Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value of Financial Instruments

Estimated Fair Value And Carrying Amounts

The aggregate estimated fair value and carrying value of our Global Revolving Credit Facilities, Euro Term Loan Facilities and USD Term Loan Facility, unsecured senior notes and secured and other debt as of the respective periods is shown below (in thousands):

	Categorization	As of December 31, 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	$	1,825,228	$	1,825,228	$	2,167,889	$	2,167,889
Unsecured term loans (1)	Level 2		1,567,925		1,567,925		802,875		802,875
Unsecured senior notes (2)	Level 2		12,417,619		13,507,427		11,331,989		13,220,961
Secured and other debt (2)	Level 2		625,473		637,072		517,226		532,130
		$	16,436,245	$	17,537,652	$	14,819,979	$	16,723,855

(1) The carrying value of our Global Revolving Credit Facilities and 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.