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LONG-TERM DEBT AND LINES OF CREDIT (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt | As of December 31, 2021 and 2020, long-term debt consisted of the following:
| December 31, 2021 |  | December 31, 2020
| (in thousands)
Long-term Debt |  |  |
3.800% senior notes due April 1, 2021 | $ | — |  |  | $ | 752,199 |
3.750% senior notes due June 1, 2023 | 557,186 |  |  | 562,258 |
4.000% senior notes due June 1, 2023 | 559,338 |  |  | 565,930 |
1.500% senior notes due November 15, 2024 | 497,185 |  |  | — |
2.650% senior notes due February 15, 2025 | 994,797 |  |  | 993,110 |
1.200% senior notes due March 1, 2026 | 1,092,016 |  |  | — |
4.800% senior notes due April 1, 2026 | 798,024 |  |  | 809,324 |
2.150% senior notes due January 15, 2027 | 743,695 |  |  | — |
4.450% senior notes due June 1, 2028 | 478,194 |  |  | 482,588 |
3.200% senior notes due August 15, 2029 | 1,238,006 |  |  | 1,236,424 |
2.900% senior notes due May 15, 2030 | 990,196 |  |  | 989,025 |
2.900% senior notes due November 15, 2031 | 741,716 |  |  | — |
4.150% senior notes due August 15, 2049 | 740,146 |  |  | 739,789 |
Unsecured term loan facility | 1,989,793 |  |  | 1,985,776 |
Unsecured revolving credit facility | — |  |  | 36,000 |
Finance lease liabilities | 64,421 |  |  | 75,989 |
Other borrowings | 8,601 |  |  | 65,352 |
Total long-term debt | 11,493,314 |  |  | 9,293,764 |
Less current portion | 78,505 |  |  | 827,357 |
Long-term debt, excluding current portion | $ | 11,414,809 |  |  | $ | 8,466,407 |
Schedule of Maturities of Long-Term Debt | At December 31, 2021, future maturities of long-term debt (excluding finance lease liabilities) are as follows by year (in thousands):
Year ending December 31, |
2022 | $ | 58,600 |
2023 | 1,300,000 |
2024 | 2,250,000 |
2025 | 1,000,000 |
2026 | 1,850,000 |
2027 and thereafter | 4,950,000 |
Total | $ | 11,408,600 |
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. The fair values of our interest rate swaps were determined based on the present value of the estimated future net cash flows using implied rates in the applicable yield curve as of December 31, 2021 and classified within Level 2 of the valuation hierarchy.
|  |  |  | Weighted-Average Fixed Rate of Interest at |  | Range of Maturity Dates at |  | Fair Value
Derivative Financial Instruments |  | Balance Sheet Location |  | December 31, 2021 |  | December 31, 2021 |  | December 31, 2021 |  | December 31, 2020
|  |  |  |  |  |  |  | (in thousands)
Interest rate swaps (Notional of $1,250.0 million at December 31, 2021 and $300.0 million at December 31, 2020) |  | Accounts payable & accrued liabilities |  | 2.73% |  | December 31, 2022 |  | $ | 28,777 |  |  | $ | 1,330 |
Interest rate swaps (Notional of $1,250 million at December 31, 2020) |  | Other noncurrent liabilities |  | N/A |  | N/A |  | $ | — |  |  | $ | 65,490 |
Schedule of Effects of Derivatives on Consolidated Statements of Income and Comprehensive Income | The table below presents the effects of our interest rate swaps on the consolidated statements of income and statements of comprehensive income for the years ended December 31, 2021, 2020 and 2019:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
| (in thousands)
Net unrealized gains (losses) recognized in other comprehensive loss | $ | 3,425 |  |  | $ | (52,742) |  |  | $ | (90,238) |
Net unrealized losses reclassified out of other comprehensive loss to interest expense | $ | 40,094 |  |  | $ | 36,510 |  |  | $ | 2,257 |

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