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Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Outstanding Debt Balances

The estimated fair value of the Company’s outstanding debt balances as of December 31, 2018 and 2017 is set forth below (in thousands):

 

 

 

December 31, 2018

 

 

December 31, 2017

 

 

 

Carrying

 

 

Fair

 

 

Carrying

 

 

Fair

 

 

 

Value

 

 

Value

 

 

Value

 

 

Value

 

Borrowings under Credit Agreement:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revolving credit facility

 

$

 

 

$

 

 

$

268,000

 

 

$

268,000

 

3.95% Senior Notes

 

 

525,000

 

 

 

482,488

 

 

 

 

 

 

 

4.97% Series A Senior Notes

 

 

300,000

 

 

 

300,043

 

 

 

300,000

 

 

 

303,966

 

4.27% Series B Senior Notes

 

 

300,000

 

 

 

293,900

 

 

 

300,000

 

 

 

295,616

 

Total debt

 

$

1,125,000

 

 

$

1,076,431

 

 

$

868,000

 

 

$

867,582