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Financing Arrangements and Debt
3 Months Ended
Mar. 31, 2019
Financing Arrangements and Debt [Abstract]  
Financing Arrangements and Debt

Note F – Financing Arrangements and Debt

As of March 31, 2019, the Company has a $1.6 billion revolving credit facility (2018 facility). The 2018 facility is a senior unsecured guaranteed facility which expires in November 2023. At March 31, 2019, the Company had outstanding borrowings of $325.0 million under the 2018 facility and $25.0 million of outstanding letters of credit, which reduce the borrowing capacity of the 2018 facility. At March 31, 2019, the interest rate in effect on borrowings under the facility was 4.105%.  At March 31, 2019, the Company was in compliance with all covenants related to the 2018 facility.