Debt Facilities (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of Debt

The Company's mortgage and loans payable consisted of the following as of December 31 (in thousands):

	2019			2018
Term loans	$	1,287,151		$	1,344,482
Mortgage payable and other loans payable	82,967			44,042
	1,370,118			1,388,524
Less the amount representing unamortized debt discount and debt issuance cost	(4,849		)	(6,614		)
Add the amount representing unamortized mortgage premium	1,768			1,882
	1,367,037			1,383,792
Less current portion	(77,603		)	(73,129		)
	$	1,289,434		$	1,310,663

The Company's senior notes consisted of the following as of December 31 (in thousands):

			2019					2018
Senior Notes	Issuance Date	Maturity Date	Amount			Effective Rate		Amount			Effective Rate
5.000% Infomart Senior Notes	April 2018	April 2019 - April 2021	$	450,000		4.46	%	$	750,000		4.40	%
5.375% Senior Notes due 2022	November 2014	January 2022	343,711			5.56	%	750,000			5.56	%
5.375% Senior Notes due 2023	March 2013	April 2023	—			—	%	1,000,000			5.51	%
2.625% Senior Notes due 2024	November 2019	November 2024	1,000,000			2.79	%	—			—	%
2.875% Euro Senior Notes due 2024	March 2018	March 2024	841,500			3.08	%	859,125			3.08	%
5.750% Senior Notes due 2025	November 2014	January 2025	—			—	%	500,000			5.88	%
2.875% Euro Senior Notes due 2025	September 2017	October 2025	1,122,000			3.04	%	1,145,500			3.04	%
2.900% Senior Notes due 2026	November 2019	November 2026	600,000			3.04	%	—			—	%
5.875% Senior Notes due 2026	December 2015	January 2026	1,100,000			6.03	%	1,100,000			6.03	%
2.875% Euro Senior Notes due 2026	December 2017	February 2026	1,122,000			3.04	%	1,145,500			3.04	%
5.375% Senior Notes due 2027	March 2017	May 2027	1,250,000			5.51	%	1,250,000			5.51	%
3.200% Senior Notes due 2029	November 2019	November 2029	1,200,000			3.30	%	—			—	%
			9,029,211					8,500,125
Less amount representing unamortized debt discount and debt issuance cost			(78,030		)			(75,372		)
Add amount representing unamortized debt premium			1,716					5,031
			8,952,897					8,429,784
Less current portion			(643,224		)			(300,999		)
			$	8,309,673				$	8,128,785

Optional Redemption Schedule

Each series of the Company's senior notes, with the exception of 5.000% Infomart Senior Notes, provide for optional redemption. Six series of the Company’s senior notes provide for optional redemption as summarized below:

Senior Notes Description	Early Equity Redemption Price (1)	First Scheduled Redemption Date (2)	First Scheduled Redemption Price	Second Year Redemption Price	Third Year Redemption Price	Fourth Year (if scheduled) Redemption Price
5.375% Senior Notes due 2022	105.375%	January 1, 2018	104.031%	102.688%	101.344%	100.000%
2.875% Euro Senior Notes due 2024	102.875%	September 15, 2020	101.438%	100.719%	100.000%
2.875% Euro Senior Notes due 2025	102.875%	October 1, 2020	101.438%	100.719%	100.000%
5.875% Senior Notes due 2026	105.875%	January 15, 2021	102.938%	101.958%	100.979%	100.000%
2.875% Euro Senior Notes due 2026	102.875%	February 1, 2021	101.438%	100.719%	100.000%
5.375% Senior Notes due 2027	105.375%	May 15, 2022	102.688%	101.792%	100.896%	100.000%

⁽¹⁾  Within 90 days of the closing of one or more equity offerings and at any time prior to the first scheduled redemption date, the Company may redeem up to 35% of the aggregate principal amount of any series of senior notes outstanding, at the respective early equity redemption price, plus accrued and unpaid interest to the redemption date, provided that at least 65% of the aggregate principal amount of the senior notes issued in such series remains outstanding immediately after such redemption(s).

⁽²⁾  On or after the first scheduled redemption date, the Company may redeem all or a part of a series of senior notes at the first scheduled redemption price plus accrued and unpaid interest thereon, if redeemed during the 12 month period beginning on the first scheduled redemption date and at reduced scheduled redemption prices during the 12 or 18 month periods beginning on the anniversaries of the first scheduled redemption date.

At any time prior to the first scheduled redemption date, the Company may redeem all or a part of any series of senior notes at a redemption price equal to 100% of the principal amount of such senior notes redeemed plus an applicable premium and accrued and unpaid interest, subject to the rights of the holders of record of such senior notes on the relevant record date to receive interest due on the relevant interest payment date.

Summary of Maturities of Debt Facilities

The following table sets forth maturities of the Company's debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2019 (in thousands):

Years ending:
2020	$	721,314
2021	227,654
2022	1,180,017
2023	6,683
2024	1,847,714
Thereafter	6,417,715
	$	10,401,097

Fair Value of Debt Facilities

The following table sets forth the estimated fair values of the Company's mortgage and loans payable and senior notes as of December 31 (in thousands):

	2019		2018
Mortgage and loans payable	$	1,378,429	$	1,389,632
Senior notes	9,339,497		8,422,211

Schedule of Interest Charges Incurred

The following table sets forth total interest costs incurred and total interest costs capitalized for the years ended December 31 (in thousands):

	2019		2018		2017
Interest expense	$	479,684	$	521,494	$	478,698
Interest capitalized	32,173		19,880		22,625
Interest charges incurred	$	511,857	$	541,374	$	501,323