10. Debt

The following is a summary of the Company's outstanding debt balances (in thousands of dollars):

	September 30,		December 31,
	2011		2010

Long-term debt	$	20,000	$	-

The Company has a three-year credit facility with a domestic bank (the "Bank Facility") consisting of an unsecured revolving line of credit that provides up to $80.0 million of aggregate borrowing. The Bank Facility expires on December 31, 2013. Borrowings under the Bank Facility bear interest, at the Company's option, at either the greater of (i) the prime rate, (ii) the base CD rate plus an applicable margin or (iii) the Federal Funds Effective Rate plus an applicable margin or the London Interban Offered Rate plus an applicable margin, depending on certain ratios as defined in the Bank Facility. As of September 30, 2011, $20.0 million was outstanding under the Bank Facility, and the Company was in compliance with all financial covenants. Deducting outstanding letters of credit of $12.6 million, and the $20.0 million draw, $47.4 million of borrowing capacity was available under the Bank Facility at September 30, 2011. At September 30, 2011, the Company believes that the carrying amount of debt obligations approximates its fair value.