Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

Debt

Debt consists of the following:

	September 30, 2021		December 31, 2020
	(in thousands)
$450 million senior unsecured notes due 2031 ("2020 Senior Notes") with an effective interest rate of 3.86%, less a discount and deferred issuance costs of $5.7 million and $6.1 million at September 30, 2021 and December 31, 2020, respectively	$	444,318	$	443,860
$400 million senior unsecured notes due 2029 ("2019 Senior Notes") with an effective interest rate of 3.88%, less a discount and deferred issuance costs of $4.9 million and $5.4 million at September 30, 2021 and December 31, 2020, respectively	395,086		394,635
$400 million senior unsecured notes due 2022 ("2012 Senior Notes") with an effective interest rate of 6.00%, less deferred issuance costs of $0.4 million and $0.7 million at September 30, 2021 and December 31, 2020, respectively	216,217		215,827
$600 million senior unsecured revolving credit facility (1)	—		—
Economic development loans with an effective interest rate of 3.00% at September 30, 2021 and December 31, 2020, respectively	4,416		4,416
Total debt	$	1,060,037	$	1,058,738
Less current portion	216,217		—
Long-term debt	$	843,820	$	1,058,738

(1) During the third quarter of 2020, the Company utilized excess cash on hand to pay down its senior unsecured revolving credit facility balance in full and the facility remains undrawn as of September 30, 2021 and December 31, 2020. As there are no outstanding borrowings at September 30, 2021 or December 31, 2020, deferred issuance costs for the senior unsecured revolving credit facility of $2.4 million and $2.4 million, respectively, are presented in non-current Other assets in the consolidated balance sheets.

In August 2021, the Company executed a one-year extension on the senior unsecured revolving credit facility for $540 million of the $600 million total capacity in exchange for fees of $0.4 million. The extended maturity date is August 20, 2026.

Refer to Note 12 and the Liquidity and Capital Resources header of "Management's Discussion and Analysis of Financial Condition and Results of Operations" for more information.