SHORT-TERM BORROWINGS

At December 31, 2018 and 2017, we had $294.5 million and $251.0 million, respectively, of short-term borrowings outstanding at the weighted average interest rates of 3.44 percent and 2.42 percent, respectively. We have an aggregate of $370.0 million in credit lines comprised of five unsecured bank credit facilities with four financial institutions, with $220.0 million in total available credit, and a Revolver with five participating Lenders totaling $150.0 million. All of these facilities expire on October 31, 2019 with the exception of the Revolver which is available through October 8, 2020. We incurred commitment fees of $93,300, $131,000 and $145,000 in 2018, 2017 and 2016, respectively. The following table summarizes our short-term borrowing facilities information at December 31, 2018 and 2017.



				Outstanding borrowings at
(in thousands)	Total Facility		LIBOR Based Interest Rate	December 31, 2018		December 31, 2017		Available at December 31, 2018
Bank Credit Facility
Committed revolving credit facility A	$	55,000	plus 1.00 percent	$	25,000	$	55,000	$	30,000
Committed revolving credit facility B	30,000		plus 1.00 percent	15,431		20,500		14,569
Short-term revolving credit note C	50,000		plus 0.80 percent	50,000		50,000		—
Committed revolving credit facility D	45,000		plus 0.85 percent	34,672		40,171		10,328
Committed revolving credit facility E	40,000		plus 0.85 percent	40,000		—		—
Committed revolving credit facility F⁽²⁾	150,000		plus up to 1.25 percent	125,000		75,000		25,000
Total short term credit facilities	$	370,000		$	290,103	$	240,671	$	79,897
Book overdrafts⁽¹⁾				4,355		10,298
Total short-term borrowing				$	294,458	$	250,969

⁽¹⁾ If presented, these book overdrafts would be funded through the bank revolving credit facilities.

⁽²⁾This committed revolving credit facility includes a restriction that our short-term borrowings, excluding any borrowings under the committed revolving credit facility, shall not exceed $200.0 million.

We are authorized by our Board of Directors to borrow up to $350.0 million of short-term debt, as required, from these short-term lines of credit. These bank credit facilities are available to provide funds for our short-term cash needs to meet seasonal working capital requirements and to temporarily fund portions of our capital expenditures.

The availability of funds under our credit facilities is subject to conditions specified in the respective credit agreements, all of which we currently satisfy. These conditions include our compliance with financial covenants and the continued accuracy of representations and warranties contained in these agreements. We are required by the financial covenants in our revolving credit facilities to maintain, at the end of each fiscal year, a funded indebtedness ratio of no greater than 65 percent. We are in compliance with all of our debt covenants.