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Debt Level 1 (Notes)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block] Debt
The components of Debt are:
Years Ended December 31,
20242023
 (In thousands)
7.500% Senior Notes due April 2027$136,924 $137,424 
4.625% Senior Notes due December 2027550,000 550,000 
5.125% Senior Notes due June 2029750,000 750,000 
3.375% Senior Notes due August 2030850,000 850,000 
4.000% Senior Notes due May 2031800,000 800,000 
5.750% Senior Notes due October 2032800,000 — 
Term Loan due January 2028641,250 658,125 
Bank Credit Facility due January 2028120,000 790,000 
Obligations under finance leases145,061 132,039 
Mortgage notes and other debt, maturities through 205086,044 80,696 
Unamortized debt issuance costs(43,981)(35,788)
Total debt$4,835,298 $4,712,496 
Less: Current maturities of long-term debt(83,850)(63,341)
Total long-term debt$4,751,448 $4,649,155 
Current maturities of debt at December 31, 2024 include amounts due under our term loan, mortgage notes and other debt, and finance leases within the next year as well as the portion of unamortized debt issuance costs expected to be recognized in the next twelve months.
Approximately 84% and 69% of our total debt had a fixed interest rate at December 31, 2024 and 2023, respectively.
The components of our weighted average interest rate are as follows:
Years Ended December 31,
20242023
Fixed Debt4.64 %4.35 %
Floating Debt6.50 %7.44 %
Total Debt4.93 %5.29 %
The following table summarizes the aggregate maturities of our debt for the five years subsequent to December 31, 2024 and thereafter, excluding unamortized premiums and debt issuance costs (in thousands):
2025$83,850 
202661,345 
2027756,395 
2028687,047 
2029767,590 
2030 and thereafter2,479,071 
Total debt maturities$4,835,298 
Bank Credit Agreement
The bank credit agreement provides us with flexibility for working capital, if needed, and is guaranteed by a majority of our domestic subsidiaries. The subsidiary guaranty is a guaranty of payment of the outstanding amount of the total lending commitment, including letters of credit. The bank credit agreement contains a maximum leverage ratio financial covenant and certain dividend and share repurchase restrictions. As of December 31, 2024, we are in compliance with all of our debt covenants. At December 31, 2024, we issued $39.0 million of letters of credit and pay a quarterly fee on the unused commitment, which was 0.20%. As of December 31, 2024, we have $1,341.0 million in borrowing capacity under the facility.
As of December 31, 2023, we issued $39.1 million of letters of credit.
Building Financing

In August 2024, we entered into a new $129.9 million construction loan agreement due 2037 with a syndicate of banks. The purpose of this loan is to provide financing for a new corporate headquarters building. This transaction resulted in additional debt issuance costs of $1.1 million. As of December 31, 2024, we had no borrowing outstanding.
Debt Issuances and Additions
During the year ended December 31, 2024, we issued or added $1,451.1 million of debt including:
•$800.0 million unsecured 5.75% Senior Notes due October 2032;
•$645.0 million on our Bank Credit Facility due January 2028; and
•$6.1 million in other debt.
Net proceeds from newly issued debt during the year ended December 31, 2024 were used to pay down our Bank Credit Facility due January 2028 and for general corporate purposes. These transactions resulted in additional debt issuance costs of $14.3 million.
During the year ended December 31, 2023, we issued or added $957.4 million of debt including:
•$284.1 million from certain banks in our Term Loan;
•$600.0 million on our Bank Credit Facility due January 2028;
•$44.3 million from certain banks in our Bank Credit Facility;
•$10.0 million on our Bank Credit Facility due May 2024; and
•$19.0 million in other debt.
Net proceeds from newly issued debt during the year ended December 31, 2023 were used to pay down our Bank Credit Facility due May 2024, our Term Loan due May 2024, and for general corporate purposes. These transactions resulted in additional debt issuance costs of $7.5 million.
Debt Extinguishments and Reductions
During the year ended December 31, 2024, we made aggregate debt payments of $1,340.0 million for scheduled and early extinguishment payments including:
•$1,315.0 million in aggregate principal of our Bank Credit Facility due January 2028;
•$16.9 million in aggregate principal of our Term Loan due January 2028;
•$0.5 million in aggregate principal of our 7.5% Senior Notes due April 2027 repurchased in the open market; and
•$7.6 million in other debt.
During the year ended December 31, 2023, we made aggregate debt payments of $603.2 million for scheduled and early extinguishment payments including:
•$235.0 million in aggregate principal of our Bank Credit Facility due January 2028;
•$199.3 million in aggregate principal to certain banks in our Bank Credit Facility due May 2024;
•$145.3 million in aggregate principal to certain banks in our Term Loan due May 2024;
•$16.9 million in aggregate principal of our Term Loan due January 2028;
•$0.9 million in aggregate principal of our 7.5% Senior Notes due April 2027 repurchased in the open market;
•$0.5 million of premiums paid on early extinguishment; and
•$5.3 million in other debt.
Certain of the above transactions resulted in the recognition of a loss of $1.1 million recorded in Losses on early extinguishment of debt, net in our Consolidated Statement of Operations for the year ended December 31, 2023.
Additional Debt Disclosures
At both December 31, 2024 and 2023, we had deposits of $0.7 million, respectively, in restricted, interest-bearing accounts that were pledged as collateral for various credit instruments and commercial commitments. These deposits are included in Other current assets and Deferred charges and other assets, net in our Consolidated Balance Sheet.
We had assets of approximately $81.7 million and $75.3 million pledged as collateral for the mortgage notes and other debt at December 31, 2024 and 2023, respectively.
Cash interest payments for the three years ended December 31 were as follows (in thousands):
Payments in 2024
$241,673 
Payments in 2023
$230,551 
Payments in 2022
$164,222 
Expected cash interest payments on our existing long-term debt for the five years subsequent to December 31, 2024 and thereafter are as follows (in thousands):
Payments in 2025
$239,219 
Payments in 2026
237,120 
Payments in 2027
226,661 
Payments in 2028
150,405 
Payments in 2029
125,168 
Payments in 2030 and thereafter
200,452 
Total expected cash interest payments$1,179,025