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LONG-TERM DEBT AND LINES OF CREDIT (Tables)

12 Months Ended

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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