v3.8.0.1

Debt (Tables) | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Debt Summary | The following table summarizes our debt (dollars in thousands):
|  | September 30, 2017 |  |  | December 31, 2016 |
|  | Weighted Average Interest Rate (1) |  |  | Amount Outstanding (2) |  |  | Weighted Average Interest Rate (1) |  |  | Amount Outstanding |
Credit facilities |  |  | - |  |  | $ | - |  |  |  | 1.0 | % |  | $ | 35,023 |
Senior notes |  |  | 3.1 | % |  |  | 6,874,108 |  |  |  | 3.3 | % |  |  | 6,417,492 |
Term loans |  |  | 1.5 | % |  |  | 1,620,688 |  |  |  | 1.4 | % |  |  | 1,484,523 |
Unsecured other |  |  | 6.1 | % |  |  | 13,994 |  |  |  | 6.1 | % |  |  | 14,478 |
Secured mortgages |  |  | 5.7 | % |  |  | 812,371 |  |  |  | 4.9 | % |  |  | 979,585 |
Secured mortgages of consolidated entities (3) |  |  | 2.8 | % |  |  | 399,904 |  |  |  | 3.0 | % |  |  | 1,677,193 |
Totals |  |  | 3.0 | % |  | $ | 9,721,065 |  |  |  | 3.2 | % |  | $ | 10,608,294 |
(1) | The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for the debt outstanding.
(2) | Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.7 billion), Japanese yen ($1.3 billion), British pounds sterling ($0.7 billion) and Canadian dollars ($0.5 billion).
(3) | In March 2017 we acquired all of our partner’s interest in NAIF, which resulted in $956.0 million of secured mortgage debt to become wholly-owned and reported as secured mortgages, as discussed in Note 6. In July 2017, USLF assumed these secured mortgages in conjunction with our contribution of the associated real estate properties, as discussed in Note 2.
Credit Facilities | The following table summarizes information about our Credit Facilities at September 30, 2017 (in millions):
Aggregate lender commitments |  | $ | 3,476 |
Less: |  |  |  |
Borrowings outstanding |  |  | - |
Outstanding letters of credit |  |  | 38 |
Current availability |  | $ | 3,438 |
Long-Term Debt Maturities | Principal payments due on our debt, for the remainder of 2017 and for each of the years in the period ending December 31, 2026, and thereafter were as follows at September 30, 2017 (in thousands):
|  | Unsecured |  |  |  |  |  |  |
|  | Senior |  |  | Term Loans |  |  | Secured |  |  |  |  |
Maturity |  | Notes |  |  | and Other |  |  | Mortgage Debt |  |  | Total |
2017 (1) |  | $ | - |  |  | $ | 453 |  |  | $ | 3,180 |  |  | $ | 3,633 |
2018 (1) |  |  | 175,000 |  |  |  | 934 |  |  |  | 404,668 |  |  |  | 580,602 |
2019 |  |  | - |  |  |  | 1,013 |  |  |  | 446,324 |  |  |  | 447,337 |
2020 (2) |  |  | 910,437 |  |  |  | 161,077 |  |  |  | 12,401 |  |  |  | 1,083,915 |
2021 |  |  | 1,326,420 |  |  |  | 910 |  |  |  | 14,804 |  |  |  | 1,342,134 |
2022 |  |  | 826,420 |  |  |  | 445,170 |  |  |  | 10,815 |  |  |  | 1,282,405 |
2023 |  |  | 850,000 |  |  |  | 921,982 |  |  |  | 33,866 |  |  |  | 1,805,848 |
2024 |  |  | 826,420 |  |  |  | 874 |  |  |  | 133,551 |  |  |  | 960,845 |
2025 |  |  | 750,000 |  |  |  | 950 |  |  |  | 145,671 |  |  |  | 896,621 |
2026 |  |  | 590,300 |  |  |  | 591 |  |  |  | 1,232 |  |  |  | 592,123 |
Thereafter |  |  | 669,441 |  |  |  | 112,320 |  |  |  | 1,169 |  |  |  | 782,930 |
Subtotal |  |  | 6,924,438 |  |  |  | 1,646,274 |  |  |  | 1,207,681 |  |  |  | 9,778,393 |
Premiums (discounts), net |  |  | (22,100 | ) |  |  | - |  |  |  | 8,554 |  |  |  | (13,546 | )
Debt issuance costs, net |  |  | (28,230 | ) |  |  | (11,592 | ) |  |  | (3,960 | ) |  |  | (43,782 | )
Totals |  | $ | 6,874,108 |  |  | $ | 1,634,682 |  |  | $ | 1,212,275 |  |  | $ | 9,721,065 |
(1) | We expect to repay the amounts maturing in 2017 and 2018 with cash generated from operations, proceeds from the dispositions of real estate properties or, as necessary, with borrowings on our Credit Facilities.
(2) | Included in the 2020 maturities is the 2017 Term Loan that can be extended until 2022, as discussed above.

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