Notes Payable and Debt and Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2016

The following table presents the Company's outstanding notes payable and debt as of September 30, 2016 and December 31, 2015:



(U.S. dollars in thousands)	September 30, 2016				December 31, 2015
(U.S. dollars in thousands)	Commitment/ Debt (1)		In Use/ Outstanding (2)		Commitment/ Debt (1)		In Use/ Outstanding (2)
Debt:
2.30% Senior Notes due 2018	$	300,000	$	298,518	$	300,000	$	298,015
5.75% Senior Notes due 2021	400,000		397,846		400,000		397,523
6.375% Senior Notes due 2024	350,000		349,111		350,000		349,029
4.45% Subordinated Notes due 2025	500,000		493,127		500,000		492,521
6.25% Senior Notes due 2027	325,000		323,336		325,000		323,218
5.25% Senior Notes due 2043	300,000		296,394		300,000		296,294
5.5% Subordinated Notes due 2045	500,000		488,668		500,000		488,370
Total debt carrying value	$	2,675,000	$	2,647,000	$	2,675,000	$	2,644,970

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(1)

Excluded from the table are certain credit facilities under which the Company is permitted to utilize up to $1.1 billion and $1.4 billion as of September 30, 2016 and December 31, 2015, respectively, for revolving loans to support general operating and financing needs. However, as of September 30, 2016 and December 31, 2015, $501.5 million and $527.1 million, respectively, were utilized under these facilities to issue letters of credit, leaving $598.5 million and $822.9 million, respectively, available to support other operating and financing needs.

(2) "In Use/Outstanding" data represent September 30, 2016 and December 31, 2015 accreted values.

Letter of Credit Summary

The Company’s letter of credit facilities and revolving credit facilities as of September 30, 2016 and December 31, 2015 were as follows:



Letter of Credit Summary: (U.S. dollars in thousands except percentages)	September 30, 2016 (1)			December 31, 2015 (1)
Available letter of credit facilities - commitments	$	3,991,806		$	4,463,041
Available letter of credit facilities - in use (2)	2,482,386			2,515,653
Collateralized by certain assets of the Company’s investment portfolio	51.1		%	50.9		%

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(1)	As of September 30, 2016 and December 31, 2015, there were fifteen available credit facilities

(2)

As of September 30, 2016 and December 31, 2015, the stated portion of allowable credit facilities permitted to be utilized for revolving loans was $1.1 billion and $1.4 billion, respectively. However, as of September 30, 2016 and December 31, 2015, $501.5 million and $527.1 million, respectively, of such facilities' limits were utilized to issue letters of credit, leaving $598.5 million and $822.9 million, respectively, available either to issue additional letters of credit or to support other operating or financing needs under these particular facilities.