Debt (Tables)

12 Months Ended

Dec. 31, 2017

5. Debt



	December 31,
	2017		2016
Debt classified as current liabilities:
Hancock County industrial revenue bonds ("IRBs") due 2028, interest payable quarterly (variable interest rates (not to exceed 12%)) ⁽¹⁾	$	7,815	$	7,815
Debt classified as non-current liabilities:
7.5% senior secured notes due June 1, 2021, net of debt discount of $1,847 and $2,301, respectively, interest payable semiannually	248,153		247,699
Total	$	255,968	$	255,514


⁽¹⁾	The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The IRB interest rate at December 31,

Schedule of line of credit facilities

Status of our Iceland revolving credit facility:



	December 31, 2017
Credit facility maximum amount	$	50,000
Borrowing availability	50,000
Outstanding letters of credit issued	—
Outstanding borrowings	—
Borrowing availability, net of outstanding letters of credit and borrowings	$	50,000

Status of our U.S. revolving credit facility:



	December 31, 2017
Credit facility maximum amount	$	150,000
Borrowing availability	147,706
Outstanding letters of credit issued	37,857
Outstanding borrowings	—
Borrowing availability, net of outstanding letters of credit and borrowings	$	109,849

Schedule of debt instrument redemption

We may redeem the 2021 Notes, in whole or in part, during the twelve-month period beginning on June 1 of the years indicated below, at the following redemption prices plus accrued and unpaid interest:



Year - Redemption rights		Percentage
2018		101.875%
2019 and thereafter		100.000%

Schedule of offsetting of financial instruments and derivatives

The following table provides information about the balance sheet location and gross amounts offset:



Offsetting of financial instruments and derivatives	Balance sheet location	December 31, 2017			December 31, 2016
Contingent obligation – principal	Other liabilities	$	(12,902	)	$	(12,902	)
Contingent obligation – accrued interest	Other liabilities	(9,524		)	(8,113		)
Contingent obligation – derivative asset	Other liabilities	22,426			21,015
		$	—		$	—