Debt (Tables)

12 Months Ended

Dec. 31, 2019

Our debt consists of the following (in thousands):



	December 31,
	2019		2018
Debt payable, net to 2038 ⁽¹⁾	$	1,653,154	$	1,706,886
Unsecured notes payable under credit facilities	—		5,000
Debt service guaranty liability	57,380		60,900
Finance lease obligation	21,804		21,898
Total	$	1,732,338	$	1,794,684

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(1)

At December 31, 2019, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 3.9%. At December 31, 2018, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 4.0%.

Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured

The allocation of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):



	December 31,
	2019		2018
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	1,714,890	$	1,771,999
Variable-rate debt	17,448		22,685
Total	$	1,732,338	$	1,794,684
As to collateralization:
Unsecured debt	$	1,450,762	$	1,457,432
Secured debt	281,576		337,252
Total	$	1,732,338	$	1,794,684

Schedule Of Credit Facilities

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):



	December 31,
	2019			2018
Unsecured revolving credit facility:
Balance outstanding	$	—		$	5,000
Available balance	497,946			492,946
Letter of credit outstanding under facility	2,054			2,054
Variable interest rate (excluding facility fee) at end date	—		%	3.3		%
Unsecured short-term facility:
Balance outstanding	$	—		$	—
Variable interest rate at end date	—		%	—		%
Both facilities:
Maximum balance outstanding during the year	$	5,000		$	26,500
Weighted average balance	123			1,096
Year-to-date weighted average interest rate (excluding facility fee)	3.3		%	2.9		%

Principal Payments Of Debt

Scheduled principal payments on our debt (excluding $21.8 million of a finance lease obligation, $(3.9) million net premium/(discount) on debt, $(5.5) million of deferred debt costs, $1.5 million of non-cash debt-related items, and $57.4 million debt service guaranty liability) are due during the following years (in thousands):



2020	$	22,743
2021	18,434
2022	307,922
2023	347,815
2024	252,153
2025	293,807
2026	277,291
2027	38,288
2028	92,159
2029	917
Thereafter	9,518
Total	$	1,661,047