XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.21.2

Long-Term Debt | 6 Months Ended
--- | ---
Jun. 30, 2021
Debt Disclosure [Abstract] |
Long-term Debt | Long-Term Debt: Long-term debt at June 30, 2021 and December 31, 2020 consisted of the following (in thousands):
| June 30, |  | December 31,
| 2021 |  | 2020
1.125% notes due 2025 | $ | 450,103 |  |  | $ | 610,800 |
1.625% notes due 2028 | 596,750 |  |  | 610,800 |
1.875% Senior notes due 2021 | — |  |  | 480,007 |
3.45% Senior notes due 2029 | 171,612 |  |  | 300,000 |
4.15% Senior notes due 2024 | 425,000 |  |  | 425,000 |
5.45% Senior notes due 2044 | 350,000 |  |  | 350,000 |
Floating rate notes | — |  |  | 200,000 |
Credit facilities | — |  |  | 223,900 |
Commercial paper notes | — |  |  | 325,000 |
Variable-rate foreign bank loans | 7,222 |  |  | 7,702 |
Finance lease obligations | 58,792 |  |  | 59,181 |
Unamortized discount and debt issuance costs | (15,062) |  |  | (20,332) |
Total long-term debt | 2,044,417 |  |  | 3,572,058 |
Less amounts due within one year | 623 |  |  | 804,677 |
Long-term debt, less current portion | $ | 2,043,794 |  |  | $ | 2,767,381 |
In the first quarter of 2021, the Company made the following debt principal payments using proceeds from the February 2021 underwritten public offering of common stock: •€123.8 million of the 1.125% notes due in November 2025 •€393.0 million, the remaining balance, of the 1.875% Senior notes originally due in December 2021 •$128.4 million of the 3.45% Senior notes due in November 2029 •$200.0 million, the remaining balance, of the floating rate notes originally due in November 2022 •€183.3 million, the outstanding balance, of the unsecured credit facility originally entered into on August 14, 2019, as amended and restated on December 15, 2020 •$325.0 million, the outstanding balance, of the commercial paper notes As a result, included in Interest and financing expenses for the three-month and six-month period ended June 30, 2021 is a loss on early extinguishment of debt of $1.2 million and $29.0 million, respectively, representing the tender premiums, fees, unamortized discounts and unamortized deferred financing costs from the redemption of this debt. Prior to repayment in the first quarter of 2021, the carrying value of our 1.875% Euro-denominated senior notes was 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 were recorded in accumulated other comprehensive loss. Upon repayment of these notes, this net investment hedge was discontinued. The balance of foreign exchange revaluation gains and losses associated with this discontinued net investment hedge will remain within accumulated other comprehensive loss until the hedged net investment is sold or liquidated. Prior to the net investment hedge being discontinued, we recorded a gain of $5.1 million (net of income taxes) in 2021, and during the three-month and six-month periods ended June 30, 2020 we recorded losses of $5.8 million and $3.7 million (net of income taxes), respectively in accumulated other comprehensive loss.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration