DEBT (Tables)

12 Months Ended

Dec. 31, 2024

At December 31, 2024 and 2023, our revolving credit facility and overdrafts consisted of the following:


	2024		2023
Revolving credit facility 3.80%	$	176,035	$	80,662
Overdrafts	—		1,132
	$	176,035	$	81,794

Schedule of long-term obligations

At December 31, 2024 and 2023, our long-term obligations consisted of the following:


	December 31, 2024		December 31, 2023
Notes payable 0.00% – 2.25%, due in monthly and annual installments through 2030	$	15,135	$	14,988
Senior unsecured notes 3.4%, due in 2024	—		50,000
Senior unsecured notes 3.5%, due in 2024	—		100,000
Senior unsecured notes 1.2%, due in 2024	—		220,810
Senior unsecured notes 3.6%, due in 2025	125,000		125,000
Senior unsecured notes 3.6%, due in 2026	125,000		125,000
Term loan 5.8% floating, due in 2027	166,000		—
Senior unsecured notes 3.6%, due in 2032, net of discount of $0.7 million	399,258		399,154
Finance Lease Liabilities	23,753		26,478
Unamortized debt issuance costs	(3,830)		(3,816)
	$	850,316	$	1,057,614
Current maturities of long-term obligations	(162,250)		(376,426)
Total long-term obligations	$	688,066	$	681,188

Schedule of maturities of long-term debt

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


2025	$	158,993
2026	155,457
2027	116,488
2028	88
2029	73
Thereafter	399,294

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

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


	Requirement	Level at December 31, 2024
Consolidated Leverage Ratio (1)	Maximum of 3.50 to 1.00	1.08 to 1.00
Consolidated Interest Coverage Ratio (1)	Minimum of 3.00 to 1.00	17.43 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.

+ References

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+ Details