Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Long-term Debt and Capital Lease Obligations [Abstract]

Schedule of Long-Term Debt

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

(in thousands, except interest rates)	September 30, 2018	December 31, 2017
Revolving credit agreement with borrowings outstanding at an end of period interest rate of 3.61% in 2018 and 3.40% in 2017 (including the effect of interest rate hedging transactions, as described below), due in 2022	$504,000	$501,000
Finance lease obligation	26,234	14,919
Long-term debt	530,234	515,919
Less: current portion	(1,231)	(1,799)
Long-term debt, net of current portion	$529,003	$514,120

Schedule of Future Minimum Annual Capital Lease Obilgations

The following schedule presents future minimum annual lease payments under the finance lease obligation and the present value of the minimum lease payments, as of September 30, 2018.

Years ending December 31,	(in thousands)
2018	$623
2019	2,472
2020	2,995
2021	2,997
2022	3,054
Thereafter	22,207
Total minimum lease payments	34,348
Less:Amount representing interest	(8,114)
Present value of minimum lease payments	$26,234