Revolving Credit Facility |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Text Block [Abstract] | |
| Revolving Credit Facility | Revolving Credit Facility As of September 30, 2016, $433.3 million was available for borrowing under the $500.0 million Revolving Credit Facility. The Revolving Credit Facility is secured by pledges of the capital stock and ownership interests in certain of the Company’s holding company subsidiaries. The Revolving Credit Facility contains a broad range of covenants that, subject to certain exceptions, restrict the Company’s holding company subsidiaries' ability to incur debt, grant liens, sell or lease assets, transfer equity interests, dissolve, pay distributions and change its business. As of September 30, 2016, the Company's holding company subsidiaries were in compliance with covenants contained in the Revolving Credit Facility. As of September 30, 2016 and December 31, 2015, outstanding loan balances under the Revolving Credit Facility were $35.0 million and $355.0 million, respectively. In addition, as of September 30, 2016 and December 31, 2015, letters of credit of $31.7 million and $27.2 million, respectively, were issued under the Revolving Credit Facility. |