Long-Term Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following: 

	June 30, 2022		June 30, 2021		Dec. 31, 2021
	(Dollars in thousands)
Bank debt
Bank revolving loans	$	675,000	$	195,859	$	—
U.S. term loans	1,000,000		400,000		1,000,000
Other foreign bank revolving and term loans	61,364		47,132		38,862
Total bank debt	1,736,364		642,991		1,038,862
4¾% Senior Notes	—		300,000		300,000
3¼% Senior Notes	679,510		770,835		739,180
4⅛% Senior Notes	600,000		600,000		600,000
2¼% Senior Notes	522,700		592,950		568,600
1.4% Senior Secured Notes	500,000		500,000		500,000
Finance leases	66,938		33,460		68,730
Total debt - principal	4,105,512		3,440,236		3,815,372
Less unamortized debt issuance costs and debt discount	19,348		22,984		22,195
Total debt	4,086,164		3,417,252		3,793,177
Less current portion	718,695		240,859		20,251
	$	3,367,469	$	3,176,393	$	3,772,926

At June 30, 2022, the current portion of long-term debt consisted of $675.0 million of bank revolving loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $41.0 million of other foreign bank revolving and term loans and $2.7 million of finance leases.

On March 28, 2022, we redeemed all $300.0 million aggregate principal amount of our outstanding 4¾% Senior Notes due 2025, or the 4¾% Notes, at a redemption price of 100 percent of their principal amount plus accrued and unpaid interest to the redemption date. We funded this redemption with revolving loan borrowings under the Credit Agreement and cash on hand. As a result of this redemption, we recorded a pre-tax charge for the loss on early extinguishment of debt of $1.5 million during the first quarter of 2022 for the write-off of unamortized debt issuance costs.