Long-Term Debt

9 Months Ended

Sep. 30, 2025

Long-Term Debt:

Long-term debt at September 30, 2025 and December 31, 2024 consisted of the following (in thousands):


	September 30,		December 31,
	2025		2024
1.125% notes due 2025	$	439,959	$	393,346
1.625% notes due 2028	583,300		521,500

3.45% Senior notes due 2029	171,612		171,612

4.65% Senior notes due 2027	650,000		650,000
5.05% Senior notes due 2032	600,000		600,000
5.45% Senior notes due 2044	350,000		350,000
5.65% Senior notes due 2052	450,000		450,000




Interest-free loan	300,000		300,000
Variable-rate foreign bank loans	18,704		27,477

Finance lease obligations	116,171		118,796
Other	22,000		22,000
Unamortized discount and debt issuance costs	(75,353)		(88,566)
Total long-term debt	3,626,393		3,516,165
Less amounts due within one year	445,384		398,023
Long-term debt, less current portion	$	3,181,009	$	3,118,142

Accounts Receivable Purchase Agreement

We are party to a master receivables purchase agreement, under which we may sell up to approximately $94 million of available and eligible outstanding customer accounts receivable generated by sales to certain customers. The agreement is uncommitted and can be terminated by us or the purchaser upon notice in accordance with the terms of the agreement.

Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the consolidated balance sheets as of the effective time of the sales transaction. During the three-month and nine-month periods ended September 30, 2025, the Company sold and removed approximately $45.8 million and $106.6 million, respectively, of accounts receivable under this master receivables purchase agreement. The Company incurred approximately $0.2 million and $0.3 million, respectively, of fees associated with the master receivables purchase agreement during the three-month and nine-month periods ended September 30, 2025. Costs associated with the sales of receivables are reflected in the consolidated statements of loss for the periods in which the sales occur.