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Commitments, Contingencies and Other Matters
 6 Months Ended
Jun. 30, 2011
Commitments, Contingencies and Other Matters

11. Commitments, Contingencies and Other Matters

As of June 30, 2011, the Company maintained letters of credit in the aggregate amount of $40.6 million for the benefit of various insurance companies as collateral for retrospective premiums and retained losses which could become payable under the terms of the underlying insurance contracts. These letters of credit expire annually at various times during the year and are typically renewed. As of June 30, 2011, no amounts had been drawn under the letters of credit.

As of June 30, 2011, the Company had commitments to purchase approximately $366 million of major equipment.

The Company is party to various legal proceedings arising in the normal course of its business. The Company does not believe that the outcome of these proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition, results of operations or cash flows.