Douglas Dynamics, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Details)

Long-Term Debt (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended							12 Months Ended			12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013 Interest rate swap	Dec. 31, 2013 Senior credit facilities Term Loan	Dec. 31, 2012 Senior credit facilities Term Loan	Jun. 30, 2011 Senior credit facilities Term Loan	Dec. 31, 2013 Senior credit facilities Term Loan Interest rate swap item	Dec. 31, 2012 Senior credit facilities Term Loan Interest rate swap	Dec. 31, 2013 Senior credit facilities Term Loan Minimum Interest rate swap	Dec. 31, 2013 Senior credit facilities Term Loan First option	Dec. 31, 2013 Senior credit facilities Term Loan First option Prime	Dec. 31, 2013 Senior credit facilities Term Loan First option Federal funds	Dec. 31, 2013 Senior credit facilities Term Loan First option London Interbank Offered Rate	Dec. 31, 2013 Senior credit facilities Term Loan First option Fixed rate	Dec. 31, 2013 Senior credit facilities Term Loan Second option	Dec. 31, 2013 Senior credit facilities Term Loan Second option London Interbank Offered Rate	Dec. 31, 2013 Senior credit facilities Term Loan Second option Fixed rate	Dec. 31, 2013 Senior credit facilities Revolving credit facility	Dec. 31, 2013 Senior credit facilities Revolving credit facility Maximum	Dec. 31, 2013 Senior credit facilities Revolving credit facility First option	Dec. 31, 2013 Senior credit facilities Revolving credit facility First option London Interbank Offered Rate	Dec. 31, 2013 Senior credit facilities Revolving credit facility Second option	Dec. 31, 2013 Senior credit facilities Revolving credit facility Second option Prime	Dec. 31, 2013 Senior credit facilities Revolving credit facility Second option Federal funds	Dec. 31, 2013 Senior credit facilities Revolving credit facility Second option London Interbank Offered Rate
Long-term debt
Total long-term debt	$ 110,994				$ 110,994	$ 111,966
Less current maturities	971	971			971	971
Long-term debt, less current maturities	110,023	110,995			110,023	110,995
Unamortized discount on issuance of debt					766	946	1,250
Schedule of maturities on long-term debt
2014	971
2015	971
2016	971
2017	971
2018	107,110
Total long-term debt	110,994				110,994	111,966
Long-term debt, additional disclosure
Borrowings under senior credit facility					125,000														80,000
Additional fixed interest rate spread (as a percent)											3.25%					4.25%					1.75%		1.25%
Variable rate basis												Prime Rate	Federal funds	London Interbank Offered Rate for a one month interest period			London Interbank Offered Rate multiplied by Statutory Reserve Rate					London Interbank Offered Rate		Prime Rate	Federal funds	London Interbank Offered Rate multiplied by Statutory Reserve Rate
Interest rate added to variable rate (as a percent)													0.50%												0.50%	1.00%
Additional interest margin added to fixed and variable rates (as a percent)															1.00%			1.50%
Fixed interest rate base (as a percent)																		1.50%
Interest expense paid	7,597	7,435	7,767																446
Average interest rate (as a percent)																			2.00%
Remaining borrowing availability																			48,324
Annual acquisitions allowed																				10,000
Fixed charge coverage ratio to be maintained if certain minimum availability under the credit facility is not maintained																			1.0
Percentage of net cash proceeds of certain asset sales, certain insurance or condemnation events, requirement for additional principal prepayments					100.00%
Period before end of the fiscal year, for additional principal prepayments of debt, from excess cash flow					150 days
Percentage of excess cash flow paid as additional principal prepayments					50.00%
Reduced percentage of excess cash flow paid as additional principal prepayments upon achievement of certain leverage ratio thresholds, one					25.00%
Reduced percentage of excess cash flow paid as additional principal prepayments upon achievement of certain leverage ratio thresholds, two					0.00%
Length of time after closing date for entering into a hedge								90 days
Percentage of aggregate outstanding principal amount of debt hedged										25.00%
Notional amount								50,000
Negative fair value included in accrued expenses and other current liabilities								282	544
Number of financial institutions for which the entity is exposed to counterparty credit risk								1
Fixed interest rate on derivative (as a percent)				6.335%				6.335%
Variable rate basis				LIBOR				LIBOR
Interest rate added to variable rate (as a percent)				4.25%				4.25%
LIBOR floor (as a percent)				1.50%				1.50%
Outstanding borrowings																			$ 13,000