Commitments and Contingencies

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

(6) Commitments and Contingencies

Credit Facilities and Commitments

We have a $500,000 unsecured revolving credit facility (the 'Credit Facility'). The Credit Facility includes a committed letter of credit subfacility of $55,000. The commitments under the Credit Facility will expire (and any borrowings outstanding under the Credit Facility will become due and payable) on March 1, 2018. In the next twelve months, we have the ability and intent to repay a portion of the outstanding line of credit obligations using cash; therefore, we have classified this portion of the line of credit as a current liability. Commitments under the Credit Facility are subject to certain financial and negative covenants, and we are currently in compliance with these covenants.

Line of credit obligations and undrawn letters of credit outstanding under the Credit Facility were as follows:



	September 30, 2015			December 31, 2014		September 30, 2014
Line of credit, obligations outstanding	$	315,000		90,000		105,000
Less: Line of credit, current	(41,510		)	(90,000	)	(105,000	)
Line of credit, noncurrent	$	273,490		—		—

Undrawn letters of credit - face amount	$	37,174		37,315		34,360

Borrowings under the Credit Facility generally bear interest at a rate per annum equal to the London Interbank Offered Rate ('LIBOR') for interest periods of various lengths selected by us, plus 0.95%. Based on the interest periods we have chosen, our effective per annum interest rate at September 30, 2015 was approximately 1.1%. We pay a commitment fee for the unused portion of the Credit Facility. This fee is either 0.10% or 0.125% per annum based on our usage of the Credit Facility.

Legal Contingencies

The nature of our potential exposure to legal contingencies is described in our 2014 annual report on Form 10-K in Note 10 of the Notes to Consolidated Financial Statements. As of September 30, 2015, there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse outcome.