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Debt and Financing Arrangements (Tables)
 3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Summary of Unsecured Credit Facility

Rates for the three months ended March 31, 2017 and 2016 were as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2017

 

 

2016

 

Weighted average rates

 

 

2.52%

 

 

 

2.25%

 

Range of effective rates

 

2.19% - 4.50%

 

 

1.82% - 3.50%

 

 
Summary of Recognized Interest Expense

During the three months ended March 31, 2017 and 2016, we recognized interest expense as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2017

 

 

2016

 

Credit facility (1)

 

$

1,517

 

 

$

1,520

 

2006 Notes (2)

 

 

—

 

 

 

6

 

Total interest expense

 

$

1,517

 

 

$

1,526

 

 

 

(1)

Components of interest expense related to the credit facility include amortization of deferred financing costs, commitment fees and line of credit fees.

 

(2)

During the second quarter of 2016, we redeemed the remaining 3.125% Convertible Senior Subordinated Notes (the “2006 Notes”) for $750 thousand in cash plus accrued interest under an optional early redemption provision.