $2.4 million in
short-term borrowings as of March 31, 2013 and December 31,
2012, respectively.
Long-term debt
is as follows (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
March 31,
2013
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|
|
December 31,
2012
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|
Note payable to banks, due
in monthly installments of $355.0 (includes principal and
interest), variable rate interest at 3.95%, secured by property,
balloon payment of $76,976 due November 2015
|
|
$ |
79,664 |
|
|
$ |
79,916 |
|
|
Note payable to banks, due
in monthly installments of $531.4 (includes principal and
interest), fixed rate interest at 3.54%, secured by property,
balloon payment of $12,635 due December 2015
|
|
|
27,669 |
|
|
|
29,010 |
|
|
Note payable to banks, due
in monthly installments of $483.9 (includes principal and
interest), fixed rate interest at 3.19%, secured by property,
balloon payment of $11,670 due June 2016
|
|
|
27,991 |
|
|
|
29,213 |
|
|
Note payable to TCF
Equipment Finance, Inc., due in monthly installments of $30.5,
(includes principal and interest) fixed rate interest at 5.24%,
maturity date of July 2019
|
|
|
1,970 |
|
|
|
2,036 |
|
|
Capital lease
obligations
|
|
|
5 |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
Subtotal
|
|
|
137,299 |
|
|
|
140,185 |
|
|
Less: current
installments
|
|
|
11,754 |
|
|
|
11,668 |
|
|
|
|
|
|
|
|
|
|
|
Total long-term
debt
|
|
$ |
125,545 |
|
|
$ |
128,517 |
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|