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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Long-term debt consisted of the following at December 31, 2021 and 2020 (in thousands):


	Effective Interest Rate	December 31, 2021			December 31, 2020
Term Loan Agreement (1)		$	—		$	50,000
3.95% Senior Notes	4.03%		509,505			509,505
5.15% Senior Notes	5.26%		349,250			349,250
			858,755			908,755
Less deferred financing costs and discounts			(6,432	)		(7,271	)
Total		$	852,323		$	901,484

(1)

The borrowings outstanding under the Term Loan Agreement maturing in June 2022 were previously classified as long-term because we had the ability and intent to repay these obligations utilizing our revolving credit facility.

Schedule of Principal Repayment Requirements of Long Term Debt

Presented below is a schedule of the principal repayment requirements of long-term debt by fiscal year as of December 31, 2021 (in thousands):


Year ending December 31,
2022	$	—
2023		—
2024		—
2025		—
2026		—
Thereafter		858,755
Total	$	858,755

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details