Long-term debt

Long-term debt consists of the following (in millions):



	March 31, 2018		December 31, 2017
Amounts borrowed (Credit Facility)	$	420.0	$	488.2
Obligations under capital leases	24.0		24.7
Total long-term debt	$	444.0	$	512.9

The Company has a revolving credit facility (“Credit Facility”) with a capacity of $750.0 million, as of March 31, 2018, limited by a borrowing base consisting of eligible accounts receivable and inventories. The Credit Facility expires in March 2022 and has an expansion feature which permits an increase of $200.0 million. All obligations under the Credit Facility are secured by first-priority liens on substantially all of the Company’s present and future assets. The terms of the Credit Facility permit prepayment without penalty at any time (subject to customary breakage costs with respect to London Interbank Offered Rate ("LIBOR") or Canadian Dollar Offered Rate ("CDOR") based loans prepaid prior to the end of an interest period).

Amounts borrowed, outstanding letters of credit and amounts available to borrow, net of certain reserves required under the Credit Facility, were as follows (in millions):



	March 31, 2018		December 31, 2017
Amounts borrowed	$	420.0	$	488.2
Outstanding letters of credit	17.0		14.2
Amounts available to borrow ⁽¹⁾	253.7		152.1

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(1)	Excluding expansion feature of $200.0 million.

Average borrowings during the three months ended March 31, 2018 and 2017 were $461.9 million and $284.1 million, respectively, with amounts borrowed at any one time outstanding ranging from $353.0 million to $575.0 million during the three months ended March 31, 2018.

The weighted-average interest rates on the Credit Facility for the three months ended March 31, 2018 were 2.8% compared to 2.0% for the same period in 2017. The weighted-average interest rate is calculated based on the daily cost of borrowing, reflecting a blend of prime and LIBOR rates. The Company paid fees for unused facility and letter of credit participation, which are included in interest expense, of $0.2 million for the three months ended March 31, 2018, and 2017. The Company recorded charges related to amortization of debt issuance costs, which are included in interest expense, of $0.2 million for the three months ended March 31, 2018 and 2017. Unamortized debt issuance costs were $3.1 million and $3.3 million as of March 31, 2018 and December 31, 2017, respectively.