XML 30 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Senior Notes
 12 Months Ended
Dec. 31, 2021
Senior Notes [Abstract]  
Senior Notes

6. SENIOR NOTES

 

The table below displays Holdings’ outstanding senior notes. Market value is based on quoted market prices, but due to limited trading activity, these senior notes are considered Level 2 in the fair value hierarchy.

 

 

 

 

 

 

 

 

December 31, 2021

 

December 31, 2020

 

 

 

 

 

 

Principal

 

Consolidated Balance

 

 

 

 

Consolidated Balance

 

 

 

(Dollars in thousands)

Date Issued

 

Date Due

 

 

Amounts

 

Sheet Amount

 

Market Value

 

Sheet Amount

 

Market Value

4.868% Senior Notes

6/5/2014

 

6/1/2044

 

$

400,000

 

$

397,314

 

$

503,840

 

$

397,194

 

$

528,000

3.5% Senior Notes

10/7/2020

 

10/15/2050

 

 

1,000,000

 

 

980,046

 

 

1,054,520

 

 

979,524

 

 

1,138,100

3.125% Senior Notes

10/4/2021

 

10/15/2052

 

 

1,000,000

 

 

968,440

 

 

983,140

 

 

-

 

 

-

 

 

 

 

 

$

2,400,000

 

$

2,345,800

 

$

2,541,500

 

$

1,376,718

 

$

1,666,100

On October 4, 2021, Holdings issued $1.0 billion of 31 year senior notes with an interest coupon rate of 3.125%, which will mature on October 15, 2052. Interest is paid semi-annually on April 15 and October 15 of each year.

 

Interest expense incurred in connection with these senior notes is as follows for the periods indicated:

 

 

 

 

 

 

Years Ended December 31,

(Dollars in thousands)

 

Interest Paid

 

Payable Dates

 

2021

 

2020

 

2019

4.868% Senior Notes

 

semi-annually

 

June 1/December 1

 

$

19,472

 

$

19,472

 

$

19,472

3.5% Senior Notes

 

semi-annually

 

April 15/October 15

 

 

35,221

 

 

8,115

 

 

-

3.125% Senior Notes

 

semi-annually

 

April 15/October 15

 

 

7,635

 

 

-

 

 

-

 

 

 

 

 

 

$

62,328

 

$

27,587

 

$

19,472