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Financing Arrangements and Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2018
Financing Arrangements and Long-Term Debt [Abstract]  
Schedule of Long-term Debt



 

 

 

 



December 31,

(Thousands of dollars)

2018

 

2017

Notes payable

 

 

 

 

     4.00% notes, due June 2022

$

500,000 

 

500,000 

     4.45% notes, due December 20221

 

600,000 

 

600,000 

     6.875% notes, due August 2024

 

550,000 

 

550,000 

     5.75% notes, due August 2025

 

550,000 

 

550,000 

     7.05% notes, due May 2029

 

250,000 

 

250,000 

     5.875% notes, due December 20421

 

350,000 

 

350,000 

         Total notes payable

 

2,800,000 

 

2,800,000 

     Unamortized debt issuance cost and discount on notes payable

 

(23,627)

 

(27,433)

         Total notes payable, net of unamortized discount

 

2,776,373 

 

2,772,567 

Capitalized lease obligation, due through March 2029

 

136,344 

 

143,855 

         Total debt including current maturities

 

2,912,717 

 

2,916,422 

Senior Unsecured Revolving Credit Facility

 

325,000 

 

 -

Current maturities

 

(10,583)

 

(9,902)

         Total long-term debt

$

3,227,134 

 

2,906,520 

1 Due to a series of ratings changes by credit agencies, the paying interest rates on the notes due December 2022 and December 2042 decreased from 4.7% to 4.45% and 6.125% to 5.875%, respectively, in 2017 and remained through 2018.