Debt Outstanding and Debt Activity Tables |
The following table presents the outstanding debt: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2021 | | December 31, 2020 | thousands | | Principal | | Carrying Value | | Fair Value (1) | | Principal | | Carrying Value | | Fair Value (1) | Short-term debt | | | | | | | | | | | | | 4.000% Senior Notes due 2022 | | $ | 502,246 | | | $ | 502,086 | | | $ | 510,243 | | | $ | — | | | $ | — | | | $ | — | | 5.375% Senior Notes due 2021 | | — | | | — | | | — | | | 431,081 | | | 430,606 | | | 436,241 | | RCF | | 220,000 | | | 220,000 | | | 220,000 | | | — | | | — | | | — | | Finance lease liabilities | | 4,343 | | | 4,343 | | | 4,343 | | | 8,264 | | | 8,264 | | | 8,264 | | Total short-term debt | | $ | 726,589 | | | $ | 726,429 | | | $ | 734,586 | | | $ | 439,345 | | | $ | 438,870 | | | $ | 444,505 | | | | | | | | | | | | | | | Long-term debt | | | | | | | | | | | | | 4.000% Senior Notes due 2022 | | $ | — | | | $ | — | | | $ | — | | | $ | 580,917 | | | $ | 580,555 | | | $ | 597,568 | | Floating-Rate Senior Notes due 2023 | | 213,138 | | | 212,521 | | | 212,773 | | | 239,978 | | | 238,879 | | | 235,066 | | 3.100% Senior Notes due 2025 | | 732,106 | | | 727,794 | | | 774,328 | | | 1,000,000 | | | 992,900 | | | 1,028,614 | | 3.950% Senior Notes due 2025 | | 399,163 | | | 395,708 | | | 421,970 | | | 500,000 | | | 494,866 | | | 512,807 | | 4.650% Senior Notes due 2026 | | 474,242 | | | 471,500 | | | 513,758 | | | 500,000 | | | 496,708 | | | 524,880 | | 4.500% Senior Notes due 2028 | | 400,000 | | | 396,010 | | | 433,214 | | | 400,000 | | | 395,617 | | | 415,454 | | 4.750% Senior Notes due 2028 | | 400,000 | | | 396,840 | | | 437,005 | | | 400,000 | | | 396,555 | | | 418,786 | | 4.050% Senior Notes due 2030 | | 1,200,000 | | | 1,190,102 | | | 1,324,159 | | | 1,200,000 | | | 1,189,407 | | | 1,342,996 | | 5.450% Senior Notes due 2044 | | 600,000 | | | 593,699 | | | 691,067 | | | 600,000 | | | 593,598 | | | 607,234 | | 5.300% Senior Notes due 2048 | | 700,000 | | | 687,210 | | | 807,613 | | | 700,000 | | | 687,048 | | | 694,172 | | 5.500% Senior Notes due 2048 | | 350,000 | | | 342,629 | | | 409,945 | | | 350,000 | | | 342,543 | | | 343,928 | | 5.250% Senior Notes due 2050 | | 1,000,000 | | | 983,659 | | | 1,176,283 | | | 1,000,000 | | | 983,512 | | | 1,100,375 | | Finance lease liabilities | | 2,202 | | | 2,202 | | | 2,202 | | | 23,644 | | | 23,644 | | | 23,644 | | Total long-term debt | | $ | 6,470,851 | | | $ | 6,399,874 | | | $ | 7,204,317 | | | $ | 7,494,539 | | | $ | 7,415,832 | | | $ | 7,845,524 | | | | | | | | | | | | | | |
_________________________________________________________________________________________ (1)Fair value is measured using the market approach and Level-2 fair value inputs. 11. DEBT AND INTEREST EXPENSE
Debt activity. The following table presents the debt activity for the nine months ended September 30, 2021: | | | | | | | | | thousands | | Carrying Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at December 31, 2020 | | $ | 7,854,702 | | RCF borrowings | | 400,000 | | Repayments of RCF borrowings | | (180,000) | | Repayment of 5.375% Senior Notes due 2021 | | (431,081) | | Repayment of 4.000% Senior Notes due 2022 | | (78,671) | | Repayment of Floating-Rate Senior Notes due 2023 | | (26,840) | | Repayment of 3.100% Senior Notes due 2025 | | (267,894) | | Repayment of 3.950% Senior Notes due 2025 | | (100,837) | | Repayment of 4.650% Senior Notes due 2026 | | (25,758) | | Finance lease liabilities | | (25,364) | | Other | | 8,046 | | Balance at September 30, 2021 | | $ | 7,126,303 | |
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