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Debt | 9 Months Ended
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Sep. 30, 2014
Debt Disclosure [Abstract] |
Debt | Debt The Company is party to borrowing arrangements with a syndicate of banks. One such agreement was amended on March 4, 2014 and provides the Company with $850 million in line of credit. The Company can designate up to $400 million of borrowings as long-term when the debt is used for long-term purposes such as replacing long-term debt that is maturing, funding the purchase of long-term assets, or increasing permanent working capital when needed. The maturity date for the line of credit is March 2019. See Note 10 in the Company’s 2013 Form 10-K for an additional description of the remaining arrangements. Total borrowing capacity for the Company under all lines of credit is currently at $878.1 million, including $28.1 million non-recourse debt of The Andersons Denison Ethanol LLC ("TADE"). At September 30, 2014, the Company had a total of $847.1 million available for borrowing under its lines of credit. Our borrowing capacity is reduced by a combination of outstanding borrowings and letters of credit. The Company was in compliance with all financial and non-financial covenants as of September 30, 2014. The Company’s short-term and long-term debt at September 30, 2014, December 31, 2013 and September 30, 2013 consisted of the following:
(in thousands) | September 30, 2014 |  | December 31, 2013 |  | September 30, 2013
Short-term debt – non-recourse | $ | — |  |  | $ | — |  |  | $ | — |
Short-term debt – recourse | 451 |  |  | — |  |  | — |
Total short-term debt | $ | 451 |  |  | $ | — |  |  | $ | — |
Current maturities of long-term debt – non-recourse | $ | — |  |  | $ | 6,012 |  |  | $ | 3,277 |
Current maturities of long-term debt – recourse | 76,757 |  |  | 45,986 |  |  | 40,955 |
Total current maturities of long-term debt | $ | 76,757 |  |  | $ | 51,998 |  |  | $ | 44,232 |
Long-term debt, less current maturities – non-recourse | $ | — |  |  | $ | 4,063 |  |  | $ | 8,223 |
Long-term debt, less current maturities – recourse | 289,448 |  |  | 371,150 |  |  | 372,795 |
Total long-term debt, less current maturities | $ | 289,448 |  |  | $ | 375,213 |  |  | $ | 381,018 |

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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 SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: 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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