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Short-Term Loans
 3 Months Ended
Mar. 31, 2012
Short-Term Loans  
Short-Term Loans

G.        Short-Term Loans

 

As of March 31, 2012 and December 31, 2011, the Company had no loans or letters of credit outstanding under its revolving credit facility. Commitment fees averaging approximately one-thirteenth of one percent in the first quarter of 2012 and one-twentieth of one percent in the first quarter of 2011 were paid to maintain credit availability under the revolving credit facility.

 

There were no short-term loans outstanding during the three months ended March 31, 2012. The maximum amount of outstanding short-term loans at any time during the three months ended March 31, 2011 was $104.0 million.  The average daily balance of short-term loans outstanding during the three months ended March 31, 2011 was approximately $22.3 million, respectively, at a weighted average annual interest rate of 1.81%.