DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt outstanding was comprised of the following at December 31:



(in thousands)	2019		2018
Amount drawn on revolving credit facility	$	883,500	$	910,000
Capital lease obligations⁽¹⁾	—		1,864
Long-term debt, principal amount	883,500		911,864
Less current portion of long-term debt	—		(791		)
Long-term debt	883,500		911,073
Current portion of capital lease obligations⁽¹⁾	—		791
Long-term debt due within one year	—		791
Total debt	$	883,500	$	911,864

⁽¹⁾Upon adoption of ASU No. 2016-02, Leasing, and related amendments on January 1, 2019 (Note 2), we reclassified our capital lease obligations, now known as finance lease obligations, to accrued liabilities and other non-current liabilities on the consolidated balance sheet.

Credit facility

Daily average amounts outstanding under our credit facility were as follows for the years ended December 31:



(in thousands)	2019			2018			2017
Revolving credit facility:
Daily average amount outstanding	$	925,715		$	731,110		$	436,588
Weighted-average interest rate	3.54		%	3.24		%	2.55		%
Term loan facility:⁽¹⁾
Daily average amount outstanding	$	—		$	63,638		$	315,862
Weighted-average interest rate	—			2.97		%	2.57		%

⁽¹⁾During 2018 and 2017, we had borrowings outstanding under a variable rate term loan facility. These amounts were repaid in March 2018.

As of December 31, 2019, 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	(883,500		)
Outstanding letters of credit⁽¹⁾	(5,408		)
Net available for borrowing as of December 31, 2019	$	261,092

⁽¹⁾We use standby letters of credit primarily to collateralize certain obligations related 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.