|3 Months Ended|
Mar. 31, 2016
|Debt Disclosure [Abstract]|
As of March 31, 2016, AFI had no outstanding long-term debt. As of December 31, 2015, outstanding long-term debt of $10.0 million consisted of a variable rate tax-exempt industrial development bond that financed the construction of a Wood Flooring plant in Somerset, Kentucky. During the first quarter of 2016, this bond was defeased by paying $10.1 million, including $0.1 million of accrued interest, to the trustee in anticipation of a planned redemption at the next interest payment date of April 1, 2016.
As of March 31, 2016, AFI had $0.7 million of letters of credit outstanding.
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://www.xbrl.org/2003/role/presentationRef