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Long-Term Debt | 6 Months Ended
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Jun. 30, 2021
Long-Term Debt [Abstract] |
Long-Term Debt | (5) Long-Term Debt The following table presents the carrying value and fair value (determined using inputs characteristic of a Level 2 fair value measurement) of debt outstanding (in thousands):
|  | June 30, 2021 |  |  | December 31, 2020 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Revolving Credit Facility (a) |  | $ | 55,000 |  |  | $ | 55,000 |  |  | $ | 250,000 |  |  | $ | 250,000 |
Term Loan (a) |  |  | 375,000 |  |  |  | 375,000 |  |  |  | 375,000 |  |  |  | 375,000 |
3.29% senior notes due February 27, 2023 |  |  | 350,000 |  |  |  | 361,800 |  |  |  | 350,000 |  |  |  | 364,538 |
4.2% senior notes due March 1, 2028 |  |  | 500,000 |  |  |  | 558,551 |  |  |  | 500,000 |  |  |  | 581,115 |
Credit line due June 30, 2022 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank notes payable |  |  | 1,417 |  |  |  | 1,417 |  |  |  | 40 |  |  |  | 40 |
|  |  | 1,281,417 |  |  |  | 1,351,768 |  |  |  | 1,475,040 |  |  |  | 1,570,693 |
Unamortized debt discounts and issuance costs |  |  | (5,738 | ) |  |  | — |  |  |  | (6,454 | ) |  |  | — |
|  | $ | 1,275,679 |  |  | $ | 1,351,768 |  |  | $ | 1,468,586 |  |  | $ | 1,570,693 |
(a) Variable interest rate of 1.5% at both June 30, 2021 and December 31, 2020. The following table presents borrowings and payments under the bank credit facilities (in thousands):
|  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Borrowings on bank credit facilities |  | $ | 2,365 |  |  | $ | 582,038 |
Payments on bank credit facilities |  |  | (195,988 | ) |  |  | (157,047 | )
|  | $ | (193,623 | ) |  | $ | 424,991 |
The Company has an amended and restated credit agreement (the “Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank, allowing for an $850,000,000 unsecured revolving credit facility (“Revolving Credit Facility”) and an unsecured term loan (“Term Loan”) with a maturity date of March 27, 2024. The Term Loan is repayable in quarterly installments currently scheduled to commence September 30, 2023, with $343,750,000 due on March 27, 2024. The Term Loan is prepayable, in whole or in part, without penalty. Outstanding letters of credit under the Revolving Credit Facility were $5,063,000 and available borrowing capacity was $789,937,000 as of June 30, 2021. Outstanding letters of credit under the $10,000,000 credit line were $1,299,000 and available borrowing capacity was $8,701,000 as of June 30, 2021.

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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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