Notes Payable and Debt and Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2017

The following table presents the Company's outstanding notes payable and debt at March 31, 2017 and December 31, 2016:



(U.S. dollars in thousands)	March 31, 2017				December 31, 2016
(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	$	298,854	$	300,000	$	298,686
5.75% Senior Notes due 2021	400,000		398,061		400,000		397,953
6.375% Senior Notes due 2024	350,000		349,166		350,000		349,139
4.45% Subordinated Notes due 2025	500,000		493,531		500,000		493,329
6.25% Senior Notes due 2027	325,000		323,414		325,000		323,375
5.25% Senior Notes due 2043	300,000		296,460		300,000		296,427
5.5% Subordinated Notes due 2045	500,000		488,867		500,000		488,768
Total debt carrying value	$	2,675,000	$	2,648,353	$	2,675,000	$	2,647,677

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(1)

Excluded from the table are certain credit facilities under which the Company is permitted to utilize up to $1.0 billion at March 31, 2017 and December 31, 2016, for revolving loans to support general operating and financing needs. However, at March 31, 2017 and December 31, 2016, $287.7 million and $245 million, respectively, were utilized under these facilities to issue letters of credit, leaving $712.3 million and $755.0 million, respectively, available to support other operating and financing needs.

(2) "In Use/Outstanding" data represent March 31, 2017 and December 31, 2016 accreted values.

Letter of Credit Summary

The Company’s letter of credit facilities and revolving credit facilities at March 31, 2017 and December 31, 2016 were as follows:



Letter of Credit Summary: (U.S. dollars in thousands)	March 31, 2017 (1)			December 31, 2016 (1)
Available letter of credit facilities - commitments	$	4,020,991		$	3,991,687
Available letter of credit facilities - in use (2)	$	2,430,003		$	2,345,293
Collateralized by certain assets of the Company’s investment portfolio	49.1		%	48.6		%

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(1)	At March 31, 2017 and December 31, 2016, there were fifteen available credit facilities.

(2)

At March 31, 2017 and December 31, 2016, the stated portion of allowable credit facilities permitted to be utilized for revolving loans was $1.0 billion. However, at March 31, 2017 and December 31, 2016, $287.7 million and $245 million, respectively, were utilized under these facilities to issue letters of credit, leaving $712.3 million and $755.0 million, respectively, available either to issue additional letters of credit or to support other operating or financing needs under these particular facilities.