XML 27 R18.htm IDEA: XBRL DOCUMENT v3.22.1
Senior Notes
 3 Months Ended
Mar. 31, 2022
Senior Notes [Abstract]  
Senior Notes

11. SENIOR NOTES

 

The table below displays Everest Reinsurance Holdings’ (“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.

 

 

 

 

 

 

 

 

March 31, 2022

 

December 31, 2021

 

 

 

 

 

 

 

 

Consolidated Balance

 

 

 

 

Consolidated Balance

 

 

 

(Dollars in thousands)

Date Issued

 

Date Due

 

Principal Amounts

 

Sheet Amount

 

Market Value

 

Sheet Amount

 

Market Value

4.868% Senior notes

6/5/2014

 

6/1/2044

 

$

400,000

 

$

397,343

 

$

437,148

 

$

397,314

 

$

503,840

3.5% Senior notes

10/7/2020

 

10/15/2050

 

 

1,000,000

 

 

980,178

 

 

895,420

 

 

980,046

 

 

1,054,520

3.125% Senior notes

10/4/2021

 

10/15/2052

 

 

1,000,000

 

 

968,626

 

 

832,780

 

 

968,440

 

 

983,140

 

 

 

 

 

$

2,400,000

 

$

2,346,147

 

$

2,165,348

 

$

2,345,800

 

$

2,541,500

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

 

Three Months Ended

 

March 31,

(Dollars In thousands

2022

 

2021

Interest expense incurred 4.868% Senior notes

$

4,868

 

$

4,868

Interest expense incurred 3.5% Senior notes

 

8,807

 

 

8,805

Interest expense incurred 3.125% Senior notes

 

7,913

 

 

-

 

$

21,588

 

$

13,673