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Long-Term Debt And Lines Of Credit | 12 Months Ended
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Dec. 31, 2019
Long-Term Debt And Lines Of Credit [Abstract] |
Long-Term Debt And Lines Of Credit | 3. Long-Term Debt and Lines of Credit On June 20, 2018, we replaced our existing credit agreement with the Fourth Amended and Restated Credit Agreement (“2018 Credit Agreement”). Terms of the 2018 Credit Agreement consist of a five year, $450 million revolving credit facility and a $150 million expansion feature, which may consist of term loans or additional revolving commitments. The 2018 Credit Agreement has a floating interest rate that is generally LIBOR plus a tiered additional rate which varies based on our current leverage ratio. For December 31, 2019 and 2018, respectively, the interest rate is LIBOR plus 100 basis points. The 2018 Credit Agreement includes transition provisions in the instance LIBOR is no longer published or used as an industry-accepted rate. Debt issuance costs associated with the prior credit agreement were not written off as the lenders and their relative percentage participation in the facility did not change. With respect to the 2018 Credit Agreement, deferred financing costs were $1.0 million. The debt outstanding at December 31, 2019 and 2018 consists of the following (in thousands):
|  | December 31,
|  | 2019 |  |  | 2018
Revolver | $ | 90,000 |  | $ | 89,200
Term loan |  | - |  |  | -
Total |  | 90,000 |  |  | 89,200
Current portion of term loan |  | - |  |  | -
Long-term debt | $ | 90,000 |  | $ | 89,200
Capitalized interest was not material for any of the periods shown. Summarized below are the total amounts of interest paid during the years ended December 31 (in thousands):
2019 | $ | 4,125
2018 |  | 4,178
2017 |  | 3,626
The 2018 Credit Agreement contains the following quarterly financial covenants effective as of December 31, 2019:
|  |  |  |  | Chemed
Description |  | Requirement |  |  | December 31, 2019
Leverage Ratio (Consolidated Indebtedness/Consolidated Adj. EBITDA) |  | < 3.50 to 1.00 |  |  | 0.37 to 1.00
Fixed Charge Coverage Ratio (Consolidated Free Cash Flow/Consolidated |  |  |  |  |
Fixed Charges) |  | > 1.50 to 1.00 |  |  | 4.34 to 1.00
We are in compliance with all debt covenants as of December 31, 2019. We have issued $37.9 million in standby letters of credit as of December 31, 2019 for insurance purposes. Issued letters of credit reduce our available credit under the 2018 Credit Agreement. As of December 31, 2019, we have approximately $322.1 million of unused lines of credit available and eligible to be drawn down under our revolving credit facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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