DEBT (Tables)

12 Months Ended

Dec. 31, 2021

At December 31, 2021 and 2020, our notes payable, revolving credit facility and overdrafts, consisted of the following:


	2021		2020
Notes payable 0.0%	$	—	$	200
Revolving credit facility 1.00% to 1.11%	144,383		52,000
Overdrafts 0.35%	2,893		—
	$	147,276	$	52,200

Schedule of long-term obligations

At December 31, 2021 and 2020, our long-term obligations consisted of the following:


	December 31, 2021		December 31, 2020
Notes payable 0.00% – 11.92%, due in monthly and annual installments through 2030	$	22,785	$	14,002
Senior unsecured notes 3.2%, due in 2022	75,000		75,000
Senior unsecured debts 1.3% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022	56,000		112,000
Senior unsecured notes 3.5%, due in 2023	125,000		125,000
Senior unsecured notes 1.0%, due in 2023	113,830		122,100
Senior unsecured notes 3.4%, due in 2024	50,000		50,000
Senior unsecured notes 3.5%, due in 2024	100,000		100,000
Senior unsecured notes 1.2%, due in 2024	227,660		244,200
Senior unsecured notes 3.6%, due in 2025	125,000		125,000
Senior unsecured notes 3.6%, due in 2026	125,000		125,000
Finance Lease Liabilities	30,185		30,025
Unamortized debt issuance costs	(1,085)		(1,663)
	$	1,049,375	$	1,120,664
Current maturities of long-term obligations	(142,351)		(65,666)
Total long-term obligations	$	907,024	$	1,054,998

Schedule of maturities of long-term debt

The aggregate long-term maturities, excluding finance lease liabilities, which are discussed in Note 8, due annually for the next five years and thereafter are:


2022	$	138,607
2023	238,830
2024	383,415
2025	130,152
2026	128,954
Thereafter	317

Schedule of covenants on revolving credit facility and corporate long-term obligations

Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including:


	Requirement	Level at December 31, 2021
Consolidated Leverage Ratio (1)	Maximum of 3.50 to 1.00	1.84 to 1.00
Consolidated Interest Coverage Ratio (1)	Minimum of 3.00 to 1.00	19.65 to 1.00

(1)Definitions of ratios are included as part of the revolving credit facility agreement and the private placement agreements.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details