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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Components of Long-Term Debt
Our borrowings at December 31, 2022 and 2021 were as follows:
20222021
Senior Credit Facility:
Revolving credit facility, at a rate of 5.80% at December 31, 2022, and 1.48% at December 31, 2021, due 2027
$148,250 $141,000 
Term loan facility, at a rate of 5.80% at December 31, 2022 and 1.48% at December 31 2021, due 2027
500,000 647,500 
4.625% Senior Notes due 2027
500,000 500,000 
4.25% Senior Notes due 2028
500,000 500,000 
Securitization program, at a rate of 5.11% at December 31, 2022 and 1.00% at December 31, 2021
75,000 75,000 
 1,723,250 1,863,500 
Less: Unamortized debt issuance costs(11,727)(13,398)
 1,711,523 1,850,102 
Current portion of borrowings(87,500)(110,000)
Long-term borrowings$1,624,023 $1,740,102 
Fair Value of Debt The following table provides the fair value of our debt as of December 31, 2022 and 2021, which is valued based on Level 2 inputs within the hierarchy used to measure fair value (see Note 12 to the consolidated financial statements for further information):
December 31, 2022December 31, 2021
Fair value of debt$1,674,232 $1,893,518 
Aggregate Amounts of Long-Term Debt
Debt Maturities
As of December 31, 2022, the aggregate amounts of long-term debt, demand loans and debt under our securitization program that will mature during each of the next four years and thereafter were as follows:
2023$87,500 
202412,500 
202525,000 
202625,000 
2027 and thereafter1,573,250 
Schedule of Cash Flow, Supplemental Disclosures, Debt Supplemental cash flow information
Year Ended December 31,
202220212020
Cash interest paid$70,918 $73,598 $79,533