Long-Term Debt

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long-term debt consisted of the following: 

	Sept. 30, 2022		Sept. 30, 2021		Dec. 31, 2021
	(Dollars in thousands)
Bank debt
Bank revolving loans	$	497,000	$	910,000	$	—
U.S. term loans	1,000,000		400,000		1,000,000
Other foreign bank revolving and term loans	66,649		36,003		38,862
Total bank debt	1,563,649		1,346,003		1,038,862
4¾% Senior Notes	—		300,000		300,000
3¼% Senior Notes	636,740		753,285		739,180
4⅛% Senior Notes	600,000		600,000		600,000
2¼% Senior Notes	489,800		579,450		568,600
1.4% Senior Secured Notes	500,000		500,000		500,000
Finance leases	66,109		69,061		68,730
Total debt - principal	3,856,298		4,147,799		3,815,372
Less unamortized debt issuance costs and debt discount	18,273		21,972		22,195
Total debt	3,838,025		4,125,827		3,793,177
Less current portion	591,287		934,246		20,251
	$	3,246,738	$	3,191,581	$	3,772,926

At September 30, 2022, the current portion of long-term debt consisted of $497.0 million of bank revolving loans and $50.0 million of U.S. term loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $41.6 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.