Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Long-Term Debt [Abstract]

Long-Term Debt

Long-term debt consists of the following:  

	December 31,
	2016		2015
Revolver under Credit Agreement	$	310,582	$	-
Term loan under Credit Agreement		1,637,500		-
Revolver under prior credit agreement		-		390,000
Term loan under prior credit agreement		-		800,000
2016 Notes		-		100,000
2018 Notes		50,000		50,000
2019 Notes		175,000		175,000
2021 Notes		100,000		100,000
New 2021 Notes		150,000		-
2022 Notes		125,000		125,000
2023 Notes		200,000		-
2025 Notes		375,000		375,000
2026 Notes		400,000		-
Tax-exempt bonds		95,430		31,430
Notes payable to sellers and other third parties, bearing interest at 3.00% to 24.81%, principal and interest payments due periodically with due dates ranging from 2017 to 2036(a)		14,180		10,855
		3,632,692		2,157,285
Less – current portion		(1,650)		(2,127)
Less – debt issuance costs		(14,282)		(8,031)
	$	3,616,760	$	2,147,127

____________________

(a) Interest rates represent the interest rates incurred at December 31, 2016.

Details of the Company's Credit Agreement

Summary details of indebtedness under the Credit Agreement at December 31, 2016 are as follows:

Revolver under Credit Agreement
Available	$	1,004,451
Letters of credit outstanding	$	247,467
Total amount drawn, as follows:	$	310,582
Amount drawn – Canadian prime rate loan	$	7,448
Interest rate applicable - Canadian prime rate loan		2.95%
Interest rate margin – Canadian prime rate loan		0.25%
Amount drawn – Canadian bankers’ acceptance (“BA”) loan	$	303,134
Interest rate applicable – Canadian BA loan		2.13%
Interest rate acceptance fee – Canadian BA loan		1.20%
Commitment – rate applicable		0.15%
Term loan under Credit Agreement
Amount drawn – U.S. based LIBOR loan	$	1,637,500
Interest rate applicable – U.S. based LIBOR loan		1.97%
Interest rate margin – U.S. based LIBOR loan		1.20%

Tax-Exempt Bond Financing

The Company’s tax-exempt bond financings are as follows:

	Type of Interest	Interest Rate on Bond at December 31,	Maturity Date of	Outstanding Balance at December 31,				Backed by Letter of Credit
Name of Bond	Rate	2016	Bond	2016		2015		(Amount)
West Valley Bond	Variable	0.80%	August 1, 2018	$	15,500	$	15,500	$	15,678
LeMay Washington Bond	Variable	0.77	April 1, 2033		15,930		15,930		16,126
PA IRB Facility	Variable	0.78	November 1, 2028		35,000		-		35,336
TX IRB Facility	Variable	0.78	April 1, 2022		24,000		-		24,230
2009 Seneca IRB Facility	Variable	0.78	December 31, 2039		5,000		-		5,058
				$	95,430	$	31,430	$	96,428

Aggregate Contractual Future Principal Payments by Calendar Year on Long-Term Debt

As of December 31, 2016, aggregate contractual future principal payments by calendar year on long-term debt are due as follows: 

2017	$	1,650
2018		67,149
2019		176,789
2020		1,383
2021		2,199,393
Thereafter		1,186,328
	$	3,632,692