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Debt Facilities (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2022 and 2021, our mortgage and loans payable consisted of the following (in thousands):
20222021
Term loans$619,090 $549,697 
Mortgage payable and loans payable34,527 68,691 
653,617 618,388 
Less amount representing unamortized debt discount and debt issuance cost(1,062)(354)
Add amount representing unamortized mortgage premium— 1,630 
652,555 619,664 
Less current portion(9,847)(33,087)
$642,708 $586,577 
Our senior notes consisted of the following as of December 31 (in thousands):
20222021
Senior NotesIssuance DateMaturity DateAmountEffective RateAmountEffective Rate
2.625% Senior Notes due 2024
November 2019November 2024$1,000,000 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 %
1.450% Senior Notes due 2026
May 2021May 2026700,000 1.64 %700,000 1.64 %
0.250% Euro Senior Notes due 2027
March 2021March 2027534,950 0.45 %569,150 0.45 %
1.800% Senior Notes due 2027
June 2020July 2027500,000 1.96 %500,000 1.96 %
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 %400,000 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 %1,000,000 2.65 %
3.900% Senior Notes due 2032
April 2022April 20321,200,000 4.07 %— — %
1.000% Euro Senior Notes due 2033
March 2021March 2033641,940 1.18 %682,980 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 %500,000 3.50 %
12,226,890 11,102,130 
Less amount representing unamortized debt discount and debt issuance cost(117,351)(117,986)
12,109,539 10,984,144 
Less current portion— — 
$12,109,539 $10,984,144 
Schedule of Optional Redemption 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
1.250% Senior Notes due 2025
June 15, 2025
1.000% Senior Notes due 2025
August 15, 2025
1.450% Senior Notes due 2026
April 15, 2026
2.900% Senior Notes due 2026
September 18, 2026
0.250% Euro Senior Notes due 2027
January 15, 2027
1.800% Senior Notes due 2027
May 15, 2027
1.550% Senior Notes due 2028
January 15, 2028
2.000% Senior Notes due 2028
March 15, 2028
3.200% Senior Notes due 2029
August 18, 2029
2.150% Senior Notes due 2030
April 15, 2030
2.500% Senior Notes due 2031
February 15, 2031
3.900% Senior Notes due 2032
January 15, 2032
1.000% Euro Senior Notes due 2033
December 15, 2032
3.000% Senior Notes due 2050
January 15, 2050
2.950% Senior Notes due 2051
March 15, 2051
3.400% Senior Notes due 2052
August 15, 2051
Schedule 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, 2022 (in thousands):
Years ending:
2023$9,847 
20241,009,469 
20251,208,077 
20261,307,656 
20271,644,202 
Thereafter7,701,256 
$12,880,507 
Schedule of 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):
20222021
Mortgage and loans payable$666,387 $621,051 
Senior notes10,196,933 11,049,834 
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):
202220212020
Interest expense$356,337 $336,082 $406,466 
Interest capitalized18,152 24,505 26,750 
Interest charges incurred$374,489 $360,587 $433,216