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Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Service Sales | ||||||||
CDIM | $ | 54,643 | $ | 53,340 | ||||
MPS | 35,877 | 33,009 | ||||||
AIM | 2,805 | 2,582 | ||||||
Total service sales | 93,325 | 88,931 | ||||||
Equipment and supplies sales | 10,994 | 11,442 | ||||||
Total net sales | $ | 104,319 | $ | 100,373 |
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Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Employee termination costs | $ | — | $ | — | ||||
Estimated lease termination and obligation costs | 74 | 367 | ||||||
Other restructuring expenses | — | 116 | ||||||
Total restructuring expenses | $ | 74 | $ | 483 |
Three Months Ended March 31, 2015 | |||
Balance, December 31, 2014 | $ | 113 | |
Restructuring expenses | 74 | ||
Payments | (118 | ) | |
Balance, March 31, 2015 | $ | 69 |
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March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||
Amortizable other intangible assets | |||||||||||||||||||||||
Customer relationships | $ | 99,319 | $ | 77,614 | $ | 21,705 | $ | 99,606 | $ | 76,298 | $ | 23,308 | |||||||||||
Trade names and trademarks | 20,373 | 19,850 | 523 | 20,370 | 19,837 | 533 | |||||||||||||||||
$ | 119,692 | $ | 97,464 | $ | 22,228 | $ | 119,976 | $ | 96,135 | $ | 23,841 |
2015 (excluding the three months ended March 31, 2015) | $ | 4,160 | |
2016 | 4,818 | ||
2017 | 4,258 | ||
2018 | 3,846 | ||
2019 | 3,129 | ||
Thereafter | 2,017 | ||
$ | 22,228 |
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March 31, 2015 | December 31, 2014 | ||||||
Term A loan facility maturing 2019; 2.77% and 2.74% interest rate at March 31, 2015 and December 31, 2014 | $ | 170,000 | $ | 173,000 | |||
Various capital leases; weighted average interest rate of 6.3% and 6.8% at March 31, 2015 and December 31, 2014; principal and interest payable monthly through March 2020 | 29,111 | 28,789 | |||||
Borrowings from foreign revolving credit facilities; 0.6% interest rate at March 31, 2015 and December 31, 2014 | 917 | 1,897 | |||||
Various other notes payable with a weighted average interest rate of 6.5% at March 31, 2015 and December 31, 2014; principal and interest payable monthly through June 2016 | 165 | 199 | |||||
200,193 | 203,885 | ||||||
Less current portion | (28,303 | ) | (27,969 | ) | |||
$ | 171,890 | $ | 175,916 |
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Fair Value | |||||
Balance Sheet Classification | March 31, 2015 | ||||
Derivative designated as hedging instrument under ASC 815 | |||||
Interest rate cap contracts - current portion | Other current assets | $ | 7 | ||
Interest rate cap contracts - long-term portion | Other assets | 514 | |||
Total derivatives designated as hedging instruments | $ | 521 |
Amount of Loss Recognized in AOCL on Derivative | ||||
March 31, 2015 | ||||
Derivative in ASC 815 Cash Flow Hedging Relationship | ||||
Interest rate cap contracts | $ | (111 | ) |
Amount of Gain or (Loss) Reclassified from AOCL into Income | ||||||||
Three Months Ended March 31, 2015 | ||||||||
Effective Portion | Ineffective Portion | |||||||
Location of Loss Reclassified from AOCL into Income | ||||||||
Interest expense | $ | 1 | $ | — |
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March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||
Level 2 | Level 3 | Total Losses | Level 2 | Level 3 | Total Losses | |||||||||||||||||||
Recurring Fair Value Measure | ||||||||||||||||||||||||
Interest rate cap contracts | $ | 521 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Contingent purchase price consideration for acquired businesses | $ | — | $ | 1,579 | $ | — | $ | — | $ | 1,768 | $ | — |
Balance, December 31, 2014 | $ | 1,768 | ||
Additions related to acquisitions | — | |||
Payments | (26 | ) | ||
Adjustments included in earnings | — | |||
Foreign currency translation adjustments | (163 | ) | ||
Balance, March 31, 2015 | $ | 1,579 |
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Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Service Sales | ||||||||
CDIM | $ | 54,643 | $ | 53,340 | ||||
MPS | 35,877 | 33,009 | ||||||
AIM | 2,805 | 2,582 | ||||||
Total service sales | 93,325 | 88,931 | ||||||
Equipment and supplies sales | 10,994 | 11,442 | ||||||
Total net sales | $ | 104,319 | $ | 100,373 |
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Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Employee termination costs | $ | — | $ | — | ||||
Estimated lease termination and obligation costs | 74 | 367 | ||||||
Other restructuring expenses | — | 116 | ||||||
Total restructuring expenses | $ | 74 | $ | 483 |
Three Months Ended March 31, 2015 | |||
Balance, December 31, 2014 | $ | 113 | |
Restructuring expenses | 74 | ||
Payments | (118 | ) | |
Balance, March 31, 2015 | $ | 69 |
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March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||
Amortizable other intangible assets | |||||||||||||||||||||||
Customer relationships | $ | 99,319 | $ | 77,614 | $ | 21,705 | $ | 99,606 | $ | 76,298 | $ | 23,308 | |||||||||||
Trade names and trademarks | 20,373 | 19,850 | 523 | 20,370 | 19,837 | 533 | |||||||||||||||||
$ | 119,692 | $ | 97,464 | $ | 22,228 | $ | 119,976 | $ | 96,135 | $ | 23,841 |
2015 (excluding the three months ended March 31, 2015) | $ | 4,160 | |
2016 | 4,818 | ||
2017 | 4,258 | ||
2018 | 3,846 | ||
2019 | 3,129 | ||
Thereafter | 2,017 | ||
$ | 22,228 |
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March 31, 2015 | December 31, 2014 | ||||||
Term A loan facility maturing 2019; 2.77% and 2.74% interest rate at March 31, 2015 and December 31, 2014 | $ | 170,000 | $ | 173,000 | |||
Various capital leases; weighted average interest rate of 6.3% and 6.8% at March 31, 2015 and December 31, 2014; principal and interest payable monthly through March 2020 | 29,111 | 28,789 | |||||
Borrowings from foreign revolving credit facilities; 0.6% interest rate at March 31, 2015 and December 31, 2014 | 917 | 1,897 | |||||
Various other notes payable with a weighted average interest rate of 6.5% at March 31, 2015 and December 31, 2014; principal and interest payable monthly through June 2016 | 165 | 199 | |||||
200,193 | 203,885 | ||||||
Less current portion | (28,303 | ) | (27,969 | ) | |||
$ | 171,890 | $ | 175,916 |
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Fair Value | |||||
Balance Sheet Classification | March 31, 2015 | ||||
Derivative designated as hedging instrument under ASC 815 | |||||
Interest rate cap contracts - current portion | Other current assets | $ | 7 | ||
Interest rate cap contracts - long-term portion | Other assets | 514 | |||
Total derivatives designated as hedging instruments | $ | 521 |
Amount of Loss Recognized in AOCL on Derivative | ||||
March 31, 2015 | ||||
Derivative in ASC 815 Cash Flow Hedging Relationship | ||||
Interest rate cap contracts | $ | (111 | ) |
Amount of Gain or (Loss) Reclassified from AOCL into Income | ||||||||
Three Months Ended March 31, 2015 | ||||||||
Effective Portion | Ineffective Portion | |||||||
Location of Loss Reclassified from AOCL into Income | ||||||||
Interest expense | $ | 1 | $ | — |
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March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||
Level 2 | Level 3 | Total Losses | Level 2 | Level 3 | Total Losses | |||||||||||||||||||
Recurring Fair Value Measure | ||||||||||||||||||||||||
Interest rate cap contracts | $ | 521 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Contingent purchase price consideration for acquired businesses | $ | — | $ | 1,579 | $ | — | $ | — | $ | 1,768 | $ | — |
Balance, December 31, 2014 | $ | 1,768 | ||
Additions related to acquisitions | — | |||
Payments | (26 | ) | ||
Adjustments included in earnings | — | |||
Foreign currency translation adjustments | (163 | ) | ||
Balance, March 31, 2015 | $ | 1,579 |
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