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Long-Term Debt | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Long-Term Debt |
(11) | Long-Term Debt
Long-term debt consists of the following:
|  | December 31, |
|  | 2021 |  |  | 2020 |
$135.9 million payable in 120 equal monthly installments of $1.1 million beginning in April 2021, bearing interest at one-month Euribor plus 0.75% |  | $ | 124,375 |  |  | $ | — |
$15.0 million payable in 14 equal annual installments of $1.1 million beginning in January 2020 including interest imputed at 4.1% per annum |  |  | 10,569 |  |  |  | 11,208 |
$17 million payable in 10 equal annual installments of $1.7 million beginning in October 2021 including interest imputed at 2.0% per annum |  |  | 13,869 |  |  |  | — |
$13.4 million term loan amended such that the loan was repaid in February 2021 plus interest at 0.85% per annum |  |  | — |  |  |  | 13,498 |
|  |  | 148,813 |  |  |  | 24,706 |
Less current maturities |  |  | 15,911 |  |  |  | 14,570 |
Total |  | $ | 132,902 |  |  | $ | 10,136 |
In April 2021, to finance the acquisition of Interparfums SA’s future corporate headquarters, the Company entered into a $135.9 million (€120 million) ten-year credit agreement. Approximately $90.6 million (€80.0 million) of the variable rate debt was swapped for variable interest rate debt with maximum rate of 2% per annum. The swap is a derivative instrument and is therefore recorded at fair value and changes in fair value are reflected in the accompanying consolidated statements of income. Maturities of long-term debt subsequent to December 31, 2021 are approximately $15.9 million in 2022 and $16.4 million per year thereafter through 2033.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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