Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT AND LONG-TERM OBLIGATIONS (Details)

v2.4.1.9
LONG-TERM DEBT AND LONG-TERM OBLIGATIONS (Details) (USD $)
0 Months Ended 12 Months Ended
Oct. 01, 2014
Dec. 31, 2014
Dec. 31, 2013
May 25, 2006
Nov. 30, 2008
Sep. 30, 2007
Long-term debt [Abstract]            
Total long-term debt   $ 80,450,000us-gaap_LongTermDebt $ 13,239,000us-gaap_LongTermDebt      
Less current portion   7,000,000us-gaap_LongTermDebtCurrent 1,400,000us-gaap_LongTermDebtCurrent      
Total long-term debt, less current portion   73,450,000us-gaap_LongTermDebtNoncurrent 11,839,000us-gaap_LongTermDebtNoncurrent      
Principal payments of long-term debt [Abstract]            
2015   7,000,000us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths        
2016   8,304,000us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo        
2017   8,304,000us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree        
2018   8,304,000us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour        
2019   48,538,000us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive        
Eurodollar Rate [Member]            
Long-term debt [Abstract]            
Outstanding loans repaid percentage (in hundredths)   100.00%trec_OutstandingLoansRepaidPercentage
/ us-gaap_VariableRateAxis
= us-gaap_EurodollarMember
       
TOCCO [Member]            
Long-term debt [Abstract]            
Interest rate description The Loans will accrue interest at the lower of (i) a London interbank offered rate (“Eurodollar Rate”) plus a margin of between 2.00% and 2.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis, or (ii) a base rate (“Base Rate”) equal to the highest of the federal funds rate plus 0.50%, the rate announced by Bank of America, N.A. as its prime rate, and Eurodollar Rate plus 1.0%, plus a margin of between 1.00% to 1.50% based on the total leverage ratio of TOCCO and its subsidiaries on a consolidated basis.          
TOCCO [Member] | LIBOR [Member] | Minimum [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 2.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
         
TOCCO [Member] | LIBOR [Member] | Maximum [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 2.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
         
TOCCO [Member] | Federal Fund Rate [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 0.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_VariableRateAxis
= us-gaap_FederalFundsEffectiveSwapRateMember
         
TOCCO [Member] | Eurodollar Rate [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 1.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_VariableRateAxis
= us-gaap_EurodollarMember
         
TOCCO [Member] | Base Rate [Member] | Minimum [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 1.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
/ us-gaap_VariableRateAxis
= us-gaap_BaseRateMember
         
TOCCO [Member] | Base Rate [Member] | Maximum [Member]            
Long-term debt [Abstract]            
Basis spread on variable rate (in hundredths) 1.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
/ us-gaap_VariableRateAxis
= us-gaap_BaseRateMember
         
Revolving Note [Member]            
Long-term debt [Abstract]            
Total long-term debt   0us-gaap_LongTermDebt
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
[1] 6,489,000us-gaap_LongTermDebt
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
[1]      
Loan expiration date   Jun. 30, 2015        
Maximum borrowing capacity   18,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
       
Amortization period for principal on acquisition term loan 15 years          
Maximum total leverage ratio 3.25trec_MaximumTotalLeverageRatio
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
         
Minimum fixed charge coverage ratio 1.25trec_MinimumFixedChargeCoverageRatio
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
         
Asset coverage test, minimum 1.1trec_AssetCoverageTestMinimum
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
         
Revolving Note [Member] | TOCCO [Member] | Minimum [Member]            
Long-term debt [Abstract]            
Commitment fee (in hundredths) 0.25%us-gaap_LineOfCreditFacilityCommitmentFeePercentage
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
         
Revolving Note [Member] | TOCCO [Member] | Maximum [Member]            
Long-term debt [Abstract]            
Commitment fee (in hundredths) 0.375%us-gaap_LineOfCreditFacilityCommitmentFeePercentage
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
/ dei_LegalEntityAxis
= trec_TOCCOMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
         
Revolving Note One [Member]            
Long-term debt [Abstract]            
Total long-term debt   7,200,000us-gaap_LongTermDebt
/ us-gaap_CreditFacilityAxis
= trec_RevolvingCreditFacilityOneMember
[2] 0us-gaap_LongTermDebt
/ us-gaap_CreditFacilityAxis
= trec_RevolvingCreditFacilityOneMember
[2]      
Loan expiration date   Oct. 01, 2019        
Maximum borrowing capacity   40,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= trec_RevolvingCreditFacilityOneMember
       
Borrowed funds under the agreement   7,200,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= trec_RevolvingCreditFacilityOneMember
       
Available remaining borrowing capacity   32,800,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= trec_RevolvingCreditFacilityOneMember
       
Letter of Credit [Member]            
Long-term debt [Abstract]            
Maximum borrowing capacity   5,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= us-gaap_LetterOfCreditMember
       
Swing Line Loans [Member]            
Long-term debt [Abstract]            
Maximum borrowing capacity   5,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= trec_SwingLineMember
       
Domestic Bank [Member] | Revolving Note [Member]            
Long-term debt [Abstract]            
Maximum borrowing capacity       12,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
/ us-gaap_CreditFacilityAxis
= us-gaap_RevolvingCreditFacilityMember
/ us-gaap_LineOfCreditFacilityAxis
= us-gaap_DomesticLineOfCreditMember
   
Term Note [Member]            
Long-term debt [Abstract]            
Total long-term debt   0us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
[3] 6,750,000us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
[3]      
Face amount         14,000,000us-gaap_DebtInstrumentFaceAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
10,000,000us-gaap_DebtInstrumentFaceAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
Maturity date   Oct. 31, 2018        
Derivative amount of hedged item           10,000,000us-gaap_DerivativeAmountOfHedgedItem
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
Amortization period for principal on acquisition term loan 10 years          
Quarterly installment amount of acquisition term loan 1,750,000us-gaap_DebtInstrumentPeriodicPaymentPrincipal
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MediumTermNotesMember
         
Term Note One [Member]            
Long-term debt [Abstract]            
Total long-term debt   68,250,000us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteOneMember
[4] 0us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteOneMember
[4]      
Term Note Two [Member]            
Long-term debt [Abstract]            
Total long-term debt   5,000,000us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
[5] 0us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
[5]      
Borrowed funds under the agreement   5,000,000us-gaap_LineOfCredit
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
       
Available remaining borrowing capacity   20,000,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
       
Amount of multiple advance loan can be borrowed   25,000,000trec_AmountOfMultipleAdvanceLoanCanBeBorrowed
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
       
Amount of uncommitted increase option   40,000,000trec_AmountOfUncommittedIncreaseOption
/ us-gaap_LongtermDebtTypeAxis
= trec_TermNoteTwoMember
       
Maturity date   Dec. 31, 2015        
Acquisition Term Loan [Member]            
Long-term debt [Abstract]            
Total long-term debt   $ 70,000,000us-gaap_LongTermDebt
/ us-gaap_LongtermDebtTypeAxis
= trec_AcquisitionTermLoanMember
       
[1] On May 25, 2006 South Hampton entered into a $12.0 million revolving loan agreement with a domestic bank secured by accounts receivable and inventory. The loan was originally due to expire on October 31, 2008, but was amended to extend the termination date to June 30, 2015. Additional amendments were entered into during 2008 and 2009 which ultimately increased the availability of the line to $18.0 million based upon the Companys accounts receivable and inventory. This agreement was replaced by the Amended and Restated Credit Agreement dated October 1, 2014, as detailed below.
[2] On October 1, 2014, Tocco, South Hampton, Gulf Stateand TC (South Hampton, Gulf State and TC collectively the "Guarantors") entered into an Amended and Restated Credit Agreement ("ARC Agreement") with the lenders which from time to time are parties to the ARC Agreement (collectively, the "Lenders") and Bank of America, N.A., a national banking association, as Administrative Agent for the Lenders, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arranger. Subject to the terms and conditions of the ARC Agreement, Tocco may (a) borrow, repay and re-borrow revolving loans (collectively, the "Revolving Loans") from time to time during the period ending September 30, 2019, up to but not exceeding at any one time outstanding $40.0 million (the "Revolving Loan Commitment") and (b) request up to $5.0 million of letters of credit and $5.0 million of swingline loans. Each of the issuance of letters of credit and the advance of swingline loans shall be considered usage of the Revolving Loan Commitment. All outstanding loans under the Revolving Loans must be repaid on October 1, 2019. As of December 31, 2014, Tocco had borrowed funds under the Revolving Loans aggregating $7.2 million with $32.8 million available to be drawn.
[3] On September 19, 2007 South Hampton entered into a $10.0 million term loan agreement with a domestic bank to finance the expansion of the petrochemical facility. An amendment was entered into on November 26, 2008, which increased the term loan to $14.0 million due to the increased cost of the expansion. This note was secured by plant, pipeline and equipment. The agreement was set to expire on October 31, 2018. As discussed in Note 22, effective August 2008 we entered into a pay-fixed, receive-variable interest rate swap with the lending bank which had the effect of converting the interest rate on $10.0 million of the loan to a fixed rate. This agreement was replaced by the Amended and Restated Credit Agreement dated October 1, 2014, as detailed below.
[4] Under the ARC Agreement, Tocco also borrowed $70.0 million in a single advance term loan (the "Acquisition Term Loan") to partially finance the Acquisition.
[5] Under the ARC Agreement, Tocco also has the right to borrow $25.0 million in a multiple advance loan (the "Term Loans," together with the Revolving Loans and Acquisition Term Loan, collectively the "Loans"). Borrowing availability under the Term Loans ends on December 31, 2015. The Term Loans convert from a multiple advance loan to a "mini-perm" loan once Tocco has fulfilled certain obligations such as certification that construction of D-Train was completed in a good and workmanlike manner, receipt of applicable permits and releases from governmental authorities, and receipt of releases of liens from the contractor and each subcontractor and supplier. The Loans also include a $40.0 million uncommitted increase option (the "Accordion Option"). As of December 31, 2014, Tocco had borrowed funds under the agreement aggregating $5.0 million with $20.0 million available to be drawn.