Debt

The Company is party to borrowing arrangements with a syndicate of banks. See Note 10 in the Company’s 2014 Form 10-K for a description of these arrangements. Total borrowing capacity for the Company under all lines of credit is currently at $876.6 million, including $26.6 million of debt of The Andersons Denison Ethanol LLC ("TADE"), which is non-recourse to the Company. At June 30, 2015, the Company had a total of $602.2 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 June 30, 2015.

The Company’s short-term and long-term debt at June 30, 2015, December 31, 2014 and June 30, 2014 consisted of the following:



(in thousands)	June 30, 2015		December 31, 2014		June 30, 2014
Short-term debt – recourse	141,250		2,166		27,000
Total short-term debt	$	141,250	$	2,166	$	27,000
Current maturities of long-term debt – non-recourse	$	—	$	—	$	3,100
Current maturities of long-term debt – recourse	27,188		76,415		86,287
Total current maturities of long-term debt	$	27,188	$	76,415	$	89,387
Long-term debt, less current maturities – non-recourse	$	—	$	—	$	2,515
Long-term debt, less current maturities – recourse	417,279		298,638		297,705
Total long-term debt, less current maturities	$	417,279	$	298,638	$	300,220