Short-Term Loans

6 Months Ended

Jun. 30, 2012

Short-Term Loans

Short-Term Loans

G.        Short-Term Loans

As of June 30, 2012 and December 31, 2011, the Company had no loans or letters of credit outstanding under its revolving credit facility. Commitment fees averaging approximately 6.0 basis points in the second quarter of 2012 and 5.0 basis points in the second quarter of 2011 were incurred to maintain credit availability under the revolving credit facility.

There were no short-term loans outstanding during the six months ended June 30, 2012. The maximum amount of outstanding short-term loans at any time during the six months ended June 30, 2011 was $104.0 million.  The average daily balance of short-term loans outstanding during the six months ended June 30, 2011 was approximately $11.1 million at a weighted average annual interest rate of 1.81%.