Indebtedness

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

Indebtedness consisted of the following as of December 31, 2021 (the difference between the face value and the carrying value is unamortized discount and debt issuance costs):

				Carrying Value
(In thousands)	Interest Rate	Face Value		2021		2020
Senior notes and other debt due on:
January 1, 2022	8.700%	$	76,503	$	76,503	$	76,419
March 15, 2022	4.625%	350,000		349,923		349,505
February 15, 2037	6.250%	250,000		248,336		248,226
August 1, 2044	4.750%	350,000		345,836		345,652
May 12, 2050	4.000%	470,000		491,478		492,236
March 30, 2052 (3)	3.550%	400,000		394,015		—
September 30, 2061 (3)	3.150%	350,000		342,761		—
Subsidiary debt (1) (2)	Various	10,564		10,564		110,987
Total senior notes and other debt		$	2,257,067	$	2,259,416	$	1,623,025
Subordinated debentures due on:
March 1, 2056 (3)	5.900%	$	—	$	—	$	106,365
June 1, 2056 (3)	5.750%	—		—		282,003
March 30, 2058	5.700%	185,000		179,166		179,006
December 30, 2059	5.100%	300,000		290,941		290,702
September 30, 2060	4.250%	250,000		244,378		244,233
March 30, 2061 (3)	4.125%	300,000		293,167		—
Total subordinated debentures		$	1,035,000	$	1,007,652	$	1,102,309

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(1) Subsidiary debt is due as follows: $6.1 million in 2024 and $4.5 million in 2025.

(2) In the second quarter of 2021, the Company sold a real estate asset which resulted in a $102 million reduction of the Company's non-recourse debt that was supporting the property. See Note 8, Real Estate, for more details.

(3) In February 2021, the Company issued $300 million aggregate principal amount of 4.125% subordinated debentures due 2061. In March 2021, the Company issued $400 million aggregate principal amount of 3.550% senior notes due 2052 and redeemed its $110 million aggregate principal amount of 5.900% subordinated debentures due 2056. In June 2021, the Company redeemed the $290 million aggregate principal amount of its 5.750% subordinated debentures due 2056. In September 2021, the Company issued $350 million aggregate principal amount of 3.150% senior notes due 2061.