DEBT AND FINANCING ARRANGEMENTS (Tables)
|12 Months Ended|
Dec. 31, 2021
|Debt Disclosure [Abstract]|
|Carrying Value of Debt Obligations||
The carrying value of our outstanding debt obligations, as of December 31, 2021 and 2020 consists of the following (in millions):
(1) On April 1, 2020, the interest rate on these debentures decreased from 8.375% to 7.620% for the remaining 10 years until maturity.
|Debt Instruments, Average Effective Interest Rate||The average interest rates payable on the notes where fixed interest rates were swapped to variable interest rates, including the impact of the interest rate swaps, for 2021 and 2020 were as follows:
|Aggregate Minimum Lease Payments, Annual Principal Payments and Amounts Expected to be Spent for Purchase Commitments||
The following table sets forth the aggregate annual principal and anticipated interest payments on our long-term debt and our projected aggregate annual purchase commitments (in millions):
(1) Debt interest and purchase commitments include estimates of future amounts yet to be recognized in our financial statements.
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.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef