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Long-Term Debt | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Long-term Debt | Long-Term Debt: Long-term debt at September 30, 2019 and December 31, 2018 consisted of the following (in thousands):
| September 30, |  | December 31,
| 2019 |  | 2018
1.875% Senior notes, net of unamortized discount and debt issuance costs of $2,040 at September 30, 2019 and $2,841 at December 31, 2018 | $ | 427,941 |  |  | $ | 444,155 |
4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,519 at September 30, 2019 and $2,884 at December 31, 2018 | 422,481 |  |  | 422,116 |
4.50% Senior notes, net of unamortized discount and debt issuance costs of $364 at September 30, 2019 and $589 at December 31, 2018 | 174,852 |  |  | 174,626 |
5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,889 at September 30, 2019 and $4,004 at December 31, 2018 | 346,112 |  |  | 345,996 |
Commercial paper notes | 539,300 |  |  | 306,606 |
Variable-rate foreign bank loans | 7,424 |  |  | 7,216 |
Finance lease obligations | 3,834 |  |  | 4,495 |
Total long-term debt | 1,921,944 |  |  | 1,705,210 |
Less amounts due within one year | 539,960 |  |  | 307,294 |
Long-term debt, less current portion | $ | 1,381,984 |  |  | $ | 1,397,916 |
Current portion of long-term debt at September 30, 2019 consisted primarily of commercial paper notes with a weighted-average interest rate of approximately 2.28% and a weighted-average maturity of 31 days. The carrying value of our 1.875% Euro-denominated senior notes has been designated as an effective hedge of our net investment in certain foreign subsidiaries where the Euro serves as the functional currency, and gains or losses on the revaluation of these senior notes to our reporting currency are recorded in accumulated other comprehensive loss. During the three-month and nine-month periods ended September 30, 2019, gains of $12.7 million and $13.0 million (net of income taxes), respectively, and during the three-month and nine-month periods ended September 30, 2018, (losses) gains of ($3.6) million and $4.9 million (net of income taxes), respectively, were recorded in accumulated other comprehensive loss in connection with the revaluation of these senior notes to our reporting currency. On August 14, 2019, the Company entered into a $1.2 billion unsecured credit facility (the “2019 Credit Facility”) with several banks and other financial institutions. The lenders’ commitment to provide loans under the 2019 Credit Facility terminates on August 11, 2020, with each such loan maturing one year after the funding of such loan. The Company can request that the maturity date of loans be extended for an additional period of up to four additional years, but any such extension is subject to the approval of the lenders. Borrowings under the 2019 Credit Facility bear interest at variable rates based on an average London inter-bank offered rate (“LIBOR”) for deposits in the relevant currency plus an applicable margin which ranges from 0.875% to 1.625%, depending on the Company’s credit rating from Standard & Poor’s Financial Services LLC, Moody’s Investor Services, Inc. and Fitch Ratings, Inc. As of the closing of the 2019 Credit Facility, the applicable margin over LIBOR was 1.125%. There were no borrowings outstanding under the 2019 Credit Facility as of September 30, 2019. In October 2019, we borrowed $1.0 billion under this credit facility to fund the cash portion of the October 31, 2019 acquisition of a 60% interest in Mineral Resources Limited’s (“MRL”) Wodgina hard rock lithium mine project (“Wodgina Project”) and for general corporate purposes. See Note 18, “Subsequent Events,” for further details of the acquisition. In addition, on August 14, 2019, the Company entered into an amendment to its existing credit agreement, dated as of June 21, 2018 to (a) extend the maturity date to August 9, 2024 (subject to the Company’s right to request that such maturity date be further extended for an additional one-year period), and (b) conform certain representations, warranties and covenants to those under the 2019 Credit Facility.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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