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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Long-Term Debt [Abstract]

Long-Term Debt

The following table presents the Company’s long-term debt as of September 30, 2019 and December 31, 2018:

​

​	​	​	​	​	​	​	​
​	​	September 30,		​	December 31,		​
​		2019			2018
Revolver under Credit Agreement, bearing interest ranging from 3.05% to 3.14% (a)	​	$	427,806	​	$	481,610	​
Term loan under Credit Agreement, bearing interest at 3.14% (a)	​		700,000	​		1,237,500	​
5.25% Senior Notes due 2019 (b)	​		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)	​		9,705	​		14,653	​
​	​		4,062,511	​		4,174,693	​
Less – current portion	​		(502)	​		(1,786)	​
Less – debt issuance costs	​		(22,604)	​		(19,442)	​
​	​	$	4,039,405	​	$	4,153,465	​

____________________

(a) Interest rates represent the interest rates incurred at September 30, 2019.

(b) The Company has recorded the 2019 Senior Notes in long-term in the table above as the Company has the intent and ability to redeem the 2019 Senior Notes on November 1, 2019 using borrowings under the Credit Agreement.

​

Details of the Company's Credit Agreement

Details of the Credit Agreement are as follows:

​

​	​	​	​	​	​	​	​	​
​	​	September 30,		​	December 31,			​
​		2019			2018
Revolver under Credit Agreement		​			​		​
Available	​	$	1,012,786	​	$	955,779	​	​
Letters of credit outstanding	​	$	121,908	​	$	125,111	​	​
Total amount drawn, as follows:	​	$	427,806	​	$	481,610	​	​
Amount drawn - U.S. LIBOR rate loan	​	$	382,500	​	$	357,000	​	​
Interest rate applicable - U.S. LIBOR rate loan	​	​	3.14	%	​	3.62	%	​
Amount drawn – Canadian bankers’ acceptance	​	$	45,306	​	$	124,610	​	​
Interest rate applicable – Canadian bankers’ acceptance	​		3.05	%		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	​		3.14	%		3.62	%	​

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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