Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2015

The following is a summary of our senior notes payable and other debt as of December 31, 2015 and 2014:



	2015			2014
	(In thousands)
Unsecured revolving credit facility (1)	$	180,683		$	919,099
3.125% Senior Notes due 2015	—			400,000
6% Senior Notes due 2015	—			234,420
1.55% Senior Notes due 2016	550,000			550,000
1.250% Senior Notes due 2017	300,000			300,000
2.00% Senior Notes due 2018	700,000			700,000
Unsecured term loan due 2018 (2)	200,000			200,000
Unsecured term loan due 2019 (2)	468,477			790,634
4.00% Senior Notes due 2019	600,000			600,000
3.00% Senior Notes, Series A due 2019 (3)	289,038			344,204
2.700% Senior Notes due 2020	500,000			500,000
Unsecured term loan due 2020	900,000			—
4.750% Senior Notes due 2021	700,000			700,000
4.25% Senior Notes due 2022	600,000			600,000
3.25% Senior Notes due 2022	500,000			500,000
3.300% Senior Notes due 2022 (3)	180,649			—
3.750% Senior Notes due 2024	400,000			400,000
4.125% Senior Notes, Series B due 2024 (3)	180,649			215,128
3.500% Senior Notes due 2025	600,000			—
4.125% Senior Notes due 2026	500,000			—
6.90% Senior Notes due 2037	52,400			52,400
6.59% Senior Notes due 2038	22,973			22,973
5.45% Senior Notes due 2043	258,750			258,750
5.70% Senior Notes due 2043	300,000			300,000
4.375% Senior Notes due 2045	300,000			—
Mortgage loans and other (4)	1,987,401			2,300,687
Total	11,271,020			10,888,295
Deferred financing costs, net	(69,121		)	(60,328		)
Unamortized fair value adjustment	33,570			42,516
Unamortized discounts	(28,473		)	(26,132		)
Senior notes payable and other debt	$	11,206,996		$	10,844,351

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(1)	$9.7 million and $164.1 million of aggregate borrowings are denominated in Canadian dollars as of December 31, 2015 and 2014, respectively.


(2)	These amounts represent in aggregate the $668 million of unsecured term loan borrowings under our unsecured credit facility, of which $89.9 million included in the 2019 tranche is in the form of Canadian dollars.


(3)	These borrowings are in the form of Canadian dollars.


(4)	2015 and 2014 exclude $22.9 million and $27.6 million, respectively, of mortgage debt related to real estate assets classified as held for sale that is included in liabilities related to assets held for sale on our Consolidated Balance Sheets.

As of December 31, 2015, our indebtedness had the following maturities:



	Principal Amount Due at Maturity		Unsecured Revolving Credit Facility(1)		Scheduled Periodic Amortization		Total Maturities
	(In thousands)
2016 (2)	$	602,661	$	—	$	31,124	$	633,785
2017 (2)	746,458		—		28,500		774,958
2018	1,101,879		180,683		23,486		1,306,048
2019	1,900,986		—		15,929		1,916,915
2020	1,416,913		—		11,122		1,428,035
Thereafter (3)	5,085,663		—		125,616		5,211,279
Total maturities	$	10,854,560	$	180,683	$	235,777	$	11,271,020


(1)	At December 31, 2015, we had $53.0 million of unrestricted cash and cash equivalents, for $127.7 million of net borrowings outstanding under our unsecured revolving credit facility.


(2)	Excludes $22.9 million of mortgage debt related to real estate assets classified as held for sale as of December 31, 2015 that is scheduled to mature in 2016 and 2017.


(3)	Includes $52.4 million aggregate principal amount of 6.90% senior notes due 2037 that is subject to repurchase, at the option of the holders, on October 1 in each of 2017 and 2027, and $23.0 million aggregate principal amount of 6.59% senior notes due 2038 that is subject to repurchase, at the option of the holders, on July 7 in each of 2018, 2023 and 2028.