DEBT (Tables)

12 Months Ended

Dec. 31, 2020

DEBT [Abstract]

Debt

	Effective
in thousands	Interest Rates	2020	2019
Short-term Debt
Bank line of credit expires 2025 1		$                  0	$                  0
Total short-term debt		$                  0	$                  0
Long-term Debt
Bank line of credit expires 2025 1		$                  0	$                  0
Floating-rate notes due 2020		0	250,000
Floating-rate notes due 2021	1.11%	500,000	500,000
8.85% notes due 2021	8.88%	6,000	6,000
4.50% notes due 2025	4.65%	400,000	400,000
3.90% notes due 2027	4.00%	400,000	400,000
3.50% notes due 2030	3.94%	750,000	0
7.15% notes due 2037	8.05%	129,239	129,239
4.50% notes due 2047	4.59%	700,000	700,000
4.70% notes due 2048	5.42%	460,949	460,949
Other notes	0.77%	11,711	185
Total long-term debt - face value		$    3,357,899	$    2,846,373
Unamortized discounts and debt issuance costs		(70,224)	(62,033)
Total long-term debt - book value		$    3,287,675	$    2,784,340
Less current maturities		515,435	25
Total long-term debt - reported value		$    2,772,240	$    2,784,315
Estimated fair value of long-term debt		$    3,443,225	$    3,073,693

¹ Borrowings on the bank line of credit are classified as short-term if we intend to repay within twelve months and as long-term if we have the intent and ability to extend payment beyond twelve months.

Schedule of Principal and Interest Debt Payments

in thousands	Total	Principal	Interest
Scheduled Debt Payments (excluding the line of credit)
2021	$      639,303	$     515,435	$     123,868
2022	122,720	457	122,263
2023	122,720	459	122,261
2024	122,720	461	122,259
2025	513,720	400,463	113,257

Standby Letters of Credit

in thousands
Standby Letters of Credit
Risk management insurance	$       48,982
Reclamation/restoration requirements	7,098
Total	$       56,080