Financing Arrangements and Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Financing Arrangements and Debt

Note E – Financing Arrangements and Debt

As of March 31, 2025, the Company had a $1.35 billion revolving credit facility (RCF). The RCF is a senior unsecured guaranteed facility which expires on October 7, 2029. At March 31, 2025, the Company had $200.0 million of outstanding borrowings under the RCF and $0.4 million of outstanding letters of credit, which reduce the borrowing capacity of the RCF. At March 31, 2025, the interest rate in effect on borrowings under the RCF was 6.67%. At March 31, 2025, the Company was in compliance with all covenants related to the RCF.

The Company also has a shelf registration statement on file with the U.S. Securities and Exchange Commission (SEC) that permits the offer and sale of debt and/or equity securities through October 15, 2027.