Document Yr5ed7w0eYaz1v2OO2Jge8jxV

Net periodic pension expense consisted of the following components- Service cost-benefits earned during the period Interest cost on projected benefit obligation Actual (aam) loss on plan assets Net amortization and deferrals Net pension expense . YEAR ENDED DECEMBER 31, 1996 1995 19**. SO 4 15 (3 5) 17 50 1 SO 3 08 (1 8) i: 50 5 $c : *) (0 - S 04 7 LONG-TERM DEBT Senior Credit Tranche A Term Loans Tranche B Term Loans Revolving Credit Loans 11 7/0% senior Subordinated Notes due 2002 Less current portion . . DECEMBER 31, 1996 1995 $ 73 BA 6 91 9 S91 9 $ 14 0 19 8 84 5 116 3 10 2 S10B 1 The Senior Credit was entered into xn June 1994 between the Company and a group of lenders. It was originally comprised of $30.0 in Tranche A Loans, $20 0 m Tranche B Loans, and $25 0 m Revolving Credit Loan commitments (the "Revolving Credit Loans"). The Tranche A and Tranche B loans were repaid m full on December 31, 1996 partially by a $17 0 capital contribution, the Company's available cash and borrowings of $7 3 under the revolving credit facility The Revolving Credit Loans are payable in full by June 30, 1999, and there are no scheduled commitment reductions In February 1997 the Senior Credit was amended to reduce the Revolving Credit Loans to $12 5 and to lower the interest rates. At December 31, 1996, $7 3 was borrowed under the Revolving Credit Loans and $2.3 was reserved for lender guarantees on outstanding letters of credit. The Senior Credit, as amended in February 1997, permits the Company to choose between various interest rate options and to specify the interest rate period to which the interest rate options are to apply, subject to certain parameters. Borrowing options available are (l) the Base Rate Loans (as defined) and (n) Eurodollar Loans (as defined) plus a borrowing margin of 1 0%. The Senior Credit provides for a commitment fee of one quarter of one percent per annum on the unused Revolving Credit Loans Obligations under the Senior Credit are secured by pledges of substantially all of the Company's domestic assets. The Senior Credit contains various restrictive covenants which include, among other things, limitations on indebtedness and liens, minimum interest coverage and fived charge coverage ratios, operating cash flow maintenance and capital expenditure limits. The interest rate charged on outstanding senior credit borrowings at December 31, 1996 was 9.25%. In November 1992, the Company completed a public offering in which it sold $85 0 aggregate principal amount of 11 7/8% Senior Subordinated Notes due 2002 Disclosure Page 37