Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt outstanding was comprised of the following:



(in thousands)	June 30, 2016			December 31, 2015
6.0% senior notes due November 15, 2020, principal amount	$	200,000		$	200,000
Less unamortized debt issuance costs	(2,021		)	(2,249		)
Cumulative change in fair value of hedged debt (Note 7)	858			(4,842		)
6.0% senior notes, carrying value	198,837			192,909
Amount drawn on credit facility	413,000			434,000
Long-term portion of capital lease obligations	950			1,064
Long-term portion of debt	612,787			627,973
Capital lease obligations due within one year	1,041			1,045
Total debt	$	613,828		$	629,018

Daily average amounts outstanding

Daily average amounts outstanding under our credit facility and short-term borrowings were as follows:



(in thousands)	Six Months Ended June 30, 2016			Year Ended December 31, 2015
Credit facility:
Daily average amount outstanding	$	419,544		$	270,063
Weighted-average interest rate	1.86		%	1.66		%
Short-term bank loan:
Daily average amount outstanding	$	—		$	47,178
Weighted-average interest rate	—			1.59		%

Credit facility, amount available for borrowing

As of June 30, 2016, amounts were available for borrowing under our credit facility as follows:



(in thousands)	Total available
Credit facility commitment	$	525,000
Amount drawn on credit facility	(413,000		)
Outstanding letters of credit⁽¹⁾	(12,795		)
Net available for borrowing as of June 30, 2016	$	99,205

⁽¹⁾We use standby letters of credit to collateralize certain obligations related primarily to our self-insured workers’ compensation claims, as well as claims for environmental matters, as required by certain states. These letters of credit reduce the amount available for borrowing under our credit facility.