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Long-Term Debt

6 Months Ended

Jun. 30, 2023

10.LONG-TERM DEBT

The following table presents the Company’s long-term debt at June 30, 2023 and December 31, 2022:


	June 30,		December 31,
	2023		2022
Revolver under Credit Agreement, bearing interest ranging from 5.98% to 6.26% ^(a)	$	409,943	$	614,705
Term loan under Credit Agreement, bearing interest at 6.14% ^(a)		650,000		650,000
Term loan under Term Loan Agreement, bearing interest at 6.26% ^(a)		800,000		800,000
4.25% Senior Notes due 2028		500,000		500,000
3.50% Senior Notes due 2029		500,000		500,000
2.60% Senior Notes due 2030		600,000		600,000
2.20% Senior Notes due 2032		650,000		650,000
3.20% Senior Notes due 2032		500,000		500,000
4.20% Senior Notes due 2033		750,000		750,000
3.05% Senior Notes due 2050		500,000		500,000
2.95% Senior Notes due 2052		850,000		850,000
Notes payable to sellers and other third parties, bearing interest ranging from 2.42% to 10.35%, principal and interest payments due periodically with due dates ranging from 2024 to 2036 ^(a)		35,283		37,232
Finance leases, bearing interest ranging from 1.89% to 2.16%, with lease expiration dates ranging from 2026 to 2028 ^(a)		10,514		11,464
		6,755,740		6,963,401
Less – current portion		(10,699)		(6,759)
Less – unamortized debt discount and issuance costs		(63,657)		(66,493)
Long-term portion of debt and notes payable	$	6,681,384	$	6,890,149

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(a)	Interest rates represent the interest rates at June 30, 2023.

Credit Agreement

Details of the Credit Agreement are as follows:


	June 30,			December 31,
	2023			2022
Revolver under Credit Agreement
Available	$	1,400,619		$	1,193,502
Letters of credit outstanding	$	39,438		$	41,793
Total amount drawn, as follows:	$	409,943		$	614,705
Amount drawn – U.S. Term SOFR rate loan	$	150,000		$	391,000
Interest rate applicable – U.S. Term SOFR rate loan		6.14	%		5.42	%
Amount drawn – U.S. Term SOFR rate loan	$	50,000		$	—
Interest rate applicable – U.S. Term SOFR rate loan		6.26	%		—	%
Amount drawn – U.S. Term SOFR rate loan	$	40,000		$	—
Interest rate applicable – U.S. Term SOFR rate loan		6.20	%		—	%
Amount drawn – Canadian bankers’ acceptance	$	169,943		$	223,705
Interest rate applicable – Canadian bankers’ acceptance		5.98	%		5.74	%
Commitment – rate applicable		0.09	%		0.09	%
Term loan under Credit Agreement
Amount drawn – U.S. Term SOFR rate loan	$	650,000		$	650,000
Interest rate applicable – U.S. Term SOFR rate loan		6.14	%		5.42	%

In addition to the $39,438 of letters of credit at June 30, 2023 issued and outstanding under the Credit Agreement, the Company has issued and outstanding letters of credit totaling $85,259 under facilities other than the Credit Agreement.