Page 103 - New8814 GP 2011_AR-fnl

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Green Plains Grain:
$30.0 million term loan
27,833
-
$195.0 revolving loan
27,000
-
$20.0 million term loan
-
19,000
$100.0 million revolving loan
-
68,004
Inventory financing arrangements
8,894
-
Equipment financing loans
311
915
Notes payable
2,000
3,288
Green Plains Trade:
$70.0 million revolving loan
33,705
21,179
Corporate:
$90.0 million convertible notes
90,000
90,000
Note Payable
1,625
-
Capital Lease
606
-
Other
1,692
3,520
Total debt
636,766
668,968
Less: current portion of long-termdebt
(73,760)
(51,885)
Less: short-termnotes payble and other
(69,599)
(89,183)
Long-termdebt
$
493,407
$ 527,900
December 31,
2011
2010
Scheduled long-term debt repayments, are as follows (in thousands):
Year Ending December 31,
2012
$ 143,359
2013
123,703
2014
42,172
2015
133,451
2016
70,255
Thereafter
124,118
Debt discount
(292)
Total
$ 636,766
Amount
Loan Terminology
Related to loan covenant discussions below, the following definitions generally apply to the Company’s loans (all
calculated in accordance with GAAP consistently applied):
Working capital – current assets less current liabilities.
Net worth – total assets less total liabilities plus subordinated debt.
Tangible Net worth – total assets less intangible assets less total liabilities plus subordinated debt.
Tangible owner’s equity ratio – tangible net worth divided by total assets.
Debt service coverage ratio* – (1) net income (after taxes), plus depreciation and amortization, divided by (2) all
current portions of regularly scheduled long-term debt for the prior period (previous year end).
Fixed charge coverage ratio* –
(1) adjusted EBITDA divided by (2) fixed charges, which are generally the sum of interest expense, scheduled
principal payments, distributions, and maintenance capital, within the ethanol production segment.
(1) EBITDA, plus cash equity investments by the parent company, less capital expenditures and interest
expense of working capital financings divided by (2) scheduled principal payments and interest expense on long-
term indebtedness, within the agribusiness segment.
(1) EBITDA less capital expenditures less distributions less cash taxes, divided by (2) all debt payments for the
previous four quarters, on a trailing quarter basis, within the marketing and distribution segment.