NOTE 6 DEBT

Average borrowings under unsecured lines of credit were $110.3 million and $112.8 million for 2012 and 2011, respectively, and the average annual interest rate on short-term notes payable, which is included in the notes payable caption under current liabilities of the balance sheet was approximately 2.1% for 2012 and 0.7% for 2011. There are no compensating balance requirements associated with short-term borrowings.

On January 31, 2012, the Company entered into a new revolving credit facility that provides for unsecured financing of up to $300 million. This new facility replaces a previously existing $200 million unsecured financing facility that would have matured in 2012 and was cancelled without any early termination penalty on January 31, 2012. The Company initially drew $185 million in borrowings from the new credit facility, of which $165 million was used to repay in full the outstanding obligations under the previous credit facility. Each borrowing under the new credit facility will bear interest at rates based on LIBOR, prime and other similar rates, in each case plus an applicable margin. A facility fee on the total amount of the facility is also payable quarterly, regardless of usage. The applicable margins for borrowings under the new credit facility and the facility fee percentage may change from time to time depending on changes in our consolidated leverage ratio. The representations, covenants and events of default in the new credit facility are substantially similar to the representations, covenants and events of default contained in the previous credit facility. On January 31, 2013, the Company amended the new revolving credit facility to, among other things, add a swingline loan sub-facility and extend the maturity date for the revolving credit facility by one year, to January 31, 2018.

The revolving credit and the senior unsecured debt agreements contain covenants, with which the Company is in compliance, that include certain financial tests.

At December 31, the Company's long-term obligations consisted of the following:

	2012			2011

Notes payable 2.1% – 12.6%, due in monthly and annual installments through 2014	$	4,410		$	5,654
Senior unsecured notes 5.4%, due in 2013		25,000			25,000
Senior unsecured notes 2.3%, due in 2015		16,000			16,000
Senior unsecured notes 6.0%, due in 2016		50,000			50,000
Senior unsecured notes 6.0%, due in 2018		75,000			75,000
Senior unsecured notes 3.8%, due in 2020		84,000			84,000
Senior unsecured notes 3.2%, due in 2022		75,000			—
Senior unsecured notes 3.4%, due in 2024		50,000			—
Capital lease obligations		2,938			3,372

		382,348			259,026
Current maturities of long-term obligations		(29,488	)		(4,116	)

Total long-term obligations	$	352,860		$	254,910

Aggregate long-term maturities, excluding capital lease obligations, which is discussed in Note 7, due annually for the five years beginning in 2013 are $29,068, $342, $16,000, $50,000, $0 and $284,000 thereafter.