Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term Debt consists of the following at December 31:

(in thousands)	2022			2021
Variable rate term loans1	$	721,000		$	403,500
Fixed rate term loans2		250,000			290,000
Revenue bonds3		65,735			65,735
Medium-term notes4		—			3,000
Long-term principal		1,036,735			762,235
Debt issuance costs		(2,324	)		(1,598	)
Unamortized discounts		(1,731	)		(2,381	)
Total long-term debt		1,032,680			758,256
Less: current portion of long-term debt		(39,979	)		(42,977	)
Long-term debt	$	992,701		$	715,279

1	Variable rate term loans are at rates of one-month SOFR plus a spread between 1.68% and 2.30% and mature between 2026 and 2032. As of December 31, 2022, the one-month SOFR rate was 4.33%. We have entered into interest rate swaps to fix the interest rate on these variable rate term loans. See Note 10: Derivative Instruments for additional information.
2	Fixed rate term loans are at rates between 4.05% and 4.64% and mature between 2023 and 2025.
3	Revenue bonds have a fixed rate of 2.75% and mature in 2024.
4	Medium-term notes had a fixed rate of 8.75% and were repaid upon maturity in January 2022.

Schedule of Maturities of Long-term Debt

Scheduled principal payments due on long-term debt at December 31, 2022 are as follows:

(in thousands)
2023	$	40,000
2024		175,735
2025		100,000
2026		27,500
2027		138,750
Thereafter		554,750
Total	$	1,036,735