Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of September 30, 2024 (dollars in thousands):

	Balance			Weighted Average Effective Rate			Weighted Average Contract Maturity
Unsecured debt
Fixed rate senior notes	$	4,050,000			3.6	%	1/9/2031
Variable rate commercial paper program		490,000			5.1	%	10/3/2024
Debt issuance costs, discounts and premiums		(24,267	)
Total unsecured debt	$	4,515,733			3.7	%
Secured debt
Fixed rate property mortgages	$	363,293			4.4	%	1/26/2049
Debt issuance costs		(3,058	)
Total secured debt	$	360,235			4.4	%
Total outstanding debt	$	4,875,968			3.8	%