DEBT (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Debt Disclosure [Abstract] |
|
| Schedule of Long-term Debt Instruments [Table Text Block] |
Long-term debt consisted of the following: | | | | | | | | | | | | | | | | | | December 31, | | Maturity | | 2015 | | 2014 | | | | | | (Thousands of Dollars) | $1.5 billion revolving credit agreement | | 2019 | | | $ | 882,664 |
| | $ | 601,496 |
| 4.75% senior notes | | 2022 | | | 250,000 |
| | 250,000 |
| 6.75% senior notes | | 2021 | | | 300,000 |
| | 300,000 |
| 4.80% senior notes | | 2020 | | | 450,000 |
| | 450,000 |
| 7.65% senior notes | | 2018 | | | 350,000 |
| | 350,000 |
| 7.625% subordinated notes | | 2043 | | | 402,500 |
| | 402,500 |
| Gulf Opportunity Zone revenue bonds | 2038 | thru | 2041 | | 365,440 |
| | 365,440 |
| Receivables Financing Agreement | | 2018 | | | 53,500 |
| | — |
| Net fair value adjustments and unamortized discounts | | N/A | | | 25,245 |
| | 30,016 |
| Total long-term debt | | | | | $ | 3,079,349 |
| | $ | 2,749,452 |
|
|
| Schedule of Maturities of Long-term Debt [Table Text Block] |
The long-term debt repayments are due as follows (in thousands): | | | | | 2016 - 2017 | $ | — |
| 2018 | 403,500 |
| 2019 | 882,664 |
| 2020 | 450,000 |
| Thereafter | 1,317,940 |
| Total repayments | 3,054,104 |
| Net fair value adjustments and unamortized discounts | 25,245 |
| Total long-term debt | $ | 3,079,349 |
|
|
| Schedule of GoZone Bonds [Table Text Block] |
The following table summarizes the Gulf Opportunity Zone Revenue Bonds outstanding as of December 31, 2015: | | | | | | | | | | | | | | | | | | | | | | | Date Issued | | Maturity Date | | Amount Outstanding | | Amount of Letter of Credit | | Amount Received from Trustee | | Amount Remaining in Trust | | Average Annual Interest Rate | | | | | (Thousands of Dollars) | | | June 26, 2008 | | June 1, 2038 | | $ | 55,440 |
| | $ | 56,169 |
| | $ | 55,440 |
| | $ | — |
| | 0.1 | % | July 15, 2010 | | July 1, 2040 | | 100,000 |
| | 101,315 |
| | 100,000 |
| | — |
| | 0.1 | % | October 7, 2010 | | October 1, 2040 | | 50,000 |
| | 50,658 |
| | 43,441 |
| | 6,806 |
| | 0.1 | % | December 29, 2010 | | December 1, 2040 | | 85,000 |
| | 86,118 |
| | 37,528 |
| | 48,016 |
| | 0.1 | % | August 29, 2011 | | August 1, 2041 | | 75,000 |
| | 75,986 |
| | 75,000 |
| | — |
| | 0.1 | % | | | Total | | $ | 365,440 |
| | $ | 370,246 |
| | $ | 311,409 |
| | $ | 54,822 |
| | |
|