Senior Long-Term Debt And Other Debt | 9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Senior Long-Term Debt And Other Debt [Abstract] | |
| Senior Long-Term Debt And Other Debt | 5. Senior Long-Term Debt and Other Debt On June 1, 2011, the Company issued $250 million of 5.35% unsecured senior notes due June 1, 2021. Net proceeds to the Company were $247.9 million, which will be used for general corporate purposes, including acquisitions. In addition, proceeds may be used to repay other of the Company's outstanding debt. On September 23, 2011, the Company entered into an amended and restated revolving credit facility, which provides $150 million of capacity for working capital and other general corporate purposes. The capacity of the revolving credit facility may be increased to $300 million subject to certain terms and conditions. The Company may select from two interest rate options for balances outstanding under the facility and pays a commitment fee (0.25% at September 30, 2011) on the unused portion of the facility based on the Company's debt to equity leverage ratio as calculated under the agreement. At September 30, 2011, the Company had no borrowings outstanding under the facility. This facility replaced the Company's previous $270 million revolving credit facility and expires in September 2015. |