XML 75 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1
DEBT AND FINANCING ARRANGEMENTS (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The following table summarizes the Company's debt:
Year ended December 31,20242023
5.150% Senior Notes
$246,873 $246,789 
4.000% Senior Notes
348,774 348,389 
3.900% Senior Notes
297,556 297,076 
Junior Subordinated Notes421,976 421,460 
Total Debt$1,315,179 $1,313,714 

The tables below provide the key terms of the Company's debt:
DescriptionIssuance DateAggregate PrincipalIssue PriceNet ProceedsMaturity Date
5.150% Senior Notes
March 13, 2014$250,000 99.474 %$246,000 April 1, 2045
4.000% Senior Notes
December 6, 2017$350,000 99.780 %$347,000 December 6, 2027
3.900% Senior Notes
June 19, 2019$300,000 99.360 %$296,000 July 15, 2029
Junior Subordinated NotesDecember 10, 2019$425,000 99.000 %$420,750 January 15, 2040

DescriptionInterest RateInterest Payments Due
5.150% Senior Notes
5.150 %Semi-annually in arrears on April 1 and October 1 of each year
4.000% Senior Notes
4.000 % Semi-annually in arrears on June 6 and December 6 of each year
3.900% Senior Notes
3.900 %Semi-annually in arrears on January 15 and July 15 of each year
Junior Subordinated Notes(1)
4.900 %Semi-annually on January 15 and July 15 of each year
(1)    The Junior Subordinated Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186%. Interest on the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020.
Summary of Debt Maturity
The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2024:
Year ended December 31,
2025$— 
2026— 
2027350,000 
2028
— 
2029
300,000 
After 2029
675,000 
Unamortized discount and debt issuance expenses(9,821)
Total senior notes and notes payable$1,315,179