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Note Payable
12 Months Ended
Dec. 31, 2021
Notes Payable, Current [Abstract]  
Note Payable Note PayableWe have one unsecured revolving credit facility through multiple commercial banks which expires on February 4, 2026. The borrowing capacity is $300 million with an additional $300 million accordion feature. Terms and conditions of the agreement include a debt-to-total capital maximum of 35%. We had no compensating balance requirements on short-term debt for either 2021 or 2020. At December 31, 2021 and 2020, $54 million was drawn on the line of credit. The interest rate charged on our borrowings on this credit agreement ranged from 0.97% to 1.03% during 2021 and ranged from 1.03% to 4.25% during 2020. In addition, we have letters of credit related to our Cincinnati Re and Cincinnati Global operations with no amounts drawn at December 31, 2021 and 2020.