Long-Term Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following: 

	March 31, 2025		March 31, 2024		Dec. 31, 2024
	(Dollars in thousands)
Bank debt
Bank revolving loans	$	1,082,007	$	580,000	$	—
U.S. term loans	850,000		850,000		850,000
Euro term loans	972,180		—		931,950
Other foreign bank revolving and term loans	55,238		57,435		35,725
Total bank debt	2,959,425		1,487,435		1,817,675
3¼% Senior Notes	—		702,000		673,075
4⅛% Senior Notes	600,000		600,000		600,000
2¼% Senior Notes	540,100		540,000		517,750
1.4% Senior Secured Notes	500,000		500,000		500,000
Finance leases	41,228		62,905		41,673
Total debt - principal	4,640,753		3,892,340		4,150,173
Less unamortized debt issuance costs and debt discount	12,190		11,985		13,320
Total debt	4,628,563		3,880,355		4,136,853
Less current portion	1,145,091		1,345,851		716,932
	$	3,483,472	$	2,534,504	$	3,419,921

At March 31, 2025, the current portion of long-term debt consisted of $395.0 million of U.S. revolving loans and $687.0 million of Euro revolving loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $58.8 million of other foreign bank revolving and term loans and $4.3 million of finance leases.

On March 15, 2025, we repaid all €650.0 million aggregate principal amount of our outstanding 3¼% Senior Notes due 2025, or the 3¼% Notes, at 100 percent of their principal amount plus accrued and unpaid interest to the repayment date. We funded this repayment with Euro revolving loan borrowings under the Credit Agreement and cash on hand.