Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value of Financial Instruments

Estimated Fair Value And Carrying Amounts

	Categorization	As of June 30, 2023				As of December 31, 2022
	under the fair value	Estimated Fair				Estimated Fair
	hierarchy	Value		Carrying Value		Value		Carrying Value
Global revolving credit facilities (1)	Level 2	$	2,257,864	$	2,257,864	$	2,167,889	$	2,167,889
Unsecured term loans (1)	Level 2		1,558,175		1,558,175		802,875		802,875
Unsecured senior notes (2)	Level 2		11,555,749		13,479,366		11,331,989		13,220,961
Secured and other debt (2)	Level 2		546,266		560,795		517,226		532,130
		$	15,918,054	$	17,856,200	$	14,819,979	$	16,723,855

(1) The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.

(2) Valuations for our unsecured senior notes and secured and other debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices.