XML 28 R16.htm IDEA: XBRL DOCUMENT

Long-Term Debt

3 Months Ended

Mar. 31, 2017

Long-Term Debt [Abstract]

9.LONG-TERM DEBT

Long-term debt consists of the following:


		March 31, 2017			December 31, 2016
Revolver under Credit Agreement, bearing interest ranging from 2.02% to 4.25% (a)		$	636,915		$	310,582
Term loan under Credit Agreement, bearing interest at 2.18% (a)			1,637,500			1,637,500
2018 Notes, bearing interest at 4.00%			50,000			50,000
2019 Notes, bearing interest at 5.25%			175,000			175,000
2021 Notes, bearing interest at 4.64%			100,000			100,000
New 2021 Notes, bearing interest at 2.39%			150,000			150,000
2022 Notes, bearing interest at 3.09%			125,000			125,000
2023 Notes, bearing interest at 2.75%			200,000			200,000
2025 Notes, bearing interest at 3.41%			375,000			375,000
2026 Notes, bearing interest at 3.03%			400,000			400,000
Tax-exempt bonds, bearing interest ranging from 0.90% to 0.96% (a)			95,430			95,430
Notes payable to sellers and other third parties, bearing interest at 2.00% to 24.81% (a)			27,045			14,180
			3,971,890			3,632,692
Less – current portion			(11,439)			(1,650)
Less – debt issuance costs			(14,273)			(14,282)
		$	3,946,178		$	3,616,760

____________________

(a) Interest rates represent the interest rates incurred at March 31, 2017.

Details of the Credit Agreement are as follows:


			March 31, 2017			December 31, 2016
Revolver under Credit Agreement
Available		$	698,568		$	1,004,451
Letters of credit outstanding		$	227,017		$	247,467
Total amount drawn, as follows:		$	636,915		$	310,582
Amount drawn – U.S. LIBOR rate loan		$	350,600		$	-
Interest rate applicable – U.S. LIBOR rate loan			2.02%			Not applicable
Amount drawn – U.S. base rate loan		$	3,000		$	-
Interest rate applicable – U.S. base rate loan			4.25%			Not applicable
Amount drawn – Canadian prime rate loan		$	11,345		$	7,448
Interest rate applicable - Canadian prime rate loan			2.95%			2.95%
Amount drawn – Canadian BA loan		$	271,970		$	303,134
Interest rate applicable – Canadian BA loan			2.11%			2.13%
Commitment – rate applicable			0.15%			0.15%
Term loan under Credit Agreement
Amount drawn – U.S. based LIBOR loan		$	1,637,500		$	1,637,500
Interest rate applicable – U.S. based LIBOR loan			2.18%			1.97%