Debt

The Company is party to borrowing arrangements with a syndicate of banks. See Note 5 in the Company’s 2016 Form 10-K for a description of these arrangements. Total borrowing capacity for the Company under all lines of credit is currently at $871.3 million, including $21.3 million of debt of The Andersons Denison Ethanol LLC ("TADE"), which is non-recourse to the Company. At March 31, 2017, the Company had a total of $553.6 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 March 31, 2017.

The Company’s short-term and long-term debt at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following:



(in thousands)	March 31, 2017		December 31, 2016		March 31, 2016
Short-term Debt - Recourse	$	255,000	$	29,000	$	274,002
Total Short-term Debt	255,000		29,000		274,002

Current Maturities of Long-term Debt – Recourse	56,144		47,545		54,044
Total Current Maturities of Long-term Debt	56,144		47,545		54,044

Long-term Debt, Less: Current Maturities – Recourse	365,971		397,065		402,360
Total Long-term Debt, Less: Current Maturities	$	365,971	$	397,065	$	402,360