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DEBT
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
DEBT DEBT
Notes Payable, Revolving Credit Facility and Overdrafts
At March 31, 2021 and December 31, 2020, our notes payable, revolving credit facility and overdrafts, consisted of the following:
March 31,
2021		December 31,
2020
Notes payable 0.0%
$— $200 
Revolving credit facility 0.00%
— 52,000 
Overdrafts 8.10%
1,036 — 
$1,036 $52,200 
We maintain a multi-currency revolving credit facility with two tranches that matures in July 2022 which provides for unsecured financing of up to $300 million that is available in the U.S. and up to €150 million that is available to our wholly-owned UK subsidiary. No balance was utilized under our U.S. facility or our euro-based revolving credit facility as of March 31, 2021. We utilized $52.0 million under our U.S. facility and no balance was utilized on our euro-based revolving credit facility as of December 31, 2020.
There are no compensating balance requirements associated with our revolving credit facility. Each borrowing under the credit facility will bear interest at rates based on LIBOR, prime rates or other similar rates, in each case plus an applicable margin. A facility fee on the total amount of the facility is also payable quarterly, regardless of usage. The applicable margins for borrowings under the credit facility and the facility fee percentage may change from time to time depending on changes in our consolidated leverage ratio.
In October 2020, we entered into an unsecured money market borrowing arrangement to provide short term financing of up to $30 million that is available in the U.S. No borrowing on this facility is permitted over a quarter end date. As such, no balance was utilized under this arrangement as of March 31, 2021 or December 31, 2020.
Long-Term Obligations
At March 31, 2021 and December 31, 2020, our long-term obligations consisted of the following:
March 31, 2021December 31, 2020
Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028
$12,108 $14,002 
Senior unsecured notes 3.2%, due in 2022
75,000 75,000 
Senior unsecured debts 1.5% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022
112,000 112,000 
Senior unsecured notes 3.5%, due in 2023
125,000 125,000 
Senior unsecured notes 1.0%, due in 2023
117,260 122,100 
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
234,520 244,200 
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 Liabilities28,389 30,025 
Unamortized debt issuance costs(1,518)(1,663)
$1,102,759 $1,120,664 
Current maturities of long-term obligations(64,776)(65,666)
Total long-term obligations$1,037,983 $1,054,998 
The aggregate long-term maturities, excluding finance lease liabilities, which are disclosed in Note 7, due annually from the current balance sheet date for the next five years are:
Year One$60,808 
Year Two134,839 
Year Three344,773 
Year Four285,040 
Year Five250,259 
Thereafter169 
Covenants
Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including:
RequirementLevel at March 31, 2021
Consolidated Leverage Ratio (1) 
Maximum of 3.50 to 1.00
 
1.55 to 1.00
Consolidated Interest Coverage Ratio (1) 
Minimum of 3.00 to 1.00
 
17.69 to 1.00
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(1)Definitions of ratios are included as part of the revolving credit facility agreement and the private placement agreements.