Annual report pursuant to Section 13 and 15(d)

Borrowings (Tables)

v2.4.0.8
Borrowings (Tables)
12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Schedule of Borrowings
 
For the year ended December 31,
 
2013
 
2012
Principal components:
 
 
 
     Credit Facility
$
22,000

 
$
10,000

     13% Senior Notes due 2016, principal
48,481

 
96,961

          Total principal outstanding
$
70,481

 
$
106,961

 
 
 
 
Non-cash components:
 
 
 
     13% Senior Notes due 2016 unamortized deferred credit
5,267

 
13,707

          Total carrying value of borrowings
$
75,748

 
$
120,668

Schedule of Deferred Credit Balance Related to Senior Notes
The following table summarizes the Company’s deferred credit balance at December 31, 2013:
Gross Carrying
 
Accumulated Amortization at
 
Carrying Value at
 
Amortization Recorded during Current Year
 
Estimated Annual Amortization Expense Expected to be Recognized in
Amount
 
December 31, 2013
 
December 31, 2013
 
(a)
 
2014
$31,507
 
$26,240
 
$5,267
 
$8,440
 
$5,267

(a)
Of the amount recorded as amortization during the current year, $3,165 was recorded as a reduction of interest expense and $5,275 (discussed below) was recorded as a component of the gain on early extinguishment of debt.