Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Short-term and Long-term Debt

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

	December 31,
(in thousands)	2018		2017
Short-term debt - non-recourse	$	—	$	—
Short-term debt - recourse	205,000		22,000
Total short-term debt	$	205,000	$	22,000
Current maturities of long-term debt – non-recourse	$	4,842	$	—
Current maturities of long-term debt – recourse	16,747		54,205
Total current maturities of long-term debt	$	21,589	$	54,205
Long-term debt, less current maturities – non-recourse	$	146,353	$	—
Long-term debt, less current maturities – recourse	349,834		418,339
Total long-term debt, less current maturities	$	496,187	$	418,339

Schedule of Short-term Borrowings

The following information relates to short-term borrowings:

(in thousands, except percentages)	2018			2017			2016
Maximum amount borrowed	$	555,000		$	367,000		$	412,000
Weighted average interest rate	3.32		%	2.56		%	1.94		%

Schedule of Long-term Debt

Long-term debt consists of the following:

	December 31,
(in thousands, except percentages)	2018		2017
Note payable, 4.07%, payable at maturity, due 2021	$	26,000	$	26,000
Note payable, 4.55%, payable at maturity, due 2023	24,000		24,000
Note payable, 4.85%, payable at maturity, due 2026	25,000		25,000
Note payable, 6.78%, payable at maturity, paid 2018	—		41,500
Note payable, 4.92%, payable in increasing amounts ($2.0 million for 2018), plus interest, due 2021 (a)	16,227		18,241
Note payable, 4.76%, payable in increasing amounts ($1.6 million for 2018) plus interest, due 2028 (a)	44,330		45,936
Note payable, variable rate (4.85% at December 31, 2018), payable in increasing amounts ($1.3 million for 2018) plus interest, due 2023 (a)	16,452		17,786
Note payable, 3.29%, payable in increasing amounts ($1.4 million for 2018) plus interest, due 2022 (a)	18,918		20,293
Note payable, 4.23%, payable quarterly in varying amounts ($0.5 million for 2018) plus interest, due 2021 (a)	9,948		10,479
Note payable, variable rate (4.19% at December 31, 2018), payable in varying amounts ($0.3 million for 2018), plus interest, due 2026 (a)	8,417		8,762
Note payable, 4.76%, payable quarterly in varying amounts ($0.3 million for 2018) plus interest, due 2028 (a)	8,288		8,581
Line of credit, variable rate (3.79% at December 31, 2018), payable at maturity, due 2022	50,000		100,000
Note payable, 3.33%, payable in increasing amounts ($1.1 million for 2018) plus interest, due 2025 (a)	24,888		25,960
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
Note payable, variable rate (4.15% at December 31, 2018), payable quarterly, ($1.25 million for 2018) due 2024 (a)	13,250		14,500
Industrial development revenue bonds:
Variable rate (3.19% at December 31, 2018), payable at maturity, due 2019 (a)	4,650		4,650
Variable rate (3.18% at December 31, 2018), payable at maturity, due 2025 (a)	3,100		3,100
Variable rate (3.14% at December 31, 2018), payable at maturity, due 2036	21,000		21,000
Debenture bonds, 2.65% to 5.00%, due 2018 through 2032	27,323		30,432
	$	371,791	$	476,220
Less: current maturities	16,747		54,205
Less: unamortized prepaid debt issuance costs	5,210		3,676
	$	349,834	$	418,339

(a) Debt is collateralized by first mortgages on certain facilities and related equipment or other assets with a book value of $143.8 million