Line of credit facility additional available borrowing capacity

  
The Company recorded write-offs of property, plant and equipment of $0.2 million, $0.3 million and $1.8 million in other operating (income) expense, net within its Consolidated Statements of Income for the years ended December 31, 2021, 2020, and 2019, respectively. 10. Accrued ExpensesAccrued expenses consisted of the following at December 31 (in thousands): 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 2021 |  | 2020 |
| Accrued bonuses |  | $ | 26,950  |  |  | $ | 15,903  |  |
| Accrued payroll and severance |  | 38,328  |  |  | 23,189  |  |
| Accrued taxes |  | 93,627  |  |  | 78,771  |  |
| Accrued commissions/rebates |  | 92,063  |  |  | 81,450  |  |
| Other1 |  | 118,086  |  |  | 83,368  |  |
|  |  | $ | 369,054  |  |  | $ | 282,681  |  |

1Other accrued expenses include several types of amounts due to our merchants, vendors, and other third parties.11. DebtThe Company’s debt instruments at December 31 consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands):  

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 2021 |  | 2020 |
| Term Loan A note payable (a), net of discounts |  | $ | 2,763,162  |  |  | $ | 2,922,042  |  |
| Term Loan B note payable (a), net of discounts |  | 1,871,505  |  |  | 337,347  |  |
| Revolving line of credit A Facility(a) |  | 225,000  |  |  | 280,000  |  |
| Revolving line of credit B Facility(a) |  | —  |  |  | 13,650  |  |
|  |  |  |  |  |
| Revolving line of credit B Facility —foreign swing line(a) |  | —  |  |  | 50,028  |  |
| Other obligations(c) |  | —  |  |  | 211  |  |
| Total notes payable, credit agreements, and other obligations |  | 4,859,667  |  |  | 3,603,277  |  |
| Securitization Facility(b) |  | 1,118,000  |  |  | 700,000  |  |
| Total debt |  | $ | 5,977,667  |  |  | $ | 4,303,277  |  |
| Current portion |  | $ | 1,517,628  |  |  | $ | 1,205,697  |  |
| Long-term portion |  | 4,460,039  |  |  | 3,097,580  |  |
| Total debt |  | $ | 5,977,667  |  |  | $ | 4,303,277  |  |

 \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(a)The Company has a Credit Agreement, which has been amended multiple times and provides for senior secured credit facilities (collectively, the "Credit Facility") consisting of a revolving credit facility in the amount of $1.285 billion, a term loan A facility in the amount of $3.225 billion and a term loan B facility in the amount of $1.9 billion as of December 31, 2021. The revolving credit facility consists of (a) a revolving A credit facility in the amount of $800 million with sublimits for letters of credit and swing line loans, (b) a revolving B facility in the amount of $450 million with borrowings in U.S. Dollars, Euros, British Pounds, Japanese Yen or other currency as agreed in advance and a sublimit for foreign swing line loans, and (c) a revolving C facility in the amount of $35 million with borrowings in U.S. Dollars, Australian Dollars or New Zealand Dollars. The Credit Agreement also includes an accordion feature for borrowing an additional $750 million in term loan A, term loan B, revolver A or revolver B debt and an unlimited amount when the leverage ratio on a pro-forma basis is less than 3.00 to 1.00. Proceeds from the credit facilities may be used for working capital purposes, acquisitions, and other general corporate purposes. The maturity date for the term loan A and revolving credit facilities A, B and C is December 19, 2023. On April 30, 2021, the Company entered into the ninth amendment to the Credit Agreement. The amendment provided for a new seven-year $1.15 billion term loan B. The existing term loan B was paid off with proceeds from the new term loan B. On November 16, 2021, the Company entered into the tenth amendment to the Credit Agreement to provide for LIBOR replacement rates for Euros, British Pounds and Japanese Yen borrowings. On December 22, 2021, the Company entered into the eleventh amendment to the Credit Agreement. The amendment increased the amount of the term loan B facility by $750 million. The new term loan B has a maturity date of April 30, 2028, and interest rates remain unchanged.   
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