Short-term debt at March 31, 2016 and December 31, 2015 was as follows:



	March 31, 2016		December 31, 2015
Variable-rate Accounts Receivable Facility with interest rate of 1.05% at December 31, 2015	$	—	$	49.0
Borrowings under variable-rate lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.44% to 10.5% at March 31, 2016 and 0.31% to 0.44% at December 31, 2015, respectively.	0.2		13.0
Short-term debt	$	0.2	$	62.0

The lines of credit for certain of the Company’s foreign subsidiaries provide for short-term borrowings up to $225.0 million. Most of these lines of credit are uncommitted. At March 31, 2016, the Company’s foreign subsidiaries had borrowings outstanding of $0.2 million and bank guarantees of $1.1 million, which reduced the availability under these facilities to $223.7 million.

Long-term debt at March 31, 2016 and December 31, 2015 was as follows:



	March 31, 2016		December 31, 2015
Fixed-rate Medium-Term Notes, Series A, mature at various dates through May 2028, with interest rates ranging from 6.74% to 7.76%	$	174.4	$	174.4
Fixed-rate Senior Unsecured Notes, maturing on September 1, 2024, with an interest rate of 3.875%	345.1		344.8
Variable-rate Senior Credit Facility with an interest rate of 1.66% at March 31, 2016 and 1.45% at December 31, 2015, respectively.	120.9		75.2
Variable-rate Accounts Receivable Facility with interest rate of 1.28% at March 31, 2016	48.0		—
Other	0.1		0.1
	$	688.5	$	594.5
Less current maturities	15.1		15.1
Long-term debt	$	673.4	$	579.4

The Company has a $500 million Amended and Restated Credit Agreement (Senior Credit Facility), which matures on June 19, 2020. At March 31, 2016, the Company had $120.9 million of outstanding borrowings under the Senior Credit Facility, which reduced the availability under this facility to $379.1 million. Under the Senior Credit Facility, the Company has two financial covenants: a consolidated leverage ratio and a consolidated interest coverage ratio. At March 31, 2016, the Company was in full compliance with both of these covenants under the Senior Credit Facility.

The Company has a $100 million Amended and Restated Asset Securitization Agreement (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, which 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 by certain borrowing base limitations. These limitations reduced the availability of the Accounts Receivable Facility to $71.0 million at March 31, 2016. As of March 31, 2016, there were outstanding borrowings of $48.0 million under the Accounts Receivable Facility, which reduced the availability under this facility to $23.0 million. The cost of this facility, which is the prevailing commercial paper rate plus program fees, is considered a financing cost and is included in interest expense in the Consolidated Statements of Income. The outstanding balance under the Accounts Receivable Facility was classified as long-term debt as of March 31, 2016, to align with the term of the agreement and reflect the Company's expectations relative to the minimum borrowing base. The outstanding balance under the Accounts Receivable Facility was classified as short-term debt as of December 31, 2015, based on the same criteria.