Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Financial assets and liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at   June 30, 2021
Assets
Deferred compensation plan	$	25,820	$	—	$	—	$	25,820
Derivative instruments	—		—		—		—
	$	25,820	$	—	$	—	$	25,820
Liabilities
Deferred compensation plan	$	34,477	$	—	$	—	$	34,477
Derivative instruments	—		18,825		58,374		77,199
	$	34,477	$	18,825	$	58,374	$	111,676

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at   December 31, 2020
Assets
Deferred compensation plan	$	22,510	$	—	$	—	$	22,510
Derivative instruments	—		2,647		23,707		26,354
	$	22,510	$	2,647	$	23,707	$	48,864
Liabilities
Deferred compensation plan	$	30,581	$	—	$	—	$	30,581
Derivative instruments	—		—		145		145
	$	30,581	$	—	$	145	$	30,726

Reconciliation of changes in the fair value of financial assets and liabilities classified as level 3

The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy:

	Six Months Ended  June 30,
(In thousands)	2021		2020
Balance at beginning of period	$	23,562	$	(22)
Total gain (loss) included in earnings	(78,164)		31,721
Settlement (gain) loss	(3,772)		(10,314)
Transfers in and/or out of Level 3	—		—
Balance at end of period	$	(58,374)	$	21,385
Change in unrealized gains (losses) relating to assets and liabilities still held at the end of the period	$	(63,794)	$	21,647

Carrying amounts and fair values of debt

The carrying amount and estimated fair value of debt is as follows:

	June 30, 2021				December 31, 2020
(In thousands)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt	$	1,046,316	$	1,118,321	$	1,133,924	$	1,213,811
Current maturities	(100,000)		(100,444)		(188,000)		(189,332)
Long-term debt, excluding current maturities	$	946,316	$	1,017,877	$	945,924	$	1,024,479