Short-term Borrowings

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015 is summarized below:

	(Millions of  Dollars)
	2016			2015
Established Lines at Year-End	$	60.0		$	60.0
Maximum Amount Outstanding		13.1			19.0
Average Outstanding		7.4			15.3
Notes Payable at Year-End		12.0			3.0
Weighted Average Interest Rate		1.54	%		1.19	%
Weighted Average Interest Rate at Year-End		1.71	%		1.41	%

The maturity dates for the Notes Payable as of December 31, 2016 are in January 2017 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.