Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of fair value and carrying value of financial instruments

At September 30, 2023 and December 31, 2022, the fair values of our financial instruments approximated their carrying values in our condensed consolidated financial statements, due to their short term nature or floating interest rates, except as follows:


	As of September 30, 2023				As of December 31, 2022
Financial Instrument	Carrying Value (1)		Fair Value		Carrying Value (1)		Fair Value


Senior unsecured notes, 4.25% interest rate, due in 2024	$	348,574	$	331,881	$	346,863	$	331,601
Senior unsecured notes, 4.50% interest rate, due in 2025	645,404		531,284		642,818		589,388
Senior unsecured notes, 2.650% interest rate, due in 2026	298,308		204,081		297,839		232,770
Senior unsecured notes, 2.400% interest rate, due in 2027	347,931		209,255		347,466		256,606
Senior unsecured notes, 3.450% interest rate, due in 2031	396,504		202,504		396,178		268,004

Senior unsecured notes, 6.375% interest rate, due in 2050	156,856		89,748		156,711		113,075
Mortgage notes payable (2) (3)	172,331		175,868		49,917		49,099
Total	$	2,365,908	$	1,744,621	$	2,237,792	$	1,840,543

(1)Includes unamortized debt premiums, discounts and issuance costs totaling $23,412 and $24,208 as of September 30, 2023 and December 31, 2022, respectively.

(2)Balances as of December 31, 2022 include a mortgage note secured by one property with an outstanding principal balance of $50,000 that was repaid in June 2023.

(3)Balances as of September 30, 2023 include six mortgage notes issued during the nine months ended September 30, 2023 with an aggregate outstanding principal balance of $177,320.