Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Short-term and Long-term Debt

The Company’s short-term and long-term debt at December 31, 2020 and 2019 consisted of the following:

	December 31,
(in thousands)	2020		2019
Short-term debt – non-recourse	$	93,192	$	54,029
Short-term debt – recourse	310,511		93,002
Total short-term debt	403,703		147,031
Current maturities of long-term debt – non-recourse	6,438		9,545
Current maturities of long-term debt – recourse	69,037		53,354
Total current maturities of long-term debt	75,475		62,899
Long-term debt, less: current maturities – non-recourse	143,406		330,250
Long-term debt, less: current maturities – recourse	773,134		685,998
Total long-term debt, less: current maturities	$	916,540	$	1,016,248

Schedule of Long-term Debt

	December 31,
(in thousands, except percentages)	2020		2019
Note payable, variable rate (1.85% at December 31, 2020), payable in increasing amounts plus interest, due 2026	$	225,000	$	237,500
Note payable, variable rate (1.60% at December 31, 2020), payable in increasing amounts plus interest, due 2026	150,000		—
Note payable, variable rate (1.60% at December 31, 2020), payable in increasing amounts plus interest, due 2024	145,000		157,500
Note payable, 4.50%, payable at maturity, due 2034 (a)	102,524		105,000
Finance lease obligations, due serially to 2030 (a)	36,484		38,482
Note payable, 4.07%, payable at maturity, due 2021	26,000		26,000
Note payable, 4.85%, payable at maturity, due 2026	25,000		25,000
Note payable, 4.55%, payable at maturity, due 2023	24,000		24,000
Note payable, 3.33%, payable in increasing amounts plus interest, due 2025 (a)	22,634		23,780
Note payable, 3.29%, payable in increasing amounts plus interest, due 2022 (a)	16,028		17,497
Note payable, 4.50%, payable at maturity, due 2030	16,000		16,000
Note payable, 5.00%, payable at maturity, due 2040	14,000		14,000
Note payable, variable rate (1.77% at December 31, 2020), payable quarterly, due 2024 (a)	11,250		12,250
Industrial revenue bond, variable rate (1.88% at December 31, 2020), payable at maturity, due 2036	21,000		21,000
Debenture bonds, 2.65% to 4.50%, payable in increasing amounts plus interest, due 2021 through 2031	12,730		26,075
Industrial revenue bond, variable rate, paid 2020	—		3,100
	847,650		747,184
Less: current maturities	69,037		53,353
Less: unamortized prepaid debt issuance costs	5,479		7,833
	$	773,134	$	685,998

(a) Debt is collateralized by first mortgages on certain facilities and related equipment or other assets with a book value $172.4 million

The Company's non-recourse long-term debt consists of the following:

	December 31,
(in thousands)	2020		2019
Note payable, variable rate (3.29% at December 31, 2020), payable at maturity, due 2027	$	70,000	$	66,094
Note payable, variable rate (2.89% at December 31, 2020) payable at maturity, due 2024	56,600		—
Non-recourse financing obligations, 3.89% to 4.94%, payable at maturity, due 2021 through 2026	21,974		28,855
Finance lease obligations, due serially to 2023	2,825		655
Line of credit, variable rate, paid 2020	—		180,000
Industrial revenue bond, variable rate, paid 2020	—		49,500
Note payable, variable rate, paid 2020	—		15,465
	151,399		340,569
Less: current maturities	6,438		9,545
Less: unamortized prepaid debt issuance costs	1,555		774
	$	143,406	$	330,250