Rendering
| Component: (Network and Table) |
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| Network | 2307301 - Disclosure - Notes Payable (Tables) (http://www.mercuryinsurance.com/role/NotesPayableTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0000064996 (http://www.sec.gov/CIK) |
| Notes Payable [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Notes Payable [Abstract] | |
Schedule of Long-term Debt Instruments | Notes payable consists of the following: | | | | | | | | | | | | | | | | | | December 31, | | Lender | Interest Rate | Expiration | | 2016 | | 2015 | | | | | | (Amounts in thousands) | Secured credit facility | Bank of America | LIBOR plus 40 basis points | December 3, 2018 (2) | | $ | 120,000 |
| | $ | 120,000 |
| Secured loan | Union Bank | LIBOR plus 40 basis points | December 3, 2017 | | 20,000 |
| | 20,000 |
| Unsecured credit facility | Bank of America and Union Bank | (1) | December 3, 2019 | | 180,000 |
| | 150,000 |
| Total | | | | | $ | 320,000 |
| | $ | 290,000 |
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__________ | | (1) | On July 2, 2013, the Company entered into an unsecured $200 million five-year revolving credit facility, which later was expanded to a borrowing capacity of $250 million. The interest rate on borrowings under the credit facility is based on the Company's debt to total capital ratio and ranges from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is above 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is above 25%. Debt to capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. In 2016, the interest rate was LIBOR plus 112.5 basis points on the $180 million of borrowings and 12.5 basis points on the undrawn portion of the credit facility. The interest rate was approximately 1.73% at December 31, 2016. |
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Schedule of Maturities of Long-term Debt | The aggregated maturities of notes payable are as follows: | | | | | | Maturity | | (Amounts in thousands) | 2017 | | $ | 20,000 |
| 2018 | | 120,000 |
| 2019 | | 180,000 |
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