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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Senior Unsecured Notes Issued

On May 11, 2023, the Company issued the following senior unsecured notes:

Senior Unsecured Notes		Term		Interest Rate		Face Value (in millions)		Maturity Date
Series P		5 years		4.91%		$50		May 2028
Series Q		7 years		4.91%		$50		May 2030

Summary of Outstanding Debt

The Company had the following outstanding debt at December 31, 2023 and 2022 (in thousands):

		December 31, 2023				December 31, 2022
Senior unsecured notes - Series I - 3.13%, due May 2023		$	—			$	50,000
Senior unsecured notes - Series G - 3.92%, due June 2024			50,000				—
Total notes payable and debt, current			50,000				50,000
Senior unsecured notes - Series G - 3.92%, due June 2024			—				50,000
Senior unsecured notes - Series H - floating rate*, due June 2024			—				50,000
Senior unsecured notes - Series K - 3.44%, due May 2026			160,000				160,000
Senior unsecured notes - Series L - 3.31%, due September 2026			200,000				200,000
Senior unsecured notes - Series M - 3.53%, due September 2029			300,000				300,000
Senior unsecured notes - Series N - 1.68%, due March 2026			100,000				100,000
Senior unsecured notes - Series O - 2.25%, due March 2031			400,000				400,000
Senior unsecured notes - Series P - 4.91%, due May 2028			50,000				—
Senior unsecured notes - Series Q - 4.91%, due May 2030			50,000				—
Credit agreement			1,050,000				270,000
Unamortized debt issuance costs			(4,487	)			(5,122	)
Total long-term debt			2,305,513				1,524,878
Total debt		$	2,355,513			$	1,574,878

* Series H senior unsecured notes bear interest at a 3-month LIBOR for that floating rate interest period plus 1.25%.

Schedule of Debt Maturities

Annual maturities of debt outstanding at December 31, 2023 are as follows (in thousands):

		Total
2024		$	50,000
2025			—
2026			1,510,000
2027			—
2028			50,000
Thereafter			750,000
Total		$	2,360,000

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