Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Instrument [Line Items]

Long-term debt

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

	December 31,
(in thousands)	2016		2015
Short-term debt - non-recourse	$	—	$	—
Short-term debt - recourse	29,000		16,990
Total short-term debt	$	29,000	$	16,990
Current maturities of long-term debt – non-recourse	$	—	$	—
Current maturities of long-term debt – recourse	47,545		27,786
Total current maturities of long-term debt	$	47,545	$	27,786
Long-term debt, less current maturities – non-recourse	$	—	$	—
Long-term debt, less current maturities – recourse	397,065		436,208
Total long-term debt, less current maturities	$	397,065	$	436,208

Schedule of Short-term Debt

The following information relates to short-term borrowings:

	December 31,
(in thousands, except percentages)	2016			2015			2014
Maximum amount borrowed	$	412,000		$	308,500		$	270,600
Weighted average interest rate	1.94		%	1.64		%	1.69		%

Recourse

Debt Instrument [Line Items]

Long-term debt

Long-term debt consists of the following:

	December 31,
(in thousands, except percentages)	2016		2015
Note payable, 4.07%, payable at maturity, due 2021	$	26,000	$	—
Note payable, 3.72%, payable at maturity, due 2017	25,000		25,000
Note payable, 4.55%, payable at maturity, due 2023	24,000		—
Note payable, 4.85%, payable at maturity, due 2026	25,000		—
Note payable, 6.78%, payable at maturity, due 2018	41,500		41,500
Note payable, 4.92%, payable in increasing amounts ($2.2 million for 2016), plus interest, due 2021 (a)	20,443		22,666
Note payable, 4.76%, payable in increasing amounts ($2.0 million for 2016) plus interest, due 2028 (a)	47,990		49,949
Note payable, variable rate (3.12% at December 31, 2016), payable in increasing amounts ($1.3 million for 2016) plus interest, due 2023 (a)	19,179		20,513
Note payable, 3.29%, payable in increasing amounts ($1.3 million for 2016) plus interest, due 2022 (a)	21,619		22,913
Note payable, 4.23%, payable quarterly in varying amounts ($0.6 million for 2016) plus interest, due 2021 (a)	11,136		11,770
Notes payable, variable rate, due 2016	—		5,043
Note payable, variable rate (2.21% at December 31, 2016), payable in increasing amounts ($1.1 million for 2016) plus interest, due 2023 (a)	8,790		9,865
Note payable, variable rate, due 2016 (a)	—		7,350
Note payable, variable rate (2.45% at December 31, 2016), payable in varying amounts ($0.1 million for 2016), plus interest, due 2026 (a)	9,016		—
Note payable, 4.76%, payable quarterly in varying amounts ($0.4 million for 2016) plus interest, due 2028 (a)	8,956		9,313
Note payable, 2.21%, payable at maturity ($75.0 million for 2016) plus interest, due 2019	30,000		105,000
Note payable, 3.33%, payable in increasing amounts ($1.0 million for 2016) plus interest, due 2025 (a)	27,000		28,000
Note payable, 4.5%, payable at maturity, due 2030	16,000		16,000
Note payable, 5.0%, payable at maturity, due 2040	14,000		14,000
Industrial development revenue bonds:
Variable rate (3.05% at December 31, 2016), payable at maturity, due 2017 (a)	6,513		6,987
Variable rate (2.36% at December 31, 2016), payable at maturity, due 2019 (a)	4,650		4,650
Variable rate (2.31% at December 31, 2016), payable at maturity, due 2025 (a)	3,100		3,100
Variable rate (2.28% at December 31, 2016), payable at maturity, due 2036	21,000		21,000
Debenture bonds, 2.65% to 5.00%, due 2017 through 2031	36,931		39,375
	$	447,823	$	463,994
Less: current maturities	47,545		27,786
Less: unamortized prepaid debt issuance costs	3,213		—
	$	397,065	$	436,208

(a) Debt is collateralized by first mortgages on certain facilities and related equipment or other assets with a book value of$179.3 million