Long-term debt (Tables)

12 Months Ended

Dec. 31, 2019

Our long-term debt is summarized below (in thousands):



	Dec. 31,
	2019			2018
Unsecured floating rate term loan due quarterly through June 2020 ⁽¹⁾	$	20,000		$	60,000
Unsecured floating rate term loan due quarterly through September 2020 ⁽¹⁾	105,000			165,000
Unsecured notes bearing fixed rate interest at 5.125% paid October 2019	—			320,000
Unsecured notes bearing fixed rate interest at 5.125% due July 2020 ⁽¹⁾	310,000			600,000
Unsecured notes bearing fixed rate interest at 4.875% due September 2021	350,000			350,000
Unsecured notes bearing fixed rate interest at 6.375% due October 2023	650,000			650,000
Borrowings under revolving credit facility expiring August 2024	903,000			50,000
Unsecured notes bearing fixed rate interest at 5.50% due September 2024	325,000			325,000
Unsecured notes bearing fixed rate interest at 7.75% due June 2027	200,000			200,000
Unsecured notes bearing fixed rate interest at 7.25% due September 2027	240,000			240,000
Unsecured notes bearing fixed rate interest at 5.00% due September 2029	1,100,000			—
Total principal long-term debt	4,203,000			2,960,000
Debt issuance costs	(26,873		)	(15,458		)
Other (fair market value adjustments and discounts)	3,118			(76		)
Total long-term debt	$	4,179,245		$	2,944,466
⁽¹⁾ We have either refinanced certain of this debt by issuing new long-term notes, or have the intent and ability to refinance the principal payments due within the next 12 months on a long-term basis through our revolving credit facility. As such, all debt presented in the table above is classified as long-term on our December 31, 2019 Consolidated Balance Sheet.

Schedule of Annual Maturities of Long-Term Debt

The following schedule of annual maturities of the principal amount of total debt assumes we use available capacity under our revolving credit facility to refinance unsecured floating rate term loans payments and unsecured notes due in 2020 and 2021 to the extent of the then undrawn capacity. Based on this refinancing assumption, all maturities repaid utilizing the revolver in 2020 and 2021 are reflected as maturities for 2024, the year the revolving credit facility expires (in thousands).



Repayment schedule of principal long-term debt as of Dec. 31, 2019
2020 ⁽¹⁾	$	—
2021 ⁽¹⁾	190,200
2022	—
2023	650,000
2024⁽²⁾	1,822,800
Thereafter	1,540,000
Total	$	4,203,000

(1) Debt payments due in 2020 and 2021 are assumed to be repaid with funds from the revolving credit facility, up to our maximum borrowing capacity. The revolving credit facility expires in 2024. Excluding our ability to repay funds with the revolving credit facility, contractual debt maturities are $435 million for 2020, $350 million in 2021, $650 million in 2023 and $1.2 billion in 2024.

(2) Assumes current revolving credit facility borrowings come due in 2024 and credit facility is not extended.