Long-Term Debt

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following: 

	June 30, 2025		June 30, 2024		Dec. 31, 2024
	(Dollars in thousands)
Bank debt
Bank revolving loans	$	1,361,887	$	665,000	$	—
U.S. term loans	850,000		850,000		850,000
Euro term loans	1,056,421		—		931,950
Other foreign bank revolving and term loans	67,224		54,277		35,725
Total bank debt	3,335,532		1,569,277		1,817,675
3¼% Senior Notes	—		696,605		673,075
4⅛% Senior Notes	600,000		600,000		600,000
2¼% Senior Notes	586,900		535,850		517,750
1.4% Senior Secured Notes	500,000		500,000		500,000
Finance leases	40,943		38,134		41,673
Total debt - principal	5,063,375		3,939,866		4,150,173
Less unamortized debt issuance costs and debt discount	11,298		10,902		13,320
Total debt	5,052,077		3,928,964		4,136,853
Less current portion	1,937,384		1,398,246		716,932
	$	3,114,693	$	2,530,718	$	3,419,921

At June 30, 2025, the current portion of long-term debt consisted of $640.0 million of U.S. revolving loans, $721.9 million of Euro revolving loans, $8.5 million of U.S. term loans and $10.6 million of Euro term loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $500.0 million of our 1.4% Senior Secured Notes, $52.3 million of other foreign bank revolving and term loans and $4.1 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.