Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt consists of the following:


	December 31,
(in thousands)	2021		2020
$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 $5.5 million and $6.1 million at December 31, 2021 and December 31, 2020, respectively	444,470		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 $4.8 million and $5.4 million at December 31, 2021 and December 31, 2020, respectively	395,237		394,635
$400 million senior unsecured notes due 2022 ("2012 Senior Notes") with an effective interest rate of 6.0% less deferred issuance costs of $0.2 million and $0.7 million at December 31, 2021 and December 31, 2020, respectively	$	216,351	$	215,827
$600 million senior unsecured credit facility(1)	—		—
Economic development loans with an effective interest rate of 3.0% at December 31, 2021 and December 31, 2020, respectively	4,416		4,416
Total debt	$	1,060,474	$	1,058,738
Less current portion	216,351		—
Total long-term debt	$	844,123	$	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. As there are no outstanding borrowings at December 31, 2021 and December 31, 2020, deferred issuance costs for the senior unsecured revolving credit facility of $2.3 million and $2.4 million, respectively, are presented in non-current Other assets in the consolidated balance sheets.

Schedule of Maturities of Long-term Debt

Scheduled principal maturities of debt, net of unamortized discounts, premiums and deferred issuance costs, as of December 31, 2021 were as follows:


(in thousands)	Senior Notes		Other Notes Payable		Total
2022	216,351		—		216,351
2023	—		4,416		4,416
2024	—		—		—
2025	—		—		—
2026	—		—		—
Thereafter	839,707		—		839,707
Total payments	$	1,056,058	$	4,416	$	1,060,474