DEBT (Tables)

12 Months Ended

Dec. 31, 2020

At December 31, 2020 and 2019, our notes payable, revolving credit facility and overdrafts, consisted of the following:


	2020		2019
Notes payable 0.0%	$	200	$	1,436
Revolving credit facility 1.45%	52,000		25,000
Overdrafts 5.68% - 7.82%	—		17,823
	$	52,200	$	44,259

Schedule of long-term obligations

At December 31, 2020 and 2019, our long-term obligations consisted of the following:


	December 31, 2020		December 31, 2019
Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028	$	14,002	$	19,220
Senior unsecured notes 3.2%, due in 2022	75,000		75,000
Senior unsecured debts 1.7% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022	112,000		168,000
Senior unsecured notes 3.5%, due in 2023	125,000		125,000
Senior unsecured notes 1.0%, due in 2023	122,100		112,170
Senior unsecured notes 3.4%, due in 2024	50,000		50,000
Senior unsecured notes 3.5%, due in 2024	100,000		100,000
Senior unsecured notes 1.2%, due in 2024	244,200		224,340
Senior unsecured notes 3.6%, due in 2025	125,000		125,000
Senior unsecured notes 3.6%, due in 2026	125,000		125,000
Finance Lease Liabilities	30,025		29,952
Unamortized debt issuance costs	(1,663)		(2,241)
	$	1,120,664	$	1,151,441
Current maturities of long-term obligations	(65,666)		(65,988)
Total long-term obligations	$	1,054,998	$	1,085,453

Schedule of maturities of long-term debt

The aggregate long-term maturities, excluding finance lease liabilities, which are discussed in Note 8, due annually for the next five years and thereafter are:


2021	$	61,408
2022	135,550
2023	249,788
2024	395,215
2025	125,251
Thereafter	125,090

Schedule of covenants on revolving credit facility and corporate long-term obligations

Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including:


	Requirement	Level at December 31, 2020
Consolidated Leverage Ratio (1)	Maximum of 3.50 to 1.00	1.63 to 1.00
Consolidated Interest Coverage Ratio (1)	Minimum of 3.00 to 1.00	16.86 to 1.00

(1)Definitions of ratios are included as part of the revolving credit facility agreement and the private placement agreements.

- 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