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Debt Facilities (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Summary of debt
As of December 31, 2021 and 2020, our mortgage and loans payable consisted of the following (in thousands):
20212020
Term loans$549,697 $1,292,067 
Mortgage payable and loans payable68,691 78,903 
618,388 1,370,970 
Less amount representing unamortized debt discount and debt issuance cost(354)(3,288)
Add amount representing unamortized mortgage premium1,630 1,861 
619,664 1,369,543 
Less current portion(33,087)(82,289)
$586,577 $1,287,254 
Our senior notes consisted of the following as of December 31 (in thousands):
20212020
Senior NotesIssuance DateMaturity DateAmountEffective RateAmountEffective Rate
5.000% Infomart Senior Notes
April 2018April 2021$— — %$150,000 4.51 %
2.625% Senior Notes due 2024
November 2019November 20241,000,000 2.79 %1,000,000 2.79 %
1.250% Senior Notes due 2025
June 2020July 2025500,000 1.46 %500,000 1.46 %
1.000% Senior Notes due 2025
October 2020September 2025700,000 1.18 %700,000 1.18 %
2.900% Senior Notes due 2026
November 2019November 2026600,000 3.04 %600,000 3.04 %
2.875% Euro Senior Notes due 2026
December 2017February 2026— — %611,050 3.04 %
1.450% Senior Notes due 2026
May 2021May 2026700,000 1.64 %— — %
0.250% Euro Senior Notes due 2027
March 2021March 2027569,150 0.45 %— — %
1.800% Senior Notes due 2027
June 2020July 2027500,000 1.96 %500,000 1.96 %
5.375% Senior Notes due 2027
March 2017May 2027— — %1,250,000 5.51 %
1.550% Senior Notes due 2028
October 2020March 2028650,000 1.67 %650,000 1.67 %
2.000% Senior Notes due 2028
May 2021May 2028400,000 2.21 %— — %
3.200% Senior Notes due 2029
November 2019November 20291,200,000 3.30 %1,200,000 3.30 %
2.150% Senior Notes due 2030
June 2020July 20301,100,000 2.27 %1,100,000 2.27 %
2.500% Senior Notes due 2031
May 2021May 20311,000,000 2.65 %— — %
1.000% Euro Senior Notes due 2033
March 2021March 2033682,980 1.18 %— — %
3.000% Senior Notes due 2050
June 2020July 2050500,000 3.09 %500,000 3.09 %
2.950% Senior Notes due 2051
October 2020September 2051500,000 3.00 %500,000 3.00 %
3.400% Senior Notes due 2052
May 2021February 2052500,000 3.50 %— — %
11,102,130 9,261,050 
Less amount representing unamortized debt discount and debt issuance cost(117,986)(92,773)
Add amount representing unamortized debt premium— 186 
10,984,144 9,168,463 
Less current portion— (150,186)
$10,984,144 $9,018,277 
Optional redemption schedule With respect to the rest of the Notes listed below, we may redeem at our election, at any time or from time to time, some or all of the notes of any series before they mature. The redemption price will equal the sum of (1) an amount equal to one hundred percent (100%) of the principal amount of the notes being redeemed plus accrued and unpaid interest up to, but not including, the redemption date and (2) a make-whole premium. If the Notes are
redeemed on or after the First Par Call Date listed in the table below, the redemption price will not include a make-whole premium for the applicable notes.
Senior Notes DescriptionFirst Par Call Date
2.625% Senior Notes due 2024
October 18, 2024
1.000% Senior Notes due 2025
August 15, 2025
1.250% Senior Notes due 2025
June 15, 2025
2.900% Senior Notes due 2026
September 18, 2026
1.800% Senior Notes due 2027
May 15, 2027
1.550% Senior Notes due 2028
January 15, 2028
3.200% Senior Notes due 2029
August 18, 2029
2.150% Senior Notes due 2030
April 15, 2030
3.000% Senior Notes due 2050
January 15, 2050
2.950% Senior Notes due 2051
March 15, 2051
0.250% Euro Senior Notes due 2027
January 15, 2027
1.000% Euro Senior Notes due 2033
December 15, 2032
1.450% Senior Notes due 2026
April 15, 2026
2.000% Senior Notes due 2028
March 15, 2028
2.500% Senior Notes due 2031
February 15, 2031
3.400% Senior Notes due 2052
August 15, 2051
Summary of maturities of debt instruments
The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of December 31, 2021 (in thousands):
Years ending:
2022$582,783 
20236,664 
20241,006,230 
20251,204,640 
20261,304,770 
Thereafter7,617,061 
$11,722,148 
Fair value of debt instruments
The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands):
20212020
Mortgage and loans payable$621,051 $1,379,129 
Senior notes11,049,834 9,705,486 
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):
202120202019
Interest expense$336,082 $406,466 $479,684 
Interest capitalized24,505 26,750 32,173 
Interest charges incurred$360,587 $433,216 $511,857