Short-term debt for the years ended December 31 was as follows:



	2015		2014
Variable-rate Accounts Receivable Facility with interest rate of 1.05% at December 31, 2015	$	49.0	$	—
Variable-rate lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.31% to 0.44% and 0.51% to 5.13% at December 31, 2015 and 2014, respectively	13.0		7.4
Short-term debt	$	62.0	$	7.4

The lines of credit for certain of the Company’s foreign subsidiaries provide for borrowings up to $217.9 million. Most of these lines of credit are uncommitted. At December 31, 2015, the Company’s foreign subsidiaries had borrowings outstanding of $13.0 million and guarantees of $4.4 million, which reduced the availability under these facilities to $200.5 million.

The weighted-average interest rate on short-term debt during the year was 1.1%, 3.1% and 3.2% in 2015, 2014 and 2013, respectively. The weighted-average interest rate on short-term debt outstanding at December 31, 2015 and 2014 was 0.90% and 1.39%, respectively. The decrease in the weighted-average interest rate was primarily due to increased borrowings in the U.S. at a lower rate.

The Company has a $100 million Accounts Receivable Facility that matures on November 30, 2018. Under the terms of the Accounts Receivable Facility, the Company sells, on an ongoing basis, certain domestic trade receivables to Timken Receivables Corporation, a wholly-owned consolidated subsidiary that in turn uses the trade receivables to secure borrowings which are funded through a vehicle that issues commercial paper in the short-term market. Borrowings under the Accounts Receivable Facility are limited to certain borrowing base calculations. Any amounts outstanding under this Accounts Receivable Facility would be reported in short-term debt on the Company's Consolidated Balance Sheets. Certain borrowing base limitations reduced the availability of the Accounts Receivable Facility to $54.6 million at December 31, 2015. As of December 31, 2015, there were outstanding borrowings of $49.0 million under the Accounts Receivable Facility, which reduced the availability under this facility to $5.6 million. As of December 31, 2014, there were no outstanding borrowings under the Accounts Receivable Facility. The cost of this facility, which is the commercial paper rate plus program fees, is considered a financing cost and is included in interest expense in the Consolidated Statements of Income. The yield rate was 1.05%, 0.20% and 0.96%, at December 31, 2015, 2014 and 2013, respectively.

Long-term debt for the years ended December 31 was as follows:

	2015		2014
Fixed-rate Medium-Term Notes, Series A, mature at various dates through May 2028, with interest rates ranging from 6.74% to 7.76%	$	175.0	$	175.0
Fixed-rate Senior Unsecured Notes, maturing on September 1, 2024, with an interest rate of 3.875%	345.4		346.4
Variable-rate Senior Credit Facility with an interest rate of 1.45% at December 31, 2015	75.2		—
Other	0.1		1.3
Total debt	$	595.7	$	522.7
Less current maturities	15.1		0.6
Long-term debt	$	580.6	$	522.1

The Company has a $500 million Senior Credit Facility, which matures on June 19, 2020. At December 31, 2015, the Company had $75.2 million of outstanding borrowings under the Senior Credit Facility, which reduced the availability under this facility to $424.8 million. Under the Senior Credit Facility, the Company has two financial covenants: a consolidated leverage ratio and a consolidated interest coverage ratio. At December 31, 2015, the Company was in full compliance with the covenants under the Senior Credit Facility.

On August 20, 2014, the Company issued the 2024 Notes. The Company used the net proceeds from the issuance of the 2024 Notes to repay the Company's 2014 Notes and for general corporate purposes.

The maturities of long-term debt for the five years subsequent to December 31, 2015 are as follows: 2016 – $15.1 million; 2017 – $5.0 million; 2018 – zero; 2019 – zero and 2020 - $75.2 million.

Interest paid was $32.1 million in 2015, $34.4 million in 2014 and $31.0 million in 2013. This differs from interest expense due to the timing of payments and interest capitalized of zero in 2015, $1.6 million in 2014 and $12.7 million in 2013.

The Company and its subsidiaries lease a variety of real property and equipment. Rent expense under operating leases amounted to $33.5 million, $33.0 million and $35.6 million in 2015, 2014 and 2013, respectively. At December 31, 2015, future minimum lease payments for noncancelable operating leases totaled $142.2 million and are payable as follows: 2016 - $35.1 million; 2017 - $29.4 million; 2018 - $24.4 million; 2019 - $20.8 million; 2020 - $18.5 million and $14.0 million thereafter.