Short-term Borrowings

12 Months Ended

Dec. 31, 2013

Short-term Debt [Abstract]

Short-term Borrowings

Note 5 – Short-term Borrowings

Information regarding the Company’s short-term borrowings for the years ended December 31, 2013 and 2012 is summarized below:

	(Millions of  Dollars)
	2013		2012
Established Lines at Year-End	$	60.0	$	60.0
Maximum Amount Outstanding		30.5		29.0
Average Outstanding		27.7		25.5
Notes Payable at Year-End		28.5		28.0
Weighted Average Interest Rate		1.41%		1.43%
Weighted Average Interest Rate at Year-End		1.47%		1.40%

The maturity dates for the Notes Payable as of December 31, 2013 are all in January 2014 and are extendable at the discretion of the Company.

Interest rates for short-term borrowings are below the prime rate with no requirement for compensating balances.