Nautilus 2015 Annual Report Download - page 52
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Please find page 52 of the 2015 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Borrowing availability under the Credit Agreement is subject to our compliance with certain financial and operating covenants at the time borrowings are
requested. Letters of credit under the Credit Agreement are treated as a reduction of the available borrowing amount and are subject to covenant testing.
The interest rate applicable to the Term Loan and to each advance under the revolving line of credit is based on either Chase Bank's floating prime rate or adjusted
LIBOR, plus an applicable margin. As of December 31, 2015 , our borrowing rate for the Term Loan and line of credit advances was 1.68% .
As of December 31, 2015 , we had outstanding borrowings of $80.0 million on our term loan and $0.5 million in letters of credit issued under the Credit
Agreement with expiration dates through April 2016 . As of December 31, 2015 , we were in compliance with the financial covenants of the Credit Agreement and
approximately $19.5 million was available for borrowing under the line of credit.
Maturities of our Term Loan over the next five years are as follows (in thousands):
2016 $ 16,000
2017 16,000
2018 16,000
2019 16,000
2020 16,000
$ 80,000
(13) INCOME TAXES
Income Tax Expense
Income from continuing operations before income taxes was as follows (in thousands):
Year Ended December 31,
2015
2014
2013
United States $ 39,242
$ 29,115
$ 15,386
Non-U.S. 780
1,109
653
$ 40,022
$ 30,224
$ 16,039
Income tax expense (benefit) from continuing operations was as follows (in thousands):
Year Ended December 31,
2015
2014
2013
Current:
U.S. federal $ 858
$ 1,086
$ 541
U.S. state 171
100
56
Non-U.S. 355
222
(12)
Total current 1,384
1,408
585
Deferred:
U.S. federal 11,324
8,913
(29,552)
U.S. state 573
(558)
(3,370)
Non-U.S. (62)
78
252
Total deferred 11,835
8,433
(32,670)
$ 13,219
$ 9,841
$ (32,085)
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