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Short and Long-Term Debt | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Short and Long-Term Debt | Short and Long-Term Debt Short-Term Debt Short-term borrowings with banks, which excludes the current portion of long-term debt, was insignificant and $0.1 million at December 31, 2015 and 2014, respectively. The average month-end balance of total short-term borrowings during 2015 was $0.2 million. The maximum month-end balance of $0.6 million occurred in February 2015. The weighted average interest rate on short-term borrowings was 14% at December 31, 2014. Long-Term Debt
| December 31,
(In thousands) | 2015 |  | 2014
2006 Senior notes payable through 2021, 5.41% | $ | 40,000 |  |  | $ | 46,667 |
2010 Senior notes payable through 2021, 4.00% | 100,000 |  |  | 100,000 |
Senior revolving credit facility maturing in 2020 | 326,626 |  |  | 105,000 |
Total | 466,626 |  |  | 251,667 |
Amounts due within one year | 6,667 |  |  | 6,667 |
Long-term debt | $ | 459,959 |  |  | $ | 245,000 |
In connection with the Company's acquisition of Latchways (Note 13), the Company entered into an a credit agreement, effective August 31, 2015. The credit agreement established a senior unsecured credit facility consisting of a $125.0 million senior revolving credit facility. On December 11, 2015, the Company repaid the outstanding indebtedness under, and terminated, the credit agreement dated August 31, 2015. The credit agreement was repaid with the proceeds of a borrowing under a new credit agreement dated December 11, 2015. The new credit agreement amended and restated the Company’s existing credit agreement dated March 7, 2014. Under the new credit agreement dated December 11, 2015, funds may be borrowed on an unsecured, revolving credit basis in a maximum outstanding amount not to exceed $575.0 million. The new credit agreement has a term expiring on December 11, 2020. At December 31, 2015, $244.9 million of the existing $575.0 million senior revolving credit facility was unused including letters of credit. On January 22, 2016, the Company entered into multi-currency note purchase and private shelf agreement, pursuant to which MSA issued notes in an aggregate original principal amount of £54.9 million (approximately $80.0 million). The Notes are repayable in annual installments of £6.1 million (approximately $8.9 million), commencing January 22, 2023, with a final payment of any remaining amount outstanding on January 22, 2031. The interest rate on these notes is fixed at 3.4%. The note purchase agreement requires MSA to comply with specified financial covenants including a requirement to maintain a minimum fixed charges coverage ratio of not less than 1.50 to 1.00 and a consolidated leverage ration not to exceed 3.25 to 1.00; in each case calculated on the basis of the trailing four fiscal quarters. In addition, the note purchase agreement contains negative covenants limiting the ability of MSA and its subsidiaries to incur additional indebtedness or issue guarantees, create or incur liens, make loans and investments, make acquisitions, transfer or sell assets, enter into transactions with affiliated parties, make changes in its organizational documents that are materially adverse to lenders or modify the nature of MSA's or its subsidiaries' business. Approximate maturities on our long-term debt over the next five years are $6.7 million in 2016, $26.7 million in 2017, $26.7 million in 2018, $26.7 million in 2019, $353.1 million in 2020, and $26.7 million thereafter. The revolving credit facilities require the Company to comply with specified financial covenants. In addition, the credit facilities contain negative covenants limiting the ability of the Company and its subsidiaries to enter into specified transactions. The Company was in compliance with all covenants at December 31, 2015. The Company had outstanding bank guarantees and standby letters of credit with banks as of December 31, 2015, totaling $7.9 million, of which $3.5 million relate to the senior revolving credit facility. The letters of credit serve to cover customer requirements in connection with certain sales orders and insurance companies. No amounts were drawn on these arrangements at December 31, 2015. The Company is also required to provide cash collateral in connection with certain arrangements. At December 31, 2015, the Company has $2.4 million of restricted cash in support of these arrangements.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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