Debt

9 Months Ended

Sep. 30, 2018

The Company has a line of credit agreement with a syndicate of banks. The agreement provides for a credit facility of $800 million. During the third quarter, the Andersons Railcar Leasing Company LLC amended and restated their revolving asset based loan agreement, increasing the credit facility to $200.0 million. Total borrowing capacity for the Company under all lines of credit is currently at $1,085.0 million, including subsidiary debt that is non-recourse to the Company of $15.0 million for The Andersons Denison Ethanol LLC ("TADE"), $70.0 million for ELEMENT LLC and $200.0 million for The Andersons Railcar Leasing Company LLC. At September 30, 2018, the Company had a total of $823.1 million available for borrowing under its lines of credit. The Company's 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, 2018.

The Company’s short-term and long-term debt at September 30, 2018, December 31, 2017 and September 30, 2017 consisted of the following:



(in thousands)	September 30, 2018		December 31, 2017		September 30, 2017
Short-term Debt – Non-Recourse	$	—	$	—	$	—
Short-term Debt – Recourse	132,000		22,000		19,000
Total Short-term Debt	$	132,000	$	22,000	$	19,000

Current Maturities of Long-term Debt – Non-Recourse	$	3,772	$	—	$	—
Current Maturities of Long-term Debt – Recourse	11,905		54,205		53,972
Total Current Maturities of Long-term Debt	$	15,677	$	54,205	$	53,972

Long-term Debt, Less: Current Maturities – Non-Recourse	$	77,114	$	—	$	—
Long-term Debt, Less: Current Maturities – Recourse	360,166		418,339		371,315
Total Long-term Debt, Less: Current Maturities	$	437,280	$	418,339	$	371,315