Debt (Tables)

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Summary of Debt

The following is a summary of debt (dollar amounts in thousands):

	As of September 30, 2026			As of December 31, 2025
Secured revolving credit facility(A)	$	383,300		$	638,063
Secured term loan		200,000			200,000
British pound sterling secured term loan due 2034(B)		837,525			850,784
0.993% Senior Unsecured Notes due 2026(B)		—			587,300
5.000% Senior Unsecured Notes due 2027		665,397			1,400,000
3.692% Senior Unsecured Notes due 2028(B)		596,271			808,500
4.625% Senior Unsecured Notes due 2029		581,229			900,000
3.375% Senior Unsecured Notes due 2030(B)		388,736			471,625
3.500% Senior Unsecured Notes due 2031		687,488			1,300,000
7.000% Senior Secured Notes due 2032(B)		1,133,000			1,174,600
8.500% Senior Secured Notes due 2032		1,500,000			1,500,000
9.250% Senior Secured Notes due 2032		2,400,000			—
	$	9,372,946		$	9,830,872
Debt issue costs, premium, and discount, net		(112,689	)		(133,037	)
	$	9,260,257		$	9,697,835

(A)Includes €100 million and €100 million of Euro-denominated borrowings and CHF - million and CHF 52 million of Swiss franc-denominated borrowings that reflect the applicable exchange rates at September 30, 2026 and December 31, 2025, respectively.

(B)Non-U.S. dollar denominated debt reflects the exchange rates at September 30, 2026 and December 31, 2025.

Principal Payments Due on Debt

As of September 30, 2026, principal payments due on our debt (which exclude the effects of any discounts, premiums, or debt issue costs recorded) are as follows (amounts in thousands):

2026	$	383,300	(1)
2027		865,397	(1)
2028		596,271
2029		581,229
2030		388,736
Thereafter		6,558,013
Total	$	9,372,946

(1)Approximately $1.2 billion of debt is scheduled to mature through October 2027. This includes the balance of the revolving portion of our Credit Facility of approximately $383 million, the term loan portion of our Credit Facility, and our 5.000% Senior Unsecured Notes due 2027. Management expects to address these near-term maturities through a combination of available cash on hand, a new multi-year credit facility, additional secured debt issuances, and potential asset sales, which management believes will provide sufficient liquidity to meet the obligations associated with these maturities. See "Credit Facility" subheading below for updates on these maturities and Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations for further discussion around our refinancing plans.