Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt

Schedule of debt

Debt consisted of the following:

	As of December 31,
	2023		2022
	(In thousands)
5.10% senior notes due September 2023 (1)	$	—	$	52,004
0.75% senior exchangeable notes due January 2024 (2)		155,529		177,005
5.75% senior notes due February 2025 (2)		474,092		474,092
9.00% senior priority guaranteed notes due February 2025		—		209,384
7.25% senior guaranteed notes due January 2026		555,902		557,902
7.375% senior priority guaranteed notes due May 2027		700,000		700,000
7.50% senior guaranteed notes due January 2028		389,609		389,609
1.75% senior exchangeable notes due June 2029		250,000		—
9.125% senior priority guaranteed notes due January 2030		650,000		—
	$	3,175,132	$	2,559,996
Less: current portion		629,621		—
Less: deferred financing costs		33,992		22,456
Long-term debt	$	2,511,519	$	2,537,540

(1) The 5.10% senior notes due September 2023 were classified as long-term as of December 31, 2022 because we had the ability and intent to refinance this obligation utilizing our 2022 Credit Agreement.

(2) Remaining outstanding aggregate principal balance repaid in January 2024.

Schedule of principal amount and maturities of debt

As of December 31, 2023, the principal amount and maturities of our primary debt for each of the five years following 2023 and thereafter are as follows:

	Paid at Maturity
	(In thousands)
2024	$	629,621	(1)
2025		—
2026		555,902	(2)
2027		700,000	(3)
2028		389,609	(4)
Thereafter		900,000	(5)
	$	3,175,132

(1) Represents our 0.75% senior exchangeable notes due January 2024 and our 5.75% senior notes due February 2025 as a redemption notice for the 5.75% senior notes due February 2025 was issued December 14, 2023.

(2) Represents our 7.25% senior notes due January 2026 and our 2022 credit agreement.

(3) Represents our 7.375% senior priority guaranteed notes due May 2027.

(4) Represents our 7.50% senior notes due January 2028.

(5) Represents our 1.75% senior exchangeable notes due June 2029 and our 9.125% senior priority guaranteed notes due January 2030.

Schedule of letters of credit

We had 8 letter-of-credit facilities with various banks as of December 31, 2023. Availability and borrowings under our letter-of-credit facilities are as follows:

	December 31,
	2023
	(In thousands)
Credit available	$	313,667
Less: Letters of credit outstanding, inclusive of financial and performance guarantees		114,937
Remaining availability	$	198,730