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Debt (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt [Abstract] |
Long-Term Debt | Long-term debt consisted of the following unsecured obligations at December 31:
(In thousands) |  | 2021 |  |  | 2020 |
3.66% senior notes due November 2023 |  | $ | 75,000 |  |  | $ | 75,000 |
3.65% senior notes due May 2024 |  |  | 27,000 |  |  |  | 27,000 |
4.19% senior notes due November 2025 |  |  | 25,000 |  |  |  | 25,000 |
1.85% Euro-denominated senior notes due November 2022 |  |  | 76,017 |  |  |  | 81,672 |
3.06% Euro-denominated senior notes due November 2023 |  |  | 43,487 |  |  |  | 46,722 |
1.27% Euro-denominated senior notes due May 2024 |  |  | 56,850 |  |  |  | 61,080 |
1.71% Euro-denominated senior notes due May 2027 |  |  | 45,480 |  |  |  | 48,864 |
2.53% British Pound-denominated notes due November 2023 |  |  | 33,829 |  |  |  | 34,176 |
2.76% British Pound-denominated notes due November 2025 |  |  | 33,829 |  |  |  | 34,176 |
Term loan |  |  | - |  |  |  | 8,375 |
Revolving Credit Facilities |  |  | 86,000 |  |  |  | 83,324 |
Various other notes |  |  | 1,137 |  |  |  | 1,647 |
Total debt |  |  | 503,629 |  |  |  | 527,036 |
Less debt fees |  |  | (136 | ) |  |  | (143 | )
Less current portion |  |  | (487 | ) |  |  | (8,889 | )
Total long-term debt |  | $ | 503,006 |  |  | $ | 518,004 |
Contractual Maturities on Long-Term Debt | The aggregate amounts of contractual maturities on long-term debt subsequent to December 31, 2021, are as follows:
(In thousands) |  |  |
Year ending December 31, |  |  |
2022 |  | $ | 106,504 |
2023 |  |  | 152,834 |
2024 |  |  | 83,981 |
2025 |  |  | 58,830 |
2026 |  |  | 56,000 |
Thereafter |  |  | 45,480 |
Total long-term debt maturities |  | $ | 503,629 |
Restrictive Loan Covenants | Substantially all of the senior financing obligations contain restrictions concerning interest coverage, borrowings, and investments. The Company is in compliance with all of these restrictions at December 31, 2021. The following table summarizes the Company’s most restrictive loan covenants calculated in accordance with the applicable agreements as of December 31, 2021:
| Actual |  | Required
Debt to EBITDA(1) (Maximum) | 2.04 |  | <3.50
Interest Coverage (Minimum) | 21.60 |  | >3.00
| (1) | Debt to EBITDA is defined in the Company’s debt covenants as total funded debt divided by the Company’s consolidated operating income excluding non-operating gains and losses and depreciation and amortization.
Short-Term Borrowings | The Company’s short-term borrowings consisted of the following items at December 31:
(In thousands) |  | 2021 |  |  | 2020 |
U.S. credit facilities |  | $ | 7,284 |  |  | $ | 138 |
Current maturities of long-term debt |  |  | 487 |  |  |  | 8,889 |
Loans of foreign subsidiaries |  |  | 768 |  |  |  | 220 |
Total |  | $ | 8,539 |  |  | $ | 9,247 |

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