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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt

At December 31, 2024 and 2023, debt was comprised of the following:

 

(In thousands)

 

Maturity
Dates

 

December 31,
2024

 

 

December 31,
2023

 

Senior unsecured notes

 

 

 

 

 

 

 

 

3.95% (net of unamortized debt issuance cost of $99 and
    $
191 for 2024 and 2023, respectively)

 

2025-2027

 

$

42,759

 

 

$

56,952

 

3.86% (net of unamortized debt issuance cost of $15 and
    $
105 for 2024 and 2023, respectively)

 

2025

 

 

14,270

 

 

 

28,466

 

2.30% (net of unamortized debt issuance cost of $77 and
    $
142 for 2024 and 2023, respectively)

 

2025-2028

 

 

39,923

 

 

 

49,858

 

2.37% (net of unamortized debt issuance cost of $83 and
    $
148 for 2024 and 2023, respectively)

 

2025-2028

 

 

39,917

 

 

 

49,852

 

2.73% (net of unamortized debt issuance cost of $70 and
    $
175 for 2024 and 2023, respectively)

 

2025-2031

 

 

99,930

 

 

 

99,825

 

2.83% (net of unamortized debt issuance cost of $60 and
    $
134 for 2024 and 2023, respectively)

 

2026-2032

 

 

74,940

 

 

 

74,866

 

Revolving credit facility and term loan borrowing

 

2025

 

 

313,700

 

 

 

283,000

 

Debt of foreign subsidiaries

 

 

 

 

 

 

 

 

Unsecured bank debt, foreign currency

 

 

 

 

 

 

 

11,327

 

Total debt

 

 

 

$

625,439

 

 

$

654,146

 

Less current maturities

 

 

 

 

292,807

 

 

 

252,898

 

Long-term debt

 

 

 

$

332,632

 

 

$

401,248

 

Schedule of Net Interest Expense

Net interest expense for the years ended December 31, 2024, 2023 and 2022, comprised the following:

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

Interest expense

 

$

33,030

 

 

$

29,361

 

 

$

17,852

 

Interest income

 

 

(5,283

)

 

 

(3,843

)

 

 

(1,080

)

 

 

 

27,747

 

 

 

25,518

 

 

 

16,772

 

Capitalized interest

 

 

(13,565

)

 

 

(13,415

)

 

 

(6,963

)

Interest expense, net

 

$

14,182

 

 

$

12,103

 

 

$

9,809