Senior Notes (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Summary of Senior Notes

The following table summarizes our senior notes as of March 31, 2025 and December 31, 2024 (in thousands):

	March 31, 2025			December 31, 2024
4.00% senior notes, due 2030 (1)	$	400,000		$	400,000
5.20% senior notes, due 2047 (2)		225,000			225,000
		625,000			625,000
Debt issuance costs, net		(8,176	)		(8,382	)
Senior notes, net	$	616,824		$	616,618

(1)In May 2020, we sold in a registered underwritten public offering, $400.0 million in aggregate principal amount of 4.00% senior notes due May 2030. Interest on these senior notes is payable semi-annually in arrears. We may redeem the notes in whole or in part, at our option, at a redemption price equal to the greater of a) 100% of their principal amount, or b) discounted present value at Treasury rate plus 50 basis points prior to February 15, 2030, and on or after February 15, 2030, at 100% of their principal amount, and accrued and unpaid interest, if any, to the date of redemption.

(2)In October 2017, we completed the pricing of a registered underwritten public offering of $200.0 million in aggregate principal amount of 5.20% senior notes due October 2047. Interest on the senior notes is payable quarterly in arrears. We may redeem some or all of the senior notes at any time at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued interest thereon to the redemption date. On October 27, 2017, we completed the sale of an additional $25.0 million aggregate principal amount of Notes pursuant to the over-allotment option.

Schedule of Corporate Date Maturity

Our senior notes mature as follows, based upon contractual terms (in thousands):

2025	$	—
2026		—
2027		—
2028		—
2029		—
Thereafter		625,000
	$	625,000