12.

DEBT

At March 31, 2017, and December 31, 2016, debt comprised the following:

(In thousands)	Maturity Dates	March 31, 2017		December 31, 2016
Unsecured private placement notes
3.95% (net of unamortized debt issuance cost of $373 and $382 for 2017 and 2016, respectively)	2021-2027	$	99,627	$	99,618
3.86% (net of unamortized debt issuance cost of $378 and $390 for 2017 and 2016, respectively)	2019-2025		99,622		99,610
4.86% (net of unamortized debt issuance cost of $216 and $225 for 2017 and 2016, respectively)	2017-2023		64,784		64,775
5.88% (net of unamortized debt issuance cost of $111 and $116 for 2017 and 2016, respectively)	2016-2022		34,175		34,170
5.69% (net of unamortized debt issuance cost of $24 and $28 for 2017 and 2016, respectively)	2016-2018		11,404		11,400
Debt of foreign subsidiaries
Unsecured bank debt, foreign currency	2017		436		432
Secured bank debt, foreign currency	2017		6,698		7,008
Total debt		$	316,746	$	317,013
Less current maturities			27,848		28,154
Long-term debt		$	288,898	$	288,859

The Company has a committed $125,000,000 multi-currency revolving credit agreement that expires on July 10, 2019. The Company maintains standby letters of credit under its workers’ compensation insurance agreements and for other purposes, as needed from time to time, which are issued under the revolving credit agreement. As of March 31, 2017, the Company had outstanding letters of credit totaling $4,927,000 and no outstanding debt under this agreement. There was $120,073,000 available under the revolving credit agreement as of March 31, 2017.

The various loan agreements contain provisions which, among others, require maintenance of certain financial ratios and place limitations on additional debt, investments and payment of dividends. Based on the loan agreement provisions that place limitations on dividend payments, unrestricted retained earnings (i.e., retained earnings available for dividend distribution) were $176,124,000 and $157,606,000 at March 31, 2017 and December 31, 2016, respectively.