SHORT-TERM DEBT

The following summarizes information concerning short-term debt (in thousands of dollars):



	As of December 31,
	2015			2014
Lines of Credit
Outstanding at December 31	$	23,072		$	51,896
Maximum month-end balance during the year	$	47,802		$	64,384
Weighted average interest rate during the year	4.37		%	4.16		%
Weighted average interest rate at December 31	3.16		%	3.69		%

Commercial Paper
Outstanding at December 31	$	330,000		$	5,000
Maximum month-end balance during the year	$	330,000		$	54,997
Weighted average interest rate during the year	0.23		%	0.16		%
Weighted average interest rate at December 31	0.47		%	0.17		%

Lines of Credit

Foreign subsidiaries utilize lines of credit to meet business growth and operating needs. The Company had $129 million and $114 million of uncommitted lines of credit denominated in foreign currencies at December 31, 2015 and 2014, respectively.

The Company had a committed line of credit of $900 million in 2015 and $600 million in 2014 for which the Company paid a commitment fee of 0.07% and 0.06% as of December 31, 2015 and 2014, respectively. This line of credit supports the issuance of commercial paper. The current line is due to expire in August 2018. The Company issued commercial paper during 2015 and 2014 for general working capital needs.

Commercial Paper

The Company issued commercial paper to partially fund the Cromwell acquisition and for general working capital needs.

Letters of Credit

The Company's U.S. business had $29 million of letters of credit at December 31, 2015 and 2014, respectively, primarily related to the Company's insurance program. Letters of credit were also issued to facilitate the purchase of products. These issued amounts were $3 million at December 31, 2015 and 2014. Letters of credit issued by the Company's international businesses were immaterial.