XML 97 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Debt consist of the following (in thousands):
Interest Rate (1)
Maturities ThroughQuarter ended March 31, 2020Year ended December 31, 2019
Fixed rate debt:
Unsecured senior notes
2.65% to 7.50%
2020 - 2028$1,767,059  $1,746,280  
Secured senior notes7.25%2025658,645  662,398  
Unsecured term loans
2.53% to 5.41%
2021 - 20323,480,147  2,806,774  
Total fixed rate debt5,905,851  5,215,452  
Variable rate debt:
Unsecured revolving credit facilities (2)
2.79%2022 - 20243,475,000  165,000  
Commercial paper1.93%2020343,557  1,434,180  
USD secured term loan
2.25% to 2.75%
20212,200,000  —  
USD unsecured term loan
1.55% to 5.64%
2020 - 20283,471,256  3,519,853  
Euro unsecured term loan
1.15% to 1.58%
2021 - 2028661,487  676,740  
Total variable rate debt10,151,300  5,795,773  
Finance lease liabilities226,471  230,258  
Total debt (3)
16,283,622  11,241,483  
Less: unamortized debt issuance costs(254,750) (206,607) 
Total debt, net of unamortized debt issuance costs16,028,872  11,034,876  
Less—current portion including commercial paper(3,755,550) (2,620,766) 
Long-term portion$12,273,322  $8,414,110  
(1) Interest rates based on outstanding loan balance as of March 31, 2020 and, for variable rate debt, include either LIBOR or EURIBOR plus the applicable margin.
(2) Includes $1.9 billion facility due in 2024 and $1.6 billion facility due in 2022, each of which accrue interest at LIBOR plus 1.10%, which interest rate was 2.55% as of March 31, 2020 and each is subject to a facility fee of 0.15%.
(3) At March 31, 2020 and December 31, 2019, the weighted average interest rate for total debt was 3.98% and 3.99%, respectively.
Schedule of Maturities of Long-term Debt
The following is a schedule of annual maturities on our total debt net of debt issuance costs, and including capital leases and commercial paper, as of March 31, 2020 for each of the next five years (in thousands):
Year
Remainder of 20201,082,153  
20213,102,445  
20224,289,601  
2023823,209  
20242,706,216  
Thereafter4,025,248  
16,028,872