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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Long-Term Debt [Abstract] |
Carrying Values and Fair Values of Debt Outstanding | The following table presents the carrying value and fair value of debt outstanding (in thousands):
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Revolving Credit Facility due July 29, 2027 (a) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Term Loan due July 29, 2027 (a) |  |  | 170,000 |  |  |  | 170,000 |  |  |  | — |  |  |  | — |
Term Loan due March 27, 2024 (b) |  |  | — |  |  |  | — |  |  |  | 315,000 |  |  |  | 315,000 |
3.29% senior notes due February 27, 2023 |  |  | 350,000 |  |  |  | 352,275 |  |  |  | 350,000 |  |  |  | 358,390 |
4.2% senior notes due March 1, 2028 |  |  | 500,000 |  |  |  | 477,660 |  |  |  | 500,000 |  |  |  | 549,239 |
3.46% senior notes due January 19, 2033 |  |  | 60,000 |  |  |  | 42,647 |  |  |  | — |  |  |  | — |
Credit Line due June 30, 2024 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank notes payable |  |  | 3,292 |  |  |  | 3,292 |  |  |  | 1,934 |  |  |  | 1,934 |
|  |  | 1,083,292 |  |  |  | 1,045,874 |  |  |  | 1,166,934 |  |  |  | 1,224,563 |
Unamortized debt discounts and issuance costs (c) |  |  | (3,674 | ) |  |  | — |  |  |  | (3,567 | ) |  |  | — |
|  | $ | 1,079,618 |  |  | $ | 1,045,874 |  |  | $ | 1,163,367 |  |  | $ | 1,224,563 |
(a) Variable interest rate of 5.8% at December 31, 2022. (b) Variable interest rate of 1.5% at December 31, 2021. (c) Excludes $1.8 million attributable to the 2027 Revolving Credit Facility included in other assets at December 31, 2022 and $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):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Borrowings on bank credit facilities |  | $ | 175,545 |  |  | $ | 6,162 |  |  | $ | 582,277 |
Payments on bank credit facilities |  |  | (174,187 | ) |  |  | (254,267 | ) |  |  | (332,253 | )
|  | $ | 1,358 |  |  | $ | (248,105 | ) |  | $ | 250,024 |
Aggregate Payments due on Long-Term Debt | The aggregate payments due on the long-term debt in each of the next five years were as follows (in thousands):
2023 |  |  | 353,292 |
2024 |  |  | — |
2025 |  |  | — |
2026 |  |  | — |
2027 |  |  | 170,000 |
Thereafter |  |  | 560,000 |
|  | $ | 1,083,292 |

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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 + Details
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