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Debt Level 1 (Notes)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block] Debt
The components of Debt are:
Years Ended December 31,
20232022
 (In thousands)
7.500% Senior Notes due April 2027$137,424 $138,274 
4.625% Senior Notes due December 2027550,000 550,000 
5.125% Senior Notes due June 2029750,000 750,000 
3.375% Senior Notes due August 2030850,000 850,000 
4.000% Senior Notes due May 2031800,000 800,000 
Term Loan due May 2024— 536,250 
Term Loan due January 2028658,125 — 
Bank Credit Facility due May 2024— 570,000 
Bank Credit Facility due January 2028790,000 — 
Obligations under finance leases132,039 120,837 
Mortgage notes and other debt, maturities through 205080,696 66,248 
Unamortized debt issuance costs(35,788)(39,865)
Total debt$4,712,496 $4,341,744 
Less: Current maturities of long-term debt(63,341)(90,661)
Total long-term debt$4,649,155 $4,251,083 
Current maturities of debt at December 31, 2023 include amounts due under our term loan, mortgage notes and other debt, and finance leases within the next year as well as the portion of unamortized debt issuance costs expected to be recognized in the next twelve months.
Approximately 69% and 72% of our total debt had a fixed interest rate at December 31, 2023 and 2022, respectively.
The components of our weighted average interest rate are as follows:
Years Ended December 31,
20232022
Fixed Debt4.35 %4.32 %
Floating Debt7.44 %2.95 %
Total Debt5.29 %4.00 %
The following table summarizes the aggregate maturities of our debt for the five years subsequent to December 31, 2023 and thereafter, excluding unamortized premiums and debt issuance costs (in thousands):
2024$63,341 
202575,158 
202652,500 
2027748,287 
20281,349,969 
2029 and thereafter2,423,241 
Total debt maturities$4,712,496 
Bank Credit Agreement
In January 2023, we amended our $1.650 billion credit agreement due May 2024 to enter into a new $2.175 billion bank credit agreement due January 2028 with a syndicate of banks. The $2.175 billion bank credit agreement comprises a $1.5 billion Bank Credit Facility, including a sublimit of $100.0 million for letters of credit and a $675.0 million Term Loan, both due January 2028. As a result of the new agreement, at closing, there was a net $138.8 million increase in our outstanding Term Loan balance and a $155.0 million decrease in our outstanding Bank Credit Facility balance.

The bank credit agreement provides us with flexibility for working capital, if needed, and is guaranteed by a majority of our domestic subsidiaries. The subsidiary guaranty is a guaranty of payment of the outstanding amount of the total lending commitment, including letters of credit. The bank credit agreement contains a maximum leverage ratio financial covenant and certain dividend and share repurchase restrictions. As of December 31, 2023, we are in compliance with all of our debt covenants. At December 31, 2023, we issued $39.1 million of letters of credit and pay a quarterly fee on the unused commitment, which was 0.20%. As of December 31, 2023, we have $670.9 million in borrowing capacity under the facility.
As of December 31, 2022, we issued $33.5 million of letters of credit.
Subsequent to December 31, 2023, we decreased our outstanding borrowings by $40.0 million to $750.0 million under our Bank Credit Facility due January 2028.
Debt Issuances and Additions
During the year ended December 31, 2023, we issued or added $957.4 million of debt including:
•$284.1 million in proceeds from certain banks in our Term Loan;
•$600.0 million on our Bank Credit Facility due January 2028;
•$44.3 million in proceeds from certain banks in our Bank Credit Facility;
•$10.0 million on our Bank Credit Facility due May 2024; and
•$19.0 million in other debt.
Net proceeds from newly issued debt during the year ended December 31, 2023 were used to pay down our Bank Credit Facility due May 2024, our Term Loan due May 2024, and for general corporate purposes. These transactions resulted in additional debt issuance costs of $7.5 million.
During the year ended December 31, 2022, we drew $465.0 million on our Bank Credit Facility due May 2024 and issued $19.0 million in other debt primarily for general corporate purposes.
Debt Extinguishments and Reductions
During the year ended December 31, 2023, we made aggregate debt payments of $603.2 million for scheduled and early extinguishment payments including:
•$235.0 million in aggregate principal of our Bank Credit Facility due January 2028;
•$199.3 million in aggregate principal payments to certain banks in our Bank Credit Facility due May 2024;
•$145.3 million in aggregate principal payments to certain banks in our Term Loan due May 2024;
•$16.9 million in aggregate principal of our Term Loan due January 2028;
•$0.9 million in aggregate principal of our 7.5% Senior Notes due April 2027 repurchased in the open market;
•$0.5 million of premiums paid on early extinguishment; and
•$5.3 million in other debt.
Certain of the above transactions resulted in the recognition of a loss of $1.1 million recorded in Losses on early extinguishment of debt, net in our Consolidated Statement of Operations for the year ended December 31, 2023.
During the year ended December 31, 2022, we made aggregate debt payments of $101.9 million for scheduled and early extinguishment payments including:
•$50.0 million in aggregate principal of our Bank Credit Facility due May 2024;
•$32.5 million in aggregate principal of our Term Loan due May 2024;
•$14.4 million in aggregate principal of 7.5% Senior Notes due April 2027 repurchased on the open market;
•$1.2 million of premiums paid on early extinguishment; and
•$3.8 million in other debt.
Certain of the above transactions resulted in the recognition of a loss of $1.2 million recorded in Losses on early extinguishment of debt, net in our Consolidated Statement of Operations for the year ended December 31, 2022.
Additional Debt Disclosures
At December 31, 2023 and 2022, we had deposits of $0.7 million and $0.5 million, respectively, in restricted, interest-bearing accounts that were pledged as collateral for various credit instruments and commercial commitments. These deposits are included in Other current assets and Deferred charges and other assets, net in our Consolidated Balance Sheet.
We had assets of approximately $75.3 million and $59.8 million pledged as collateral for the mortgage notes and other debt at December 31, 2023 and 2022, respectively.

Cash interest payments for the three years ended December 31 were as follows (in thousands):
Payments in 2023
$230,551 
Payments in 2022
$164,222 
Payments in 2021
$142,145 

Expected cash interest payments on our existing long-term debt for the five years subsequent to December 31, 2023 and thereafter are as follows (in thousands):

Payments in 2024
$250,870 
Payments in 2025
249,148 
Payments in 2026
247,603 
Payments in 2027
237,673 
Payments in 2028
104,679 
Payments in 2029 and thereafter
145,087 
Total expected cash interest payments$1,235,060