Note 8 - LONG-TERM DEBT

Long-term debt maturing in years 2001 through 2005 is $227,459,000, $1,324,000, $657,000, $657,000, and $100,657,000, respectively.

Under the terms of a revolving credit agreement with six banks, the Company may borrow up to $334 million through August 1, 2005. The Company currently pays a facility fee of .12 percent annually on the entire amount of the commitment. There were no borrowings outstanding under this agreement at December 31, 2000. Debt consisted of the following at December 31,

(1) The commercial paper has been classified as long-term debt, to the extent of available long-term backup credit agreements, in accordance with the Company’s intention and ability to refinance such obligations on a long-term basis. The interest rate of commercial paper outstanding at December 31, 2000, was 6.6 percent. The maximum outstanding during 2000 was $558,037,000, and the average outstanding during 2000 was $347,952,000. The weighted-average interest rate during 2000 was 6.5 percent.

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