Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

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

(in thousands)	2023			2022
Variable-rate term loans1	$	761,000		$	721,000
Fixed-rate term loans2		210,000			250,000
Revenue bonds3		65,735			65,735
Long-term principal		1,036,735			1,036,735
Debt issuance costs		(1,926	)		(2,324	)
Unamortized discounts		(1,081	)		(1,731	)
Total long-term debt		1,033,728			1,032,680
Less: current portion of long-term debt		(175,615	)		(39,979	)
Long-term debt	$	858,113		$	992,701

1	Variable-rate term loans are at rates of one-month SOFR plus a spread between 1.66% and 2.30% and mature between 2026 and 2033. As of December 31, 2023, the one-month SOFR rate was 5.34%. 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 2024 and 2025.
3	Revenue bonds have a fixed rate of 2.75% and mature in 2024.

Schedule of Maturities of Long-term Debt

Scheduled principal payments due on long-term debt at December 31, 2023 are as follows:

(in thousands)
2024	$	175,735
2025		100,000
2026		27,500
2027		138,750
2028		100,000
Thereafter		494,750
Total	$	1,036,735