XML 289 R12.htm IDEA: XBRL DOCUMENT
v3.23.2

Long-Term Debt | 6 Months Ended
--- | ---
Jun. 30, 2023
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt consisted of the following:
| June 30, 2023 |  | June 30, 2022 |  | Dec. 31, 2022
| (Dollars in thousands)
Bank debt |  |  |  |  |
Bank revolving loans | $ | 738,000 |  |  | $ | 675,000 |  |  | $ | — |
U.S. term loans | 950,000 |  |  | 1,000,000 |  |  | 1,000,000 |
Other foreign bank revolving and term loans | 71,016 |  |  | 61,364 |  |  | 49,673 |
Total bank debt | 1,759,016 |  |  | 1,736,364 |  |  | 1,049,673 |
3¼% Senior Notes | 709,150 |  |  | 679,510 |  |  | 693,680 |
4⅛% Senior Notes | 600,000 |  |  | 600,000 |  |  | 600,000 |
2¼% Senior Notes | 545,500 |  |  | 522,700 |  |  | 533,600 |
1.4% Senior Secured Notes | 500,000 |  |  | 500,000 |  |  | 500,000 |
Finance leases | 64,225 |  |  | 66,938 |  |  | 65,667 |
Total debt - principal | 4,177,891 |  |  | 4,105,512 |  |  | 3,442,620 |
Less unamortized debt issuance costs and debt discount | 15,328 |  |  | 19,348 |  |  | 17,178 |
Total debt | 4,162,563 |  |  | 4,086,164 |  |  | 3,425,442 |
Less current portion | 811,387 |  |  | 718,695 |  |  | 80,061 |
| $ | 3,351,176 |  |  | $ | 3,367,469 |  |  | $ | 3,345,381 |
At June 30, 2023, the current portion of long-term debt consisted of $738.0 million of U.S. revolving loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $46.7 million of other foreign bank revolving and term loans and $26.7 million of finance leases. On June 22, 2023, we and certain of our wholly owned subsidiaries entered into the Fourth Amendment to Amended and Restated Credit Agreement, or the Fourth Amendment, with the lenders party to the Credit Agreement and Wells Fargo Bank, National Association, as administrative agent. The Fourth Amendment amended the Credit Agreement to provide for the transition from LIBOR based interest rates to SOFR (Secured Overnight Financing Rates) and SONIA (Sterling Overnight Index Average) based interest rates and to provide for standard interest rate benchmark replacement language. The Fourth Amendment also reduced the spread adjustments for Term SOFR borrowings.

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 The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration