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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Components of Long-Term Debt
Our borrowings at December 31, 2021 and 2020 were as follows:
20212020
Senior Credit Facility:
Revolving credit facility, at a rate of 1.48% at December 31, 2021, and 1.66% at December 31, 2020, due 2024
$141,000 $350,000 
Term loan facility, at a rate of 1.48% at December 31, 2021 and 1.65% at December 31 2020, due 2024
647,500 673,000 
4.875% Senior Notes due 2026
— 400,000 
4.625% Senior Notes due 2027
500,000 500,000 
4.25% Senior Notes due 2028
500,000 500,000 
Securitization program, at a rate of 1.00% at December 31, 2021 and 1.24% at December 31, 2020
75,000 75,000 
 1,863,500 2,498,000 
Less: Unamortized debt issuance costs(13,398)(19,612)
 1,850,102 2,478,388 
Current portion of borrowings(110,000)(100,500)
Long-term borrowings$1,740,102 $2,377,888 
Fair Value of Debt The following table provides the fair value of our debt as of December 31, 2021 and 2020, which is valued based on Level 2 inputs within the hierarchy used to measure fair value (see Note 12 to the consolidated financial statements for further information):
December 31, 2021December 31, 2020
Fair value of debt$1,893,518 $2,586,058 
Aggregate Amounts of Long-Term Debt
Debt Maturities
As of December 31, 2021, the aggregate amounts of long-term debt, demand loans and debt under our securitization program that will mature during each of the next four years and thereafter were as follows:
2022$110,000 
202343,750 
2024709,750 
2025— 
2026 and thereafter1,000,000 
Schedule of Cash Flow, Supplemental Disclosures, Debt
Supplemental cash flow information
Year Ended December 31,
202120202019
Cash interest paid$73,598 $79,533 $95,954