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Corporate Borrowings | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Corporate Borrowings | Corporate Borrowings The following table presents the Company’s outstanding indebtedness:
Description(a) |  | March 31, 2020 |  | December 31, 2019
Credit Agreement - Revolver, 1.74% (variable rate) due 2025 |  | $ | 55,000 |  |  | $ | — |
Previous Credit Agreement - Revolver, 3.19% (variable rate) due 2022 |  | — |  |  | 300 |
Secured Promissory Note, 3.71% (fixed rate) due 2022 |  | 1,109 |  |  | 1,208 |
Prudential Note Purchase Agreement, 3.53% (fixed rate) due 2027 |  | 20,000 |  |  | 20,000 |
Prudential Note Purchase Agreement, 3.80% (fixed rate) due 2029 |  | 20,000 |  |  | 20,000 |
Total indebtedness outstanding |  | 96,109 |  |  | 41,508 |
Less unamortized loan fees(b) |  | (1,554) |  |  | (448) |
Total indebtedness outstanding, net |  | 94,555 |  |  | 41,060 |
Less current maturities of long-term debt |  | (404) |  |  | (401) |
Long-term debt |  | $ | 94,151 |  |  | $ | 40,659 |
(a) Interest rates are as of March 31, 2020, except for the Previous Credit Agreement which is as of December 31, 2019. (b) Loan fees are being amortized over the life of the Credit Agreement and Note Purchase Agreement. Credit Agreements. On February 14, 2020, the Company entered into a new credit agreement (the "Credit Agreement") with multiple participants lead by Wells Fargo Bank, National Association ("Wells Fargo Bank") that matures on February 14, 2025. The Credit Agreement replaces the Company's existing $150,000 Credit Agreement ("Previous Credit Agreement) with Wells Fargo Bank. The Credit Agreement provides for a $300,000 revolving credit facility. The Company may increase the facility from time to time by an aggregate principal amount of up to $100,000 provided certain conditions are satisfied and at the discretion of the lenders. The Company incurred $1,148 of new loan fees related to the Credit Agreement. The Credit Agreement includes certain requirements and covenants, which the Company was in compliance with at March 31, 2020. As of March 31, 2020, the Company’s total outstanding borrowings under the Credit Agreement were $55,000 leaving $245,000 available. Note Purchase Agreements. The Company’s Note Purchase and Private Shelf Agreement (the “Note Purchase Agreement”) with PGIM, Inc., an affiliate of Prudential Financial, Inc., and certain affiliates of PGIM, Inc. provides for the issuance of up to $75,000 of Senior Secured Notes until August 2020. During 2017, the Company issued $20,000 of Senior Secured Notes with a maturity date of August 23, 2027. During 2019, the Company issued $20,000 of additional Senior Secured Notes with a maturity date of April 30, 2029. The Note Purchase Agreement includes certain requirements and covenants, which the Company was in compliance with at March 31, 2020.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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