Subsequent Events

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

Note 14 – Subsequent Events

In April 2012, the Company entered into a $300 million senior, unsecured term loan agreement with a group of financial institutions. The term loan agreement provides for borrowings at short-term interest rates and contains covenants, restrictions and interest rates that are substantially the same as the Company's existing revolving credit agreement. The term loan agreement matures in April of 2017, and the maturity date may be extended one year with the agreement of the lenders. At closing, the Company borrowed $100 million. The Company may borrow the remaining $200 million available under the term loan by June 30, 2012 at which time, any undrawn commitment under the facility will expire.