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Credit Agreement (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Credit Agreement

Selected details of our credit agreements as of and for the years ended December 31, 2015 and 2014 were as follows (dollars in thousands):

 

 

 

As of December 31,

 

 

 

2015

 

 

2014

 

Credit Agreement:

 

 

 

 

 

 

 

 

Credit facility remaining availability

 

$

46,554

 

 

$

98,437

 

Credit facility borrowings

 

$

38,000

 

 

$

10,000

 

Outstanding letters of credit (1)(2)

 

$

10,446

 

 

$

11,563

 

Availability of additional letters of credit (3)

 

$

49,554

 

 

$

8,437

 

Weighted average daily revolving credit borrowings

   for the year ended

 

$

3

 

 

$

9

 

Weighted average annual interest rate

 

 

1.92

%

 

 

1.67

%

Commitment fee rate

 

 

0.25

%

 

 

0.25

%

Letter of credit fee rate

 

 

0.75

%

 

 

0.75

%

 

(1)

Represents letters of credit which are fully collateralized with $10.4 million and $11.6 million of restricted cash as of December 31, 2015 and 2014, respectively.

(2)

As of December 31, 2015 and 2014, outstanding letters of credit not related to the Credit Agreement totaled $1.4 million and $1.3 million, respectively, which amount is fully collateralized with restricted cash, which is in addition to the $10.4 million and $11.6 million, respectively, referenced in the preceding note.

(3)

The letters of credit sublimit of $60.0 million under the Credit Agreement is part of, not in addition to, the $95.0 million aggregate commitments.