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Long-Term Debt | 6 Months Ended
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Jun. 30, 2019
Long-Term Debt [Abstract] |
Long-Term Debt | 10.LONG-TERM DEBT The following table presents the Company’s long-term debt as of June 30, 2019 and December 31, 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31, | ​
​ |  | 2019 |  | 2018 |
Revolver under Credit Agreement, bearing interest ranging from 3.06% to 3.50% (a) | ​ | $ | 472,179 | ​ | $ | 481,610 | ​
Term loan under Credit Agreement, bearing interest at 3.50% (a) | ​ |  | 700,000 | ​ |  | 1,237,500 | ​
5.25% Senior Notes due 2019 | ​ |  | 175,000 | ​ |  | 175,000 | ​
4.64% Senior Notes due 2021 | ​ |  | 100,000 | ​ |  | 100,000 | ​
2.39% Senior Notes due 2021 | ​ |  | 150,000 | ​ |  | 150,000 | ​
3.09% Senior Notes due 2022 | ​ |  | 125,000 | ​ |  | 125,000 | ​
2.75% Senior Notes due 2023 | ​ |  | 200,000 | ​ |  | 200,000 | ​
3.24% Senior Notes due 2024 | ​ |  | 150,000 | ​ |  | 150,000 | ​
3.41% Senior Notes due 2025 | ​ |  | 375,000 | ​ |  | 375,000 | ​
3.03% Senior Notes due 2026 | ​ |  | 400,000 | ​ |  | 400,000 | ​
3.49% Senior Notes due 2027 | ​ |  | 250,000 | ​ |  | 250,000 | ​
4.25% Senior Notes due 2028 | ​ | ​ | 500,000 | ​ | ​ | 500,000 | ​
3.50% Senior Notes due 2029 | ​ | ​ | 500,000 | ​ | ​ | — | ​
Tax-exempt bonds | ​ |  | — | ​ |  | 15,930 | ​
Notes payable to sellers and other third parties, bearing interest ranging from 2.75% to 10.90%, principal and interest payments due periodically with due dates ranging from 2019 to 2036 (a) | ​ |  | 9,982 | ​ |  | 14,653 | ​
​ | ​ |  | 4,107,161 | ​ |  | 4,174,693 | ​
Less – current portion | ​ |  | (798) | ​ |  | (1,786) | ​
Less – debt issuance costs | ​ |  | (23,487) | ​ |  | (19,442) | ​
​ | ​ | $ | 4,082,876 | ​ | $ | 4,153,465 | ​
____________________
(a) | Interest rates represent the interest rates incurred at June 30, 2019.
​ 2029 Senior Notes On April 16, 2019, the Company completed an underwritten public offering of $500,000 aggregate principal amount of 3.50% Senior Notes due 2029 (the “2029 Senior Notes”). The 2029 Senior Notes were issued under the Indenture, dated as of November 16, 2018 (the “Base Indenture”), by and between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the Second Supplemental Indenture, dated as of April 16, 2019 (the Base Indenture as so supplemented, the “Indenture”). The Company will pay interest on the 2029 Senior Notes semi-annually, commencing on November 1, 2019, and the 2029 Senior Notes will mature on May 1, 2029. The 2029 Senior Notes are senior unsecured obligations, ranking equally in right of payment with the Company’s other existing and future unsubordinated debt and senior to any of the Company’s future subordinated debt. The 2029 Senior Notes are not guaranteed by any of the Company’s subsidiaries. The Company may redeem some or all of the 2029 Senior Notes at its option prior to February 1, 2029 (three months before the maturity date) at any time and from time to time at a redemption price equal to the greater of 100% of the principal amount of the 2029 Senior Notes redeemed, or the sum of the present values of the remaining scheduled payments of principal and interest on the 2029 Senior Notes redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Commencing on February 1, 2029 (three months before the maturity date), the Company may redeem some or all of the 2029 Senior Notes, at any time and from time to time, at a redemption price equal to the principal amount of the 2029 Senior Notes being redeemed plus accrued and unpaid interest to, but excluding, the redemption date. ​ Under certain circumstances, the Company may become obligated to pay additional amounts (the “Additional Amounts”) with respect to the 2029 Senior Notes to ensure that the net amounts received by each holder of the 2029 Senior Notes will not be less than the amount such holder would have received if withholding taxes or deductions were not incurred on a payment under or with respect to the 2029 Senior Notes. If such payment of Additional Amounts is a result of a change in the laws or regulations, including a change in any official position, the introduction of an official position or a holding by a court of competent jurisdiction, of any jurisdiction from or through which payment is made by or on behalf of the 2029 Senior Notes having power to tax, and the Company cannot avoid such payments of Additional Amounts through reasonable measures, then the Company may redeem the 2029 Senior Notes then outstanding at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date). ​ If the Company experiences certain kinds of changes of control, each holder of the 2029 Senior Notes may require the Company to repurchase all or a portion of the 2029 Senior Notes for cash at a price equal to 101% of the aggregate principal amount of such 2029 Senior Notes, plus any accrued but unpaid interest to, but excluding, the date of repurchase. ​ The covenants in the Indenture include limitations on liens, sale-leaseback transactions and mergers and sales of all or substantially all of the Company’s assets. The Indenture also includes customary events of default with respect to the 2029 Senior Notes. As of June 30, 2019, the Company was in compliance with all applicable covenants in the Indenture. ​ Upon an event of default, the principal of and accrued and unpaid interest on all the 2029 Senior Notes may be declared to be due and payable by the Trustee or the holders of not less than 25% in principal amount of the outstanding 2029 Senior Notes. Upon such a declaration, such principal and accrued interest on all of the 2029 Senior Notes will be due and payable immediately. In the case of an event of default resulting from certain events of bankruptcy, insolvency or reorganization, the principal (or such specified amount) of and accrued and unpaid interest, if any, on all outstanding 2029 Senior Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any holder of the 2029 Senior Notes. Credit Agreement Details of the Credit Agreement are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31, |  | ​
​ |  | 2019 |  | 2018 |  |
Revolver under Credit Agreement |  | ​ |  |  | ​ |  | ​ |
Available | ​ | $ | 982,249 | ​ | $ | 955,779 | ​ | ​
Letters of credit outstanding | ​ | $ | 108,072 | ​ | $ | 125,111 | ​ | ​
Total amount drawn, as follows: | ​ | $ | 472,179 | ​ | $ | 481,610 | ​ | ​
Amount drawn - U.S. LIBOR rate loan | ​ | $ | 401,500 | ​ | $ | 357,000 | ​ | ​
Interest rate applicable - U.S. LIBOR rate loan | ​ | ​ | 3.50 | % | ​ | 3.62 | % | ​
Amount drawn – Canadian bankers’ acceptance | ​ | $ | 70,679 | ​ | $ | 124,610 | ​ | ​
Interest rate applicable – Canadian bankers’ acceptance | ​ |  | 3.06 | % |  | 3.40 | % | ​
Commitment – rate applicable | ​ |  | 0.12 | % |  | 0.12 | % | ​
Term loan under Credit Agreement | ​ |  | ​ | ​ |  |  | ​ | ​
Amount drawn – U.S. based LIBOR loan | ​ | $ | 700,000 | ​ | $ | 1,237,500 | ​ | ​
Interest rate applicable – U.S. based LIBOR loan | ​ |  | 3.50 | % |  | 3.62 | % | ​
​ Tax Exempt Bonds In January 2019, the Company gave notice to redeem its LeMay Washington Bond with a remaining principal balance of $15,930. The Company paid in full the principal and accrued interest on this bond on March 6, 2019.

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