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Debt | 3 Months Ended
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Mar. 31, 2016
Debt Disclosure [Abstract] |
Debt | Debt The Company is party to borrowing arrangements with a syndicate of banks. See Note 5 in the Company’s 2015 Form 10-K for a description of these arrangements. Total borrowing capacity for the Company under all lines of credit is currently at $873.7 million, including $23.7 million of debt of The Andersons Denison Ethanol LLC ("TADE"), which is non-recourse to the Company. At March 31, 2016, the Company had a total of $538.6 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 covenants as of March 31, 2016. The Company’s short-term and long-term debt at March 31, 2016, December 31, 2015 and March 31, 2015 consisted of the following:
(in thousands) | March 31, 2016 |  | December 31, 2015 |  | March 31, 2015
Short-term debt – recourse | $ | 274,002 |  |  | $ | 16,990 |  |  | $ | 311,660 |
Total short-term debt | 274,002 |  |  | 16,990 |  |  | 311,660 |
Current maturities of long-term debt – non-recourse | — |  |  | — |  |  | — |
Current maturities of long-term debt – recourse | 54,044 |  |  | 27,786 |  |  | 19,037 |
Total current maturities of long-term debt | 54,044 |  |  | 27,786 |  |  | 19,037 |
Long-term debt, less current maturities – non-recourse | — |  |  | — |  |  | — |
Long-term debt, less current maturities – recourse | 402,360 |  |  | 436,208 |  |  | 323,258 |
Total long-term debt, less current maturities | $ | 402,360 |  |  | $ | 436,208 |  |  | $ | 323,258 |
In the first quarter of 2016, the Company completed an agreement for $75.0 million in senior notes payable. The notes payable include $26.0 million with an interest rate of 4.1% due 2021, $24.0 million with an interest rate of 4.6% due 2023, and $25.0 million with an interest rate of 4.9% due 2026, subject to debt covenants similar to the Company's other borrowing 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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