| LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS |
(7) LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS
The Company and its subsidiaries had $2.8 million of outstanding letters of credit and short-term borrowings of $49.4
million as of September 30, 2011 and $18.3 million at December 31, 2010.
Long-term debt is as follows (in
thousands):
| |
|
|
|
|
|
|
|
|
| |
|
September 30,
2011
|
|
|
December 31,
2010
|
|
|
Note payable to bank, 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
|
|
$ |
35,542 |
|
|
$ |
39,325 |
|
|
Note payable to bank, 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
|
|
|
35,179 |
|
|
|
0 |
|
|
Note payable to bank, due in monthly installments of $57.6 (includes principal and interest), fixed-rate interest at 7.89%,
secured by property, balloon payment of $6,889 paid in January 2011
|
|
|
0 |
|
|
|
6,900 |
|
|
Loan from HF Logistics I, LLC
|
|
|
18,193 |
|
|
|
17,358 |
|
|
Capital lease obligations
|
|
|
34 |
|
|
|
51 |
|
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|
|
|
|
|
|
|
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Subtotal
|
|
|
88,948 |
|
|
|
63,634 |
|
|
Less current installments
|
|
|
9,974 |
|
|
|
11,984 |
|
| |
|
|
|
|
|
|
|
|
|
Total long-term debt
|
|
$ |
78,974 |
|
|
$ |
51,650 |
|
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