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Debt
9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Debt
Note 4 - Debt
 
Indebtedness outstanding was as follows:
 
 
 
September 30,
 
December 31,
 
 
2015
 
2014
Short-term debt:
 
 
 
 
 
 
 
 
 
 
Bank Credit Facility, expires July 30, 2019
 
 
$
113,000
 
 
 
$
38,000
 
Long-term debt, current and noncurrent (1):
 
 
 
 
 
 
 
 
 
 
6.05% Senior Notes, due June 15, 2015. Aggregate principal amount of $75,000 less unaccrued discount of $0 and $11 (6.1% imputed rate)
 
 
 
-
 
 
 
 
74,989
 
6.85% Senior Notes, due April 15, 2016. Aggregate principal amount of $125,000 less unaccrued discount of $21 and $50 (6.9% imputed rate)
 
 
 
124,979
 
 
 
 
124,950
 
Total
 
 
$
237,979
 
 
 
$
237,939
 
 
 
(1)
The Company designates debt obligations as “long-term” based on maturity date at issuance.
 
The Credit Agreement with Financial Institutions (“Bank Credit Facility”), 6.05% Senior Notes due 2015 (“Senior Notes due 2015”) and 6.85% Senior Notes due 2016 (“Senior Notes due 2016”) are described in “Notes to Consolidated Financial Statements — Note 5 — Debt” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
 
Maturity of Senior Notes due 2015
 
On June 15, 2015, the Senior Notes due 2015 matured and the Company repaid the $75,000 aggregate principal amount utilizing $75,000 of additional borrowing under the existing Bank Credit Facility.
 
Debt Retirement Charges
 
The repayment of the Senior Notes due 2015 resulted in no pretax charges to income for the three and nine months ended September 30, 2015.
 
Universal Shelf Registration
 
To provide additional capital management flexibility, the Company filed a “universal shelf” registration on Form S-3 with the SEC on March 12, 2015. The registration statement, which registered the offer and sale by the Company from time to time of an indeterminate amount of various securities, which may include debt securities, common stock, preferred stock, depositary shares, warrants, delayed delivery contracts and/or units that include any of these securities, was automatically effective on March 12, 2015. Unless withdrawn by the Company earlier, this registration statement will remain effective through March 12, 2018. No securities associated with the registration statement have been issued as of the date of this Quarterly Report on Form 10-Q. In addition to the Form S-3 entry to the capital markets, HMEC met the requirements of a “well-known seasoned issuer”, as defined by the SEC, as of December 31, 2014.