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Notes and Contracts Payable (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Notes and Contracts Payable

 

December 31,

 

 

2023

 

 

2022

 

 

(dollars in millions)

 

2.40% senior unsecured notes due August 15, 2031, effective interest rate of 2.44%

 

$

650.0

 

 

$

650.0

 

4.00% senior unsecured notes due May 15, 2030, effective interest rate of 4.05%

 

 

450.0

 

 

 

450.0

 

4.60% senior unsecured notes due November 15, 2024, effective interest rate of
     
4.60%

 

 

300.0

 

 

 

300.0

 

4.30% senior unsecured notes due February 1, 2023, effective interest rate of 4.35%

 

 

 

 

 

250.0

 

Trust deed note due November 1, 2023, interest rate of 5.26%

 

 

 

 

 

4.0

 

Other notes and contracts payable with maturities through 2028, weighted
   -average interest rates of
3.41% and 3.30% at December 31, 2023 and 2022,
   respectively

 

 

4.2

 

 

 

3.8

 

 

 

1,404.2

 

 

 

1,657.8

 

Unamortized discounts and debt issuance costs

 

 

(10.3

)

 

 

(12.0

)

 

$

1,393.9

 

 

$

1,645.8

 

Aggregate Annual Maturities of Notes and Contracts Payable

The aggregate annual maturities for notes and contracts payable for the next five years and thereafter are summarized as follows:

 

Year

 

Annual maturities

 

 

(in millions)

 

2024

 

$

301.7

 

2025

 

 

1.3

 

2026

 

 

0.8

 

2027

 

 

0.3

 

2028

 

 

0.1

 

Thereafter

 

 

1,100.0

 

 

$

1,404.2