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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2021

Long-Term Debt [Abstract]

Carrying Values and Fair Values of Debt Outstanding

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.

Borrowings and Payments Under the Bank Credit Facilities

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

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- References

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

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