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Long-Term Debt | 9 Months Ended
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Sep. 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):
|  | September 30, 2021 |  |  | December 31, 2020 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Revolving Credit Facility due March 27, 2024 (a) |  | $ | — |  |  | $ | — |  |  | $ | 250,000 |  |  | $ | 250,000 |
Term Loan due March 27, 2024 (a) |  |  | 360,000 |  |  |  | 360,000 |  |  |  | 375,000 |  |  |  | 375,000 |
3.29% senior notes due February 27, 2023 |  |  | 350,000 |  |  |  | 357,848 |  |  |  | 350,000 |  |  |  | 364,538 |
4.2% senior notes due March 1, 2028 |  |  | 500,000 |  |  |  | 548,893 |  |  |  | 500,000 |  |  |  | 581,115 |
Credit line due June 30, 2022 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank notes payable |  |  | 1,983 |  |  |  | 1,983 |  |  |  | 40 |  |  |  | 40 |
|  |  | 1,211,983 |  |  |  | 1,268,724 |  |  |  | 1,475,040 |  |  |  | 1,570,693 |
Unamortized debt discounts and issuance costs (b) |  |  | (3,807 | ) |  |  | — |  |  |  | (6,454 | ) |  |  | — |
|  | $ | 1,208,176 |  |  | $ | 1,268,724 |  |  | $ | 1,468,586 |  |  | $ | 1,570,693 |
(a) Variable interest rate of 1.5% at both September 30, 2021 and December 31, 2020. (b) Excludes $1,559,000 attributable to the Revolving Credit Facility included in other assets at September 30, 2021. The following table presents borrowings and payments under the bank credit facilities (in thousands):
|  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |
Borrowings on bank credit facilities |  | $ | 4,795 |  |  | $ | 582,212 |
Payments on bank credit facilities |  |  | (252,852 | ) |  |  | (222,073 | )
|  | $ | (248,057 | ) |  | $ | 360,139 |
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 due on March 27, 2024 and is prepayable, in whole or in part, without penalty. During the nine months ended September 30, 2021, the Company repaid $15,000,000 under the Term Loa n. During October 2021, the Company repaid $20,000,000 under the Term Loan. Outstanding letters of credit under the Revolv ing Credit Facility were $5,063,000 and available borrowing capacity was $844,937,000 as of September 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 September 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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