INDEBTEDNESS

6 Months Ended

Jun. 30, 2019

The Company’s long-term debt is summarized as follows (in millions):



	June 30, 2019		December 31, 2018
Balance of revolving credit facility	$	129.5	$	134.5
Balance of term loans	321.5		330.8
Total long-term debt	451.0		465.3
Less: Current maturities of long-term debt	17.1		17.2
Less: Deferred financing fees, net	3.7		4.2
Long-term debt	$	430.2	$	443.9

Credit facility

The following revolving credit facility was in place at June 30, 2019 and December 31, 2018 (in millions):



	Capacity	Amount Borrowed	Letters of Credit Outstanding	Unused Capacity
June 30, 2019	$400.0	$129.5	$5.2	$265.3
December 31, 2018	$400.0	$134.5	$5.2	$260.3

At June 30, 2019, borrowings under the revolving credit facility include $7.0 million at a base rate of 6.25% and $122.5 million at a weighted average LIBOR rate of 4.15%. At December 31, 2018, borrowings under the revolving credit facility include $2.5 million at a base rate of 6.25% and $132.0 million at a weighted average LIBOR rate of 4.25%. At June 30, 2019 and December 31, 2018, the letters of credit issued under the revolving credit facility incurred interest at 1.75% for both periods.

At June 30, 2019, the U.S. term loan and multicurrency term loan incurred interest at 4.15% and 1.75%, respectively. At December 31, 2018 the U.S. term loan and multicurrency term loan incurred interest at 4.27% and 1.75%, respectively. The

Eurocurrency rates used for the U.S. dollar-denominated term loan and the Euro-denominated term loan are one-month LIBOR and one-month Euribor, respectively.

Deferred Financing Fees

Deferred financing fees, net of accumulated amortization, totaled $3.7 million and $4.2 million as of June 30, 2019 and December 31, 2018, respectively. In conjunction with terminating the Company’s Existing Credit Agreement, $0.4 million in unamortized debt issuance costs and $1.0 million of third party fees related to debt extinguishment were written-off as a loss on extinguishment of debt during the six months ended June 30, 2018.