Quarterly report pursuant to Section 13 or 15(d)

Line of Credit, Short-Term and Long-Term Borrowings (Tables)

v3.19.3
Line of Credit, Short-Term and Long-Term Borrowings (Tables)
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Long-Term Borrowings

Long-term borrowings at September 30, 2019 and December 31, 2018 are as follows (in thousands):

 

 

 

2019

 

 

2018

 

Note payable to banks, due in monthly installments of $348

   (includes principal and interest), variable-rate interest at

   4.24% per annum, secured by property, balloon payment of

   $62,843 due August 2020

 

$

64,056

 

 

$

65,148

 

Note payable to Luen Thai Enterprise, Ltd., balloon payment

   of $5,880 due January 2021

 

 

5,880

 

 

 

5,800

 

Note payable to TCF Equipment Finance, Inc., due in monthly

   installments of $30 (includes principal and interest), fixed-

   rate interest at 5.24% per annum, paid in July 2019

 

 

—

 

 

 

211

 

Loan payable to a bank, variable-rate interest at 4.28% per

   annum, due September 2023

 

 

33,893

 

 

 

18,626

 

Loan payable to a bank, variable-rate interest at 3.20% per

   annum, due October 2023

 

 

2,590

 

 

 

—

 

Subtotal

 

 

106,419

 

 

 

89,785

 

Less: current installments

 

 

66,646

 

 

 

1,666

 

Total long-term borrowings

 

$

39,773

 

 

$

88,119