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Debt (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Credit facility | Daily average amounts outstanding under our credit facility were as follows:
(in thousands) |  | Quarter Ended March 31, 2021 |  | Year Ended December 31, 2020
Daily average amount outstanding |  | $ | 840,165 |  |  | $ | 1,016,896 |
Weighted-average interest rate |  | 2.00 | % |  | 2.12 | %
As of March 31, 2021, amounts were available for borrowing under our revolving credit facility as follows:
(in thousands) |  | Total available
Revolving credit facility commitment |  | $ | 1,150,000 |
Amount drawn on revolving credit facility |  | (840,000) |
Outstanding letters of credit(1) |  | (7,658) |
Net available for borrowing as of March 31, 2021 |  | $ | 302,342 |
(1) We use standby letters of credit to collateralize certain obligations related primarily to our self-insured workers’ compensation claims, as well as claims for environmental matters, as required by certain states. These letters of credit reduce the amount available for borrowing under our revolving credit facility.

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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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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