XML 59 R43.htm IDEA: XBRL DOCUMENT v3.20.4
Debt - Narrative (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Oct. 31, 2019
USD ($)
Sep. 30, 2019
Dec. 31, 2018
USD ($)
Jul. 31, 2016
USD ($)
Dec. 31, 2020
USD ($)
item
Dec. 31, 2018
USD ($)
Aug. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
May 31, 2019
Mar. 31, 2019
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Aug. 31, 2016
USD ($)
May 31, 2015
USD ($)
Nov. 18, 2014
USD ($)
Debt Instrument [Line Items]                              
Long-term Debt, Total         $ 1,225,188                    
Long-term Debt, Gross         1,225,434                    
Long-term Line of Credit         92,000     $ 89,000              
Maximum [Member]                              
Debt Instrument [Line Items]                              
Reimbursement Agreement, Amount                             $ 14,000
Revolving Credit Facility [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         92,000                    
2030 Senior Unsecured Public Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         350,000                    
Mortgages [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Total         33,122     36,698              
Long-term Debt, Gross         33,434     $ 37,115              
Debt Instrument, Collateral Amount         $ 40,000                    
Long-term Debt, Weighted Average Interest Rate         4.21%     4.40%              
Unsecured Debt [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Total         $ 237,849     $ 237,403              
Long-term Debt, Gross         $ 240,000     240,000              
Unsecured Debt [Member] | 2025 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.16%                    
Unsecured Debt [Member] | 2027 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.26%                    
Debt Instrument, Face Amount                           $ 50,000  
Unsecured Debt [Member] | 2028 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.42%                    
Unsecured Debt [Member] | 2029 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.19%                    
Unsecured Debt [Member] | 2030 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount                     $ 125,000        
Unsecured Debt [Member] | 2031 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.47%                    
Debt Instrument, Face Amount $ 125,000                            
Unsecured Debt [Member] | 2019 Term Loan [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Effective Percentage                 3.62%            
Debt Instrument, Face Amount                         $ 20,300    
Unsecured Debt [Member] | 2023 Term Loan [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         $ 40,000     40,000              
Debt Instrument, Description of Variable Rate Basis         Borrowings under the 2023 Term Loan are priced at LIBOR plus 85 to 165 basis points, depending on the Company’s credit rating. The Company entered into an interest rate swap agreement to fix LIBOR at 140 basis points until maturity                    
Debt Instrument, Interest Rate, Effective Percentage         2.40%                    
Debt Instrument, Face Amount       $ 40,000                      
Unsecured Debt [Member] | 2023 Term Loan [Member] | Interest rate swap | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Derivative Instrument Basis Fixed Rate       1.40%                      
Unsecured Debt [Member] | 2023 Term Loan [Member] | Minimum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate       0.85%                      
Unsecured Debt [Member] | 2023 Term Loan [Member] | Maximum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate       1.65%                      
Unsecured Debt [Member] | 2024 Term Loan Facilities[Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         $ 100,000     100,000              
Debt Instrument, Interest Rate, Effective Percentage         3.13%                    
Unsecured Debt [Member] | 2024 Term Loan Facilities[Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Derivative Instrument Basis Fixed Rate 1.43% 2.13%                          
Unsecured Debt [Member] | 2024 Term Loan Facilities[Member] | Minimum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         0.85%                    
Unsecured Debt [Member] | 2024 Term Loan Facilities[Member] | Maximum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         1.65%                    
Unsecured Debt [Member] | 2024 Term Loan Facility One [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Description of Variable Rate Basis         Borrowings under the unsecured 2024 Term Loan Facilities bear interest at a variable LIBOR plus 85 to 165 basis points, depending on the Company’s credit rating. The Company utilized existing interest rate swap agreements to effectively fix LIBOR at 213 basis points until September 2020 for the $35 Million Term Loan and July 2021 for the $65 Million Term Loan.  Additional interest rate swap agreements were entered into to fix LIBOR at 143 basis points until maturity (refer to Note 9 – Derivative Instruments and Hedging Activity).                     
Debt Instrument, Face Amount               65,000              
Unsecured Debt [Member] | 2024 Term Loan Facility Two [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount               35,000              
Unsecured Debt [Member] | 2026 Term Loan [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         $ 100,000     100,000              
Debt Instrument, Description of Variable Rate Basis           Borrowings under the 2026 Term Loan are priced at LIBOR plus 145 to 240 basis points, depending on the Company’s credit rating. The Company entered into interest rate swap agreements to fix LIBOR at 266 basis points until maturity                  
Debt Instrument, Interest Rate, Effective Percentage         4.26%                    
Debt Instrument, Face Amount     $ 100,000     $ 100,000                  
Unsecured Debt [Member] | 2026 Term Loan [Member] | Interest rate swap | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Derivative, spread on variable rate     2.66%     2.66%                  
Unsecured Debt [Member] | 2026 Term Loan [Member] | Minimum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate     1.45%                        
Unsecured Debt [Member] | 2026 Term Loan [Member] | Maximum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate     2.40%                        
Senior Unsecured Debt [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Total         $ 855,328     509,198              
Long-term Debt, Gross         860,000     510,000              
Debt Instrument, Face Amount                           100,000  
Senior Unsecured Debt [Member] | Revolving Credit Facility [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount               500,000              
Senior Unsecured Debt [Member] | 2025 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         50,000     50,000              
Debt Instrument, Face Amount                           $ 50,000  
Senior Unsecured Debt [Member] | 2027 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         50,000     50,000              
Senior Unsecured Debt [Member] | 2028 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         60,000     60,000              
Debt Instrument, Face Amount       $ 60,000                      
Senior Unsecured Debt [Member] | 2029 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         100,000     100,000              
Debt Instrument, Face Amount                       $ 100,000      
Senior Unsecured Debt [Member] | 2030 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         $ 125,000     125,000              
Debt Instrument, Interest Rate, Stated Percentage         4.32%                    
Senior Unsecured Debt [Member] | 2030 Senior Unsecured Public Notes [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage             2.90%                
Debt Instrument, Face Amount             $ 350,000                
Senior Unsecured Debt [Member] | 2030 Senior Unsecured Public Notes [Member] | Interest rate swap                              
Debt Instrument [Line Items]                              
Derivative Notional Amount, Terminated             $ 200,000                
Senior Unsecured Debt [Member] | 2030 Senior Unsecured Public Notes [Member] | Blended All-In Including Interest Rate Swap [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Effective Percentage             3.49%                
Debt Instrument, Face Amount             $ 350,000                
Senior Unsecured Debt [Member] | 2031 Senior Unsecured Notes [Member]                              
Debt Instrument [Line Items]                              
Long-term Debt, Gross         $ 125,000     125,000              
Senior Unsecured Debt [Member] | 2031 Senior Unsecured Notes [Member] | Interest rate swap                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Stated Percentage         4.41%                    
Debt Instrument, Face Amount         $ 100,000         $ 100,000          
Senior Unsecured Debt [Member] | 2031 Senior Unsecured Notes [Member] | Blended All-In Including Interest Rate Swap [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Interest Rate, Effective Percentage         4.42%                    
Debt Instrument, Face Amount         $ 125,000                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member]                              
Debt Instrument [Line Items]                              
Line of Credit Facility, Maximum Borrowing Capacity               600,000              
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Description of Variable Rate Basis         (i) LIBOR plus a margin that is based upon the Company’s credit rating, or (ii) the Base Rate (which is defined as the greater of the rate of interest as publicly announced from time to time by PNC Bank, National Association, as its prime rate, the Federal Funds Open Rate plus 0.50%, or the Daily Eurodollar Rate plus 1.0%) plus a margin that is based upon the Company’s credit rating. The margins for the Revolving Credit Facility range in amount from 0.775% to 1.450% for LIBOR-based loans and 0.00% to 0.45% for Base Rate loans, depending on the Company’s credit rating. The margins for the Revolving Credit Facility are subject to improvement based on the Company’s leverage ratio, provided its credit rating meets a certain threshold.                    
Line of Credit Facility, Maximum Borrowing Capacity, Additional Commitments Available         $ 500,000                    
Credit facility extension times | item         2                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         0.50%                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         1.00%                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         0.775%                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         0.00%                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member] | LIBOR [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         1.45%                    
Senior Unsecured Debt [Member] | Revolving Credit and Term Loan Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]                              
Debt Instrument [Line Items]                              
Spread on variable rate         0.45%                    
Senior Unsecured Debt [Member] | 2024 Term Loan Facility One [Member] | Revolving Credit Facility [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount               65,000              
Long-term Line of Credit         $ 92,000                    
Senior Unsecured Debt [Member] | 2024 Term Loan Facility Two [Member] | Revolving Credit Facility [Member]                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount               $ 35,000