Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Long-term Debt and Capital Lease Obligations [Abstract]

Schedule of Long-Term Debt

Long-term debt, principally to banks and noteholders, consists of:

(in thousands, except interest rates)	2017		2016
Revolving credit agreements with borrowings outstanding at an end of period interest rate of 3.40% in 2017 and 2.58% in 2016 (including the effect of interest rate hedging transactions, as described below), due in 2022	$501,000		$418,000
Private placement with a fixed interest rate of 6.84%, final payment was made October 25, 2017	-		50,000
Obligation under capital lease, matures 2022	14,919		16,584
Long-term debt	515,919		484,584
Less: current portion	(1,799	)	(51,666	)
Long-term debt, net of current portion	$514,120		$432,918

Schedule of Future Minimum Annual Capital Lease Obilgations

The following schedule presents future minimum annual lease payments under the capital lease obligation and the present value of the minimum lease payments, as of December 31, 2017.

Years ending December 31,	(in thousands)
2018	$2,473
2019	2,473
2020	2,520
2021	2,520
2022	7,373
Total minimum lease payments	17,359
Less: Amount representing interest	(2,440	)
Present value of minimum lease payments	$14,919