XML 39 R24.htm IDEA: XBRL DOCUMENT v3.21.1
Borrowings (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Summary of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of March 31, 2021 (dollars in thousands):

 

 

 

Balance

 

 

Weighted Average Effective Rate

 

 

Weighted Average Contract Maturity

Unsecured debt

 

 

 

 

 

 

 

 

 

 

Variable rate commercial paper program

 

$

385,000

 

 

 

0.2

%

 

4/6/2021

Fixed rate senior notes

 

 

3,922,000

 

 

 

3.6

%

 

1/27/2027

Debt issuance costs, discounts, premiums and fair market value adjustments

 

 

(15,668

)

 

 

 

 

 

 

Total unsecured debt

 

$

4,291,332

 

 

 

3.3

%

 

 

Secured debt

 

 

 

 

 

 

 

 

 

 

Fixed rate property mortgages

 

$

369,556

 

 

 

4.4

%

 

9/1/2048

Debt issuance costs

 

 

(3,303

)

 

 

 

 

 

 

Total secured debt

 

$

366,253

 

 

 

4.4

%

 

 

Total outstanding debt

 

$

4,657,585

 

 

 

3.4

%