FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

Interest Rate Risks and Related Strategies

The Corporation’s primary interest rate exposure results from changes in U.S. dollar interest rates.

Debt

The estimated fair value amounts were determined by the Corporation using available market information that is primarily based on quoted market prices for the same or similar issuances as of September 30, 2024. Accordingly, all of the Corporation’s debt is valued as a Level 2 financial instrument. The fair values described below may not be indicative of net realizable value or

reflective of future fair values. Furthermore, the use of different methodologies to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

	September 30, 2024				December 31, 2023
(In thousands)	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
3.85% Senior notes due 2025	$	90,000	$	89,592	$	90,000	$	88,243
4.24% Senior notes due 2026	200,000		198,030		200,000		195,556
4.05% Senior notes due 2028	67,500		65,925		67,500		64,801
4.11% Senior notes due 2028	90,000		87,597		90,000		85,999
3.10% Senior notes due 2030	150,000		136,032		150,000		131,942
3.20% Senior notes due 2032	150,000		131,372		150,000		127,649
4.49% Senior notes due 2032	200,000		191,392		200,000		187,584
4.64% Senior notes due 2034	100,000		94,978		100,000		92,961
Total debt	1,047,500		994,918		1,047,500		974,735
Debt issuance costs, net	(1,379)		(1,379)		(1,541)		(1,541)
Unamortized interest rate swap proceeds	3,181		3,181		4,403		4,403
Total debt, net	$	1,049,302	$	996,720	$	1,050,362	$	977,597