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Debt (Tables) | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Schedule of debt |
| December 31,
| 2015 | 2014
Debt classified as current liabilities: |  |
Hancock County industrial revenue bonds ("IRBs") due 2028, interest payable quarterly (variable interest rates (not to exceed 12%)) (1) | $ | 7,815 |  | $ | 7,815 |
Debt classified as non-current liabilities: |  |  |
7.5% senior secured notes due June 1, 2021, net of debt discount of $2,722 and $3,112, respectively, interest payable semiannually | 247,278 |  | 246,888 |
Total | $ | 255,093 |  | $ | 254,703 |
(1) | The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The IRB interest rate at December 31, 2015 was 0.21%.
Schedule of line of credit facilities | Status of our U.S. revolving credit facility:
| December 31, 2015
Credit facility maximum amount | $ | 150,000 |
Borrowing availability | 81,292 |
Outstanding letters of credit issued | 46,346 |
Outstanding borrowings | — |
Borrowing availability, net of outstanding letters of credit and borrowings | 34,946 |
Status of our Iceland revolving credit facility:
| December 31, 2015
Credit Facility maximum amount | $ | 50,000 |
Borrowing availability | 49,294 |
Outstanding letters of credit issued | — |
Outstanding borrowings | — |
Borrowing availability, net of outstanding letters of credit and borrowings | 49,294 |
Debt Instrument Redemption | Prior to June 1, 2016, we may redeem the 2021 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus a make-whole premium, and if redeemed during the twelve-month period beginning on June 1 of the years indicated below, at the following redemption prices plus accrued and unpaid interest:
Year | Percentage
2016 | 105.625%
2017 | 103.750%
2018 | 101.875%
2019 and thereafter | 100.000%
Offsetting of financial instruments and derivatives | The following table provides information about the balance sheet location and gross amounts offset:
Offsetting of financial instruments and derivatives |  |  |
| Balance sheet location | December 31, 2015 | December 31, 2014
E.ON contingent obligation – principal | Other liabilities | $ | (12,902 | ) | $ | (12,902 | )
E.ON contingent obligation – accrued interest | Other liabilities | (6,702 | ) | (5,291 | )
E.ON contingent obligation – derivative asset | Other liabilities | 19,604 |  | 18,193 |
|  | $ | — |  | $ | — |

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