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 $872.5 million, including $22.5 million of debt of The Andersons Denison Ethanol LLC ("TADE"), which is non-recourse to the Company. At September 30, 2016, the Company had a total of $809.9 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 September 30, 2016.

The Company’s short-term and long-term debt at September 30, 2016, December 31, 2015 and September 30, 2015 consisted of the following:



(in thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Short-term Debt - Recourse	$	—	$	16,990	$	82,801
Total Short-term Debt	—		16,990		82,801

Current Maturities of Long-term Debt – Recourse	51,520		27,786		26,989
Total Current Maturities of Long-term Debt	51,520		27,786		26,989

Long-term Debt, Less: Current Maturities – Recourse	395,559		436,208		413,561
Total Long-term Debt, Less: Current Maturities	$	395,559	$	436,208	$	413,561