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Debt (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Components of Debt | Debt consists of the following:
| June 30, 2023 |  | December 31, 2022
| (in thousands)
$450 million senior unsecured notes due 2031 ("2020 Senior Notes") with an effective interest rate of 3.86%, less a discount and deferred issuance costs of $4.6 million and $4.9 million at June 30, 2023 and December 31, 2022, respectively | $ | 445,385 |  |  | $ | 445,080 |
$400 million senior unsecured notes due 2029 ("2019 Senior Notes") with an effective interest rate of 3.88%, less a discount and deferred issuance costs of $3.9 million and $4.2 million at June 30, 2023 and December 31, 2022, respectively | 396,139 |  |  | 395,838 |
$850 million senior unsecured revolving credit facility with an effective interest rate of 6.27% less deferred issuance costs of $2.2 million and $1.8 million at June 30, 2023 and December 31, 2022, respectively (1) | 542,769 |  |  | 358,189 |
Economic development loans with an effective interest rate of 3.00% at June 30, 2023 and December 31, 2022, respectively | 4,416 |  |  | 4,416 |
Total debt | $ | 1,388,709 |  |  | $ | 1,203,523 |
Less current portion | 4,416 |  |  | 2,976 |
Long-term debt | $ | 1,384,293 |  |  | $ | 1,200,547 |
(1) On February 14, 2023, the Company entered into a Third Amendment to the Amended and Restated Senior Unsecured Credit Agreement (the "Amendment"). The Amendment provides, among other things, for (i) an increase in the aggregate amount of commitments under the Company's existing $600 million unsecured credit facility (the "Revolver") by $250 million (the “Increased Commitments”) to an aggregate amount of $850 million and (ii) the replacement of the interest reference rate for U.S. dollar-denominated borrowings under the Revolver from LIBOR to an adjusted Secured Overnight Financing Rate. The pricing and other terms applicable to the Increased Commitments are the same as those applicable to the existing revolving loan commitments that were in effect prior to the Amendment. Except as amended by the Amendment, the remaining terms of the unsecured credit facility remain in full force and effect.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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