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Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2023

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):

		June 30, 2023								December 31, 2022
		Carrying Value				Fair Value				Carrying Value				Fair Value
Revolving Credit Facility due July 29, 2027 (a)		$	27,000			$	27,000			$	—			$	—
Term Loan due July 29, 2027 (a)			170,000				170,000				170,000				170,000
3.29% senior notes due February 27, 2023			—				—				350,000				352,275
4.2% senior notes due March 1, 2028			500,000				465,133				500,000				477,660
3.46% senior notes due January 19, 2033			60,000				48,424				60,000				42,647
3.51% senior notes due January 19, 2033			240,000				194,596				—				—
Credit line due June 30, 2024			—				—				—				—
Bank notes payable			7,447				7,447				3,292				3,292
			1,004,447				912,600				1,083,292				1,045,874
Unamortized debt discounts and issuance costs (b)			(6,046	)			—				(3,674	)			—
		$	998,401			$	912,600			$	1,079,618			$	1,045,874

(a)Variable interest rate of 6.6% at June 30, 2023.

(b)Excludes $1.8 million attributable to the 2027 Revolving Credit Facility included in other assets at December 31, 2022.

Borrowings and Payments Under the Bank Credit Facilities

The following table presents borrowings and payments under the bank credit facilities (in thousands):

		Six Months Ended June 30,
		2023				2022
Borrowings on bank credit facilities		$	220,591			$	120,634
Payments on bank credit facilities			(189,436	)			(118,362	)
		$	31,155			$	2,272

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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
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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