Fair Value Measurements (Tables)

9 Months Ended

Sep. 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   September 30, 2021
Assets
Deferred compensation plan	$	25,737	$	—	$	—	$	25,737
Derivative instruments	—		—		953		953
	$	25,737	$	—	$	953	$	26,690
Liabilities
Deferred compensation plan	$	36,525	$	—	$	—	$	36,525
Derivative instruments	—		58,737		156,347		215,084
	$	36,525	$	58,737	$	156,347	$	251,609

(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:

	Nine Months Ended  September 30,
(In thousands)	2021		2020
Balance at beginning of period	$	23,562	$	(22)
Total gain (loss) included in earnings	(222,387)		2,866
Settlement (gain) loss	43,431		(16,678)
Transfers in and/or out of Level 3	—		—
Balance at end of period	$	(155,394)	$	(13,834)
Change in unrealized gains (losses) relating to assets and liabilities still held at the end of the period	$	(156,642)	$	(13,733)

Carrying amounts and fair values of debt

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

	September 30, 2021				December 31, 2020
(In thousands)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt	$	946,509	$	1,010,687	$	1,133,924	$	1,213,811
Current maturities	—		—		(188,000)		(189,332)
Long-term debt, excluding current maturities	$	946,509	$	1,010,687	$	945,924	$	1,024,479