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Credit Agreement (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Credit Agreement | Selected details of our credit agreement as of and for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands):
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
Credit Agreement: |  |  |  |  |  |  |  |
Credit facility remaining availability |  | $ | 124,082 |  |  | $ | 48,582 |
Outstanding letters of credit |  | $ | 918 |  |  | $ | 1,418 |
Availability of additional letters of credit (1) |  | $ | 124,082 |  |  | $ | 23,582 |
Weighted average daily revolving credit borrowings for the year ended |  | $ | - |  |  | $ | - |
Weighted average annual interest rate |  |  | 0.00 | % |  |  | 0.00 | %
Commitment fee rate |  |  | 0.30 | % |  |  | 0.30 | %
Letter of credit fee rate (2) |  |  | 3.00 | % |  |  | 1.25 | %
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(1) | The letters of credit availability under the credit agreement with Wintrust is up to the borrowing limit of $125.0 million. For the previous credit agreement with BMO Harris Bank N.A., a sublimit of $25.0 million under the credit agreement was part of, not in addition to, the $50.0 million borrowing limit under the credit agreement.
(2) | The 2021 letter of credit fee rate is based on prime minus 1.0%, subject to a minimum rate of 3.0%. The prime rate as of December 31, 2021 was 3.25%, which would yield a 2.25% fee rate, therefore the minimum rate of 3.0% is reflected in the table above.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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