Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consists of the following:

	December 31, 2018		December 31, 2017
	(In thousands)
2016 Revolving Credit Facility (1)	$	—	$	75,000
5.0% Senior Subordinated Notes due 2023 (the “5.0% Notes”)	289,273		289,273
6.125% Senior Subordinated Notes due 2027 (the “6.125% Notes”)	250,000		250,000
Mortgage notes to finance companies - fixed rate, bearing interest from 3.51% to 7.03%	215,196		199,972
Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90    percentage points above one-month or three-month LIBOR	180,959		219,719
Other	20,589		3,947
Subtotal	956,017		1,037,911
Debt issuance costs	(10,934)		(13,208)
Total debt	945,083		1,024,703
Less current maturities	(26,304)		(61,314)
Long-term debt	$	918,779	$	963,389

(1) The interest rate on the 2016 Revolving Credit Facility (as defined below) was 250 and 225 basis points above LIBOR at December 31, 2018 and 2017.

Future Maturities of Long-Term Debt

Future maturities of long-term debt are as follows:

	Principal
Year Ending December 31,	(In thousands)
2019	$	26,304
2020	59,756
2021	53,385
2022	43,187
2023	351,314
Thereafter	422,071
Total	$	956,017

Debt Instrument [Line Items]

Financial Covenants Include Required Specified Ratios

We were in compliance with the financial covenants under the 2016 Credit Facilities as of December 31, 2018. Financial covenants include required specified ratios (as each is defined in the 2016 Credit Facilities) of:

	Covenant
	Minimum Consolidated Liquidity Ratio	Minimum Consolidated Fixed Charge Coverage Ratio	Maximum Consolidated Total Lease Adjusted Leverage Ratio
Required ratio	1.05	1.20	5.75
December 31, 2018 actual	1.10	1.43	5.25

Summary of Interest Received and Paid under Term of Cash Flow Swap

Under the terms of these agreements, we will receive and pay interest based on the following:

Notional Amount		Pay Rate (1)	Receive Rate (1) (2)	Start Date	Maturing Date
(In millions)
$	375.0	2.000%	one-month LIBOR	July 1, 2018	June 30, 2019
$	375.0	3.000%	one-month LIBOR	July 1, 2018	June 30, 2019
$	312.5	2.000%	one-month LIBOR	July 1, 2019	June 30, 2020
$	250.0	3.000%	one-month LIBOR	July 1, 2019	June 30, 2020
$	225.0	3.000%	one-month LIBOR	July 1, 2020	June 30, 2021
$	150.0	2.000%	one-month LIBOR	July 1, 2020	July 1, 2021
$	250.0	3.000%	one-month LIBOR	July 1, 2021	July 1, 2022

(1) Under these interest rate caps, no payment will occur unless the stated receive rate exceeds the stated pay rate. If this occurs, a net payment to us from the counterparty based on the spread between the receive rate and the pay rate will be recognized as a reduction of interest expense, other, net in the accompanying consolidated statements of income.

(2) The one-month LIBOR rate was approximately 2.503% at December 31, 2018.

6.125% Notes

Debt Instrument [Line Items]

Redemption Price, Percentage

We may redeem the 6.125% Notes, in whole or in part, at any time on or after March 15, 2022 at the following redemption prices, which are expressed as percentages of the principal amount:

	Redemption Price
Beginning on March 15, 2022	103.063	%
Beginning on March 15, 2023	102.042	%
Beginning on March 15, 2024	101.021	%
Beginning on March 15, 2025 and thereafter	100.000	%