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LONG-TERM DEBT AND LINES OF CREDIT (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | As of September 30, 2021 and December 31, 2020, long-term debt consisted of the following:
| September 30, 2021 |  | December 31, 2020
| (in thousands)
3.800% senior notes due April 1, 2021 | $ | — |  |  | $ | 752,199 |
3.750% senior notes due June 1, 2023 | 558,454 |  |  | 562,258 |
4.000% senior notes due June 1, 2023 | 560,986 |  |  | 565,930 |
2.650% senior notes due February 15, 2025 | 994,375 |  |  | 993,110 |
1.200% senior notes due March 1, 2026 | 1,091,536 |  |  | — |
4.800% senior notes due April 1, 2026 | 800,849 |  |  | 809,324 |
4.450% senior notes due June 1, 2028 | 479,293 |  |  | 482,588 |
3.200% senior notes due August 15, 2029 | 1,237,611 |  |  | 1,236,424 |
2.900% senior notes due May 15, 2030 | 989,903 |  |  | 989,025 |
4.150% senior notes due August 15, 2049 | 740,056 |  |  | 739,789 |
Unsecured term loan facility | 1,988,789 |  |  | 1,985,776 |
Unsecured revolving credit facility | 1,222,000 |  |  | 36,000 |
Finance lease liabilities | 64,081 |  |  | 75,989 |
Other borrowings | 21,006 |  |  | 65,352 |
Total long-term debt | 10,748,939 |  |  | 9,293,764 |
Less current portion | 39,148 |  |  | 827,357 |
Long-term debt, excluding current portion | $ | 10,709,791 |  |  | $ | 8,466,407 |
Schedule of Maturities of Long-Term Debt | At September 30, 2021, future maturities of long-term debt (excluding finance lease liabilities) are as follows by year (in thousands):
Year Ending December 31, |
2021 | $ | 12,602 |
2022 | 58,403 |
2023 | 1,300,000 |
2024 | 2,972,000 |
2025 | 1,000,000 |
2026 | 1,850,000 |
2027 and thereafter | 3,450,000 |
Total | $ | 10,643,005 |
Schedule of Derivative Instruments | The table below presents information about our derivative financial instruments, designated as cash flow hedges, included in the consolidated balance sheets:
|  |  |  |  |  |  |  | Fair Values
Derivative Financial Instruments |  | Balance Sheet Location |  | Weighted-Average Fixed Rate of Interest at September 30, 2021 |  | Range of Maturity Dates at September 30, 2021 |  | September 30, 2021 |  | December 31, 2020
|  |  |  |  |  |  |  | (in thousands)
Interest rate swaps (Notional of $300 million at December 31, 2020) |  | Accounts payable and accrued liabilities |  | NA |  | NA |  | $ | — |  |  | $ | 1,330 |
Interest rate swaps (Notional of $1,250 million at September 30, 2021 and December 31, 2020) |  | Other noncurrent liabilities |  | 2.73% |  | December 31, 2022 |  | $ | 40,701 |  |  | $ | 65,490 |
NA = not applicable.
Schedule of Derivative Instrument Effect on Other Comprehensive Income (Loss) | The table below presents the effects of our interest rate swaps on the consolidated statements of income and statements of comprehensive income for the three and nine months ended September 30, 2021 and 2020:
| Three Months Ended |  | Nine Months Ended
| September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
| (in thousands)
Net unrealized (losses) gains recognized in other comprehensive income (loss) | $ | (646) |  |  | $ | 194 |  |  | $ | (62) |  |  | $ | (53,332) |
Net unrealized losses reclassified out of other comprehensive income (loss) to interest expense | $ | 9,788 |  |  | $ | 11,133 |  |  | $ | 30,288 |  |  | $ | 25,786 |

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