XML 33 R24.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Long-Term Debt (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Debt Disclosure [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, 2022 |  |  | December 31, 2021 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Revolving Credit Facility due July 29, 2027 (a) |  | $ | 20,000 |  |  | $ | 20,000 |  |  | $ | — |  |  | $ | — |
Term Loan due July 29, 2027 (a) |  |  | 250,000 |  |  |  | 250,000 |  |  |  | — |  |  |  | — |
Term Loan due March 27, 2024 (b) |  |  | — |  |  |  | — |  |  |  | 315,000 |  |  |  | 315,000 |
3.29% senior notes due February 27, 2023 |  |  | 350,000 |  |  |  | 348,431 |  |  |  | 350,000 |  |  |  | 358,390 |
4.2% senior notes due March 1, 2028 |  |  | 500,000 |  |  |  | 470,370 |  |  |  | 500,000 |  |  |  | 549,239 |
Credit line due June 30, 2024 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank notes payable |  |  | 3,599 |  |  |  | 3,599 |  |  |  | 1,934 |  |  |  | 1,934 |
|  |  | 1,123,599 |  |  |  | 1,092,400 |  |  |  | 1,166,934 |  |  |  | 1,224,563 |
Unamortized debt discounts and issuance costs (c) |  |  | (5,140 | ) |  |  | — |  |  |  | (3,567 | ) |  |  | — |
|  | $ | 1,118,459 |  |  | $ | 1,092,400 |  |  | $ | 1,163,367 |  |  | $ | 1,224,563 |
(a) Variable interest rate o f 4.5% at September 30, 2022. (b) Variable interest rate of 1.5% at December 31, 2021. (c) Excludes $1.4 million attributable to the 2024 Revolving Credit Facility included in other assets at December 31, 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, |
|  | 2022 |  |  | 2021 |
Borrowings on bank credit facilities |  | $ | 171,884 |  |  | $ | 4,795 |
Payments on bank credit facilities |  |  | (150,220 | ) |  |  | (252,852 | )
|  | $ | 21,664 |  |  | $ | (248,057 | )
At the beginning of the third quarter of 2022, the Company had an amended and restated credit agreement (the “2024 Credit Agreement”) with a group of commercial banks, with JPMorgan Chase Bank, N.A. as the administrative agent bank, that allowed for an $850 million unsecured revolving credit facility (the “2024 Revolving Credit Facility”) and an unsecured term loan (the “2024 Term Loan”) with a maturity date of March 27, 2024. The 2024 Term Loan was prepayable, in whole or in part, without penalty.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration