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Debt and Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Summary of Unsecured Credit Facility

Rates for the years ended December 31, 2017 and 2016 were as follows (includes bank debt and interest rate swaps):

 

 

 

2017

 

 

2016

 

Weighted average rates

 

2.72%

 

 

2.43%

 

Range of effective rates

 

2.19% - 4.75%

 

 

1.82% - 3.75%

 

 
Summary of Recognized Interest Expense

For the years ended December 31, 2017, 2016 and 2015, we recognized interest expense as follows (in thousands):

 

 

 

2017

 

 

2016

 

 

2015

 

Credit facility (1)

 

$

6,675

 

 

$

6,585

 

 

$

4,320

 

2010 Notes (2)

 

 

—

 

 

 

—

 

 

 

4,559

 

2006 Notes (3)

 

 

—

 

 

 

8

 

 

 

23

 

Balance at December 31

 

$

6,675

 

 

$

6,593

 

 

$

8,902

 

 

(1)

Components of interest expense related to the credit facility include amortization of deferred financing costs, commitment fees and line of credit fees.

(2)

The 2010 Notes matured on October 1, 2015 and were settled with funds available under the credit facility. We settled $48.4 million of the outstanding principal amount plus a premium conversion value over par value, based on a cash averaging period, for a total of $71.8 million. Prior to the October 1, 2015 maturity date, we early retired $49.3 million of the 2010 Notes, in two privately negotiated transactions during the second quarter of 2015, with shares of our common stock and cash consideration.

(3)

We redeemed the remaining 3.125% Convertible Senior Subordinated Notes (the “2006 Notes”) during the second quarter of 2016 under an optional early redemption provision.