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Debt and Interest Expense (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Instruments [Abstract]  
Debt Outstanding and Debt Activity Tables The following table presents the outstanding debt:
 September 30, 2023December 31, 2022
thousandsPrincipalCarrying
Value
Fair
Value (1)
PrincipalCarrying
Value
Fair
Value (1)
Short-term debt
Floating-Rate Senior Notes due 2023
$— $— $— $213,138 $213,121 $214,823 
Finance lease liabilities2,268 2,268 2,268 2,659 2,659 2,659 
Total short-term debt
$2,268 $2,268 $2,268 $215,797 $215,780 $217,482 
Long-term debt
3.100% Senior Notes due 2025
$666,481 $664,844 $638,729 $730,706 $727,953 $692,491 
3.950% Senior Notes due 2025
349,163 347,730 335,675 399,163 396,825 379,107 
4.650% Senior Notes due 2026
467,204 465,566 448,890 474,242 472,161 452,201 
4.500% Senior Notes due 2028
357,094 354,533 332,283 400,000 396,698 368,346 
4.750% Senior Notes due 2028
382,888 380,644 358,230 400,000 397,340 368,141 
6.350% Senior Notes due 2029
600,000 593,081 601,962 — — — 
4.050% Senior Notes due 2030
1,104,593 1,097,358 964,553 1,200,000 1,191,345 1,053,038 
6.150% Senior Notes due 2033
750,000 740,947 724,425 — — — 
5.450% Senior Notes due 2044
600,000 593,992 484,524 600,000 593,878 503,742 
5.300% Senior Notes due 2048
700,000 687,674 548,429 700,000 687,494 580,570 
5.500% Senior Notes due 2048
350,000 342,880 278,674 350,000 342,783 291,194 
5.250% Senior Notes due 2050
1,000,000 984,136 775,000 1,000,000 983,945 829,804 
RCF— — — 375,000 375,000 375,000 
Finance lease liabilities6,666 6,666 6,666 4,160 4,160 4,160 
Total long-term debt
$7,334,089 $7,260,051 $6,498,040 $6,633,271 $6,569,582 $5,897,794 
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(1)Fair value is measured using the market approach and Level-2 fair value inputs.
10. DEBT AND INTEREST EXPENSE

Debt activity. The following table presents the debt activity for the nine months ended September 30, 2023:
thousandsCarrying Value
Balance at December 31, 2022$6,785,362 
RCF borrowings470,000 
Repayments of RCF borrowings(845,000)
Issuance of 6.350% Senior Notes due 2029
600,000 
Issuance of 6.150% Senior Notes due 2033
750,000 
Repayment of Floating-Rate Senior Notes due 2023(213,138)
Repayment of 3.100% Senior Notes due 2025
(64,225)
Repayment of 3.950% Senior Notes due 2025
(50,000)
Repayment of 4.650% Senior Notes due 2026
(7,038)
Repayment of 4.500% Senior Notes due 2028
(42,906)
Repayment of 4.750% Senior Notes due 2028
(17,112)
Repayment of 4.050% Senior Notes due 2030
(95,407)
Finance lease liabilities2,115 
Other(10,332)
Balance at September 30, 2023$7,262,319 
Interest Expense Table The following table summarizes the amounts included in interest expense:
 Three Months Ended 
September 30,		Nine Months Ended 
September 30,
thousands2023202220232022
Long-term and short-term debt
$(83,177)$(81,554)$(249,416)$(243,559)
Finance lease liabilities(223)(23)(616)(96)
Commitment fees and amortization of debt-related costs(2,904)(3,049)(9,199)(9,149)
Capitalized interest 3,550 1,520 8,625 3,471 
Interest expense$(82,754)$(83,106)$(250,606)$(249,333)