Credit Agreement (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Credit Agreement

Selected details of our credit agreement as of and for the years ended December 31, 2016 and 2015 were as follows (dollars in thousands):

	As of December 31,
	2016			2015
Credit Agreement:
Credit facility remaining availability	$	86,403		$	46,554
Credit facility borrowings	$	-		$	38,000
Outstanding letters of credit (1)(2)	$	8,597		$	10,446
Availability of additional letters of credit (3)	$	51,403		$	49,554
Weighted average daily revolving credit borrowings    for the year ended	$	19		$	3
Weighted average annual interest rate		1.93	%		1.92	%
Commitment fee rate		0.25	%		0.25	%
Letter of credit fee rate		0.75	%		0.75	%

(1) Represents letters of credit which are fully collateralized with $8.6 million and $10.4 million of restricted cash as of December 31, 2016 and 2015, respectively.

(2) As of December 31, 2016 and 2015, outstanding letters of credit not related to the Credit Agreement totaled $1.4 million for each year, respectively, which amount is fully collateralized with restricted cash and investments, which is in addition to the $8.6 million and $10.4 million, respectively, referenced in this Note 10.

(3) The letters of credit sublimit of $60.0 million under the Credit Agreement is part of, not in addition to, the $95.0 million aggregate commitments.