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Long-Term Debt | 3 Months Ended
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Mar. 31, 2016
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Our outstanding long-term debt is shown below:
|  | March 31, |  | December 31,
(in thousands) |  | 2016 |  | 2015
FPU secured first mortgage bonds (1) : |  |  |  |
9.08% bond, due June 1, 2022 |  | $ | 7,975 |  |  | $ | 7,973 |
Uncollateralized senior notes: |  |  |  |
6.64% note, due October 31, 2017 |  | 5,455 |  |  | 5,455 |
5.50% note, due October 12, 2020 |  | 10,000 |  |  | 10,000 |
5.93% note, due October 31, 2023 |  | 24,000 |  |  | 24,000 |
5.68% note, due June 30, 2026 |  | 29,000 |  |  | 29,000 |
6.43% note, due May 2, 2028 |  | 7,000 |  |  | 7,000 |
3.73% note, due December 16, 2028 |  | 20,000 |  |  | 20,000 |
3.88% note, due May 15, 2029 |  | 50,000 |  |  | 50,000 |
Promissory notes |  | 168 |  |  | 238 |
Capital lease obligation |  | 4,490 |  |  | 4,824 |
Total long-term debt |  | 158,088 |  |  | 158,490 |
Less: current maturities |  | (9,163 | ) |  | (9,151 | )
Less: debt issuance costs |  | (323 | ) |  | (333 | )
Total long-term debt, net of current maturities |  | $ | 148,602 |  |  | $ | 149,006 |
(1) FPU secured first mortgage bonds are guaranteed by Chesapeake Utilities. Shelf Agreement On October 8, 2015, we entered into a Shelf Agreement with Prudential. Under the terms of the Shelf Agreement, we may request that Prudential purchase, over the next three years, up to $150.0 million of our Shelf Notes at a fixed interest rate and with a maturity date not to exceed 20 years from the date of issuance. Prudential is under no obligation to purchase any of the Shelf Notes. The interest rate and terms of payment of any series of Shelf Notes will be determined at the time of purchase. We currently anticipate the proceeds from the sale of any series of Shelf Notes will be used for general corporate purposes, including refinancing of short-term borrowing and/or repayment of outstanding indebtedness and financing capital expenditures on future projects; however, actual use of such proceeds will be determined at the time of a purchase, and each request for purchase with respect to a series of Shelf Notes will specify the exact use of the proceeds. The Shelf Agreement sets forth certain business covenants to which we are subject when any Shelf Note is outstanding, including covenants that limit or restrict us and our subsidiaries from incurring indebtedness and incurring liens and encumbrances on any of our property.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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