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Fair Values of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Outstanding Debt Balances
The estimated fair value of our outstanding debt balances as of March 31, 2024 and December 31, 2023 is set forth below (in thousands):
March 31, 2024December 31, 2023
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
3.95% Senior Notes Due 2028
$482,505 $459,274 $482,505 $450,540 
5.15% Senior Notes Due 2029
344,895 337,487 344,895 329,032 
7.15% Senior Notes Due 2033
400,000 430,206 400,000 424,946 
Equipment Loans Due 202514,661 15,713 18,686 18,766 
Total debt$1,242,061 $1,242,680 $1,246,086 $1,223,284 
Implied Market Rates of Interest Used to Determine the Fair Value of Outstanding Debt
The implied market rates of interest used to determine the fair value of our outstanding debt balances as of March 31, 2024 and December 31, 2023 are set forth below:
March 31, 2024December 31, 2023
3.95% Senior Notes Due 2028
5.55 %5.79 %
5.15% Senior Notes Due 2029
5.60 %6.10 %
7.15% Senior Notes Due 2033
6.09 %6.28 %
Equipment Loans Due 20255.67 %5.36 %