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Notes Payable

3 Months Ended

Mar. 31, 2014

Notes Payable [Abstract]

(6) Notes Payable

Our notes payable consisted of the following:

			March 31,			December 31,
			2014			2013

6.30% Senior Notes			$	299,136		$	299,098
$600.0 million Revolving Loan Facility				425,000			355,000
	Total notes payable		$	724,136		$	654,098

The weighted-average interest rate on borrowings under the Revolving Loan Facility (Facility) at March 31, 2014 was 1.4%. We were in compliance with debt covenants related to our 6.30% Senior Notes, the Facility and our Standby Letter of Credit Facility (Standby Facility) at March 31, 2014.

On April 30, 2014, we entered into an agreement to modify our $600.0 million Facility. Under the amended agreement, we increased the borrowing capacity under the Facility to $825.0 million and extended the term two years to April 30, 2019. There were no other material changes to the Facility or to the terms and conditions of our Senior Notes or Standby Facility from those described in Note 7, “Notes Payable” to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2013.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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