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Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Outstanding Debt Balances

The estimated fair value of our outstanding debt balances as of December 31, 2020 and 2019 is set forth below (in thousands):

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

Carrying

 

 

Fair

 

 

Carrying

 

 

Fair

 

 

 

Value

 

 

Value

 

 

Value

 

 

Value

 

3.95% Senior Notes

 

$

509,505

 

 

$

471,019

 

 

$

525,000

 

 

$

511,485

 

5.15% Senior Notes

 

 

349,250

 

 

 

319,560

 

 

 

350,000

 

 

 

358,864

 

Term Loan Agreement

 

 

50,000

 

 

 

50,000

 

 

 

100,000

 

 

 

100,000

 

Total debt

 

$

908,755

 

 

$

840,579

 

 

$

975,000

 

 

$

970,349