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Short-term Borrowings
 12 Months Ended
Dec. 31, 2011
Short-term Debt [Abstract]  
Short-term Borrowings

Note 5 – Short-term Borrowings

 

Information regarding the Company’s short-term borrowings for the years ended December 31, 2011 and 2010 is summarized below:

 

   (Millions of Dollars) 
   2011   2010 
Established Lines at Year-End  $60.0   $58.0 
Maximum Amount Outstanding   24.3    45.9 
Average Outstanding   20.7    26.4 
Notes Payable at Year-End   24.3    17.0 
Weighted Average Interest Rate   1.44%    1.58% 
Weighted Average Interest Rate at Year-End   1.33%    1.53% 

 

The maturity dates for the Notes Payable as of December 31, 2011 are all in January 2012 and are extendable at the discretion of the Company.

 

Interest rates for short-term borrowings are below the prime rate with no requirement for compensating balances.