Debt and Interest Expense (Tables)

3 Months Ended

Mar. 31, 2022

Debt Instruments [Abstract]

Debt Outstanding and Debt Activity Tables

The following table presents the outstanding debt:

	March 31, 2022						December 31, 2021
thousands	Principal		Carrying Value		Fair Value (1)		Principal		Carrying Value		Fair Value (1)
Short-term debt
4.000% Senior Notes due 2022	$	502,246	$	502,192	$	502,250	$	502,246	$	502,138	$	505,153
Floating-Rate Senior Notes due 2023	213,138		212,760		212,425		—		—		—
Finance lease liabilities	3,201		3,201		3,201		3,794		3,794		3,794
Total short-term debt	$	718,585	$	718,153	$	717,876	$	506,040	$	505,932	$	508,947
Long-term debt
Floating-Rate Senior Notes due 2023	$	—	$	—	$	—	$	213,138	$	212,642	$	213,072
3.100% Senior Notes due 2025	732,106		728,404		728,061		732,106		728,096		764,815
3.950% Senior Notes due 2025	399,163		396,149		402,063		399,163		395,928		418,506
4.650% Senior Notes due 2026	474,242		471,761		485,982		474,242		471,629		516,473
4.500% Senior Notes due 2028	400,000		396,281		407,380		400,000		396,145		437,673
4.750% Senior Notes due 2028	400,000		397,037		413,219		400,000		396,938		444,550
4.050% Senior Notes due 2030	1,200,000		1,190,584		1,201,380		1,200,000		1,190,339		1,323,595
5.450% Senior Notes due 2044	600,000		593,769		609,529		600,000		593,733		717,804
5.300% Senior Notes due 2048	700,000		687,321		694,990		700,000		687,265		844,223
5.500% Senior Notes due 2048	350,000		342,689		347,087		350,000		342,659		418,907
5.250% Senior Notes due 2050	1,000,000		983,765		982,278		1,000,000		983,709		1,183,514
Finance lease liabilities	990		990		990		1,533		1,533		1,533
Total long-term debt	$	6,256,501	$	6,188,750	$	6,272,959	$	6,470,182	$	6,400,616	$	7,284,665

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(1)Fair value is measured using the market approach and Level-2 fair value inputs.

9. DEBT AND INTEREST EXPENSE

Debt activity. The following table presents the debt activity for the three months ended March 31, 2022:

thousands	Carrying Value
Balance at December 31, 2021	$	6,906,548
Finance lease liabilities	(1,135)
Other	1,490
Balance at March 31, 2022	$	6,906,903

Interest Expense Table

The following table summarizes the amounts included in interest expense:

	Three Months Ended  March 31,
thousands	2022		2021
Long-term and short-term debt	$	(83,428)	$	(95,722)
Finance lease liabilities	(42)		(298)
Commitment fees and amortization of debt-related costs	(3,032)		(3,338)
Capitalized interest	1,047		865
Interest expense	$	(85,455)	$	(98,493)