v3.20.4
DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Unwound Interest Rate Swap Agreements [Table Text Block]
The remaining fair value amounts associated with unwound interest rate swap agreements are presented in the table below. These amounts are amortized ratably over the remaining life of the related debt instrument into “Interest expense, net” on the consolidated statements of (loss) income.
December 31,
Unwound Interest Rate Swap AgreementsBalance Sheet Location20202019
(Thousands of Dollars)
Fixed-to-floatingCurrent portion of long-term debt$— $2,755 
Fixed-to-floatingLong-term debt, less current portion$1,363 $2,568 
Forward-startingAccumulated other comprehensive (loss) income$(42,150)$3,045 
Derivative Instruments, Gain (Loss) [Table Text Block]
Our forward-starting interest rate swaps had the following impact on earnings:
Year Ended December 31,
202020192018
(Thousands of Dollars)
(Loss) gain recognized in other comprehensive income (loss) on derivative$(30,291)$(19,045)$17,912 
Loss reclassified from AOCI into interest expense, net$(4,265)$(3,814)$(5,499)
Fair Value and Carrying Value of Debt [Table Text Block] The estimated fair values and carrying amounts of the long-term debt, including the current portion and excluding finance leases, were as follows:
December 31, 2020December 31, 2019
 (Thousands of Dollars)
Fair value$3,799,378 $3,442,001 
Carrying amount$3,539,258 $3,331,839