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Debt
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Debt Debt
The principal amounts of the Company’s borrowings subject to variable rates (after consideration of hedging arrangements) totaled approximately $840 and $114,002 at December 31, 2021 and 2020, respectively. The weighted average interest rate on the Company’s outstanding borrowings was approximately 2.35% and 2.65% at December 31, 2021 and 2020, respectively.
Certain borrowings require the Company to comply with a financial covenant with respect to a maximum debt to EBITDA ratio. At December 31, 2021, the Company was in compliance with all such covenants. Due to the workers’ compensation and insurance reserve requirements in certain states, the Company also had unused letters of credit of approximately $72,787 and $69,899 outstanding at December 31, 2021 and 2020, respectively.
On September 30, 2021, the Company entered into the first amendment to the Syndicated Facility Agreement (the "Unsecured Revolving Credit Facility"), dated as of October 30, 2020. The interest rates were amended to reduce the applicable rate by 12.5 basis points (resulting in a rate of LIBOR + 112.5 basis points) and the LIBOR floor from 0.5% to 0.0%. The amendment also extended the maturity by one year to September 30, 2026.
Refer to the subsequent event footnote for information regarding the January 6, 2022 Senior Note Offering.
Amounts outstanding under the Company’s credit facilities, net of debt issuance costs consist of the following:
December 31, 2021December 31, 2020
Unsecured Revolving Credit Facility, $1,500,000, LIBOR plus 1.13% variable, due September 30, 2026
$— $— 
October 27, 2020, Senior Unsecured Notes, $500,000, 1.875% fixed, due November 1, 2030
500,000 500,000 
July 29, 2016, Series G Senior Unsecured Notes, $50,000, 2.64% fixed, due July 29, 2021
— 50,000 
December 2, 2013, Series F Senior Unsecured Notes, $250,000, 3.24% fixed, due December 2, 2023
250,000 250,000 
June 30, 2019, Series A Senior Unsecured Notes, A$155,000, 3.10% fixed, due June 30, 2024
112,375 119,133 
October 30, 2017, Series J Senior Unsecured Notes, €225,000, 1.40% fixed, due October 30, 2024
254,835 276,773 
June 30, 2019, Series B Senior Unsecured Notes, A$155,000, 3.43% fixed, due June 30, 2026
112,375 119,133 
November 30, 2016, Series H Senior Unsecured Notes, $250,000, 3.24% fixed, due November 30, 2026
250,000 250,000 
October 30, 2017, Series K Senior Unsecured Notes, €250,000, 1.81% fixed, due October 30, 2027
283,150 307,525 
October 30, 2017, Series I Senior Unsecured Notes, $120,000, 3.70% fixed, due October 30, 2027
120,000 120,000 
May 31, 2019, Series A Senior Unsecured Notes, €50,000, 1.55% fixed, due May 31, 2029
56,630 61,505 
October 30, 2017, Series L Senior Unsecured Notes, €125,000, 2.02% fixed, due October 30, 2029
141,575 153,762 
May 31, 2019, Series B Senior Unsecured Notes, €100,000, 1.74% fixed, due May 31, 2031
113,260 123,010 
October 30, 2017, Series M Senior Unsecured Notes, €100,000, 2.32% fixed, due October 30, 2032
113,260 123,010 
May 31, 2019, Series C Senior Unsecured Notes, €100,000, 1.95% fixed, due May 31, 2034
113,260 123,010 
Other unsecured debt840 114,002 
Total unsecured debt2,421,560 2,690,863 
Unamortized debt issuance costs(8,041)(9,136)
Unamortized discounts(4,156)(4,582)
Total debt2,409,363 2,677,145 
Less debt due within one year— 160,531 
Long-term debt, excluding current portion$2,409,363 $2,516,614 
Approximate maturities under the Company’s credit facilities are as follows:
2022$— 
2023250,840 
2024367,210 
2025— 
2026362,375 
Thereafter1,441,135 
$2,421,560