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Debt Facilities (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2023 and 2022, our mortgage and loans payable consisted of the following (in thousands):
20232022
Term loans$642,657 $619,090 
Mortgage payable and loans payable29,037 34,527 
671,694 653,617 
Less amount representing unamortized debt discount and debt issuance cost(726)(1,062)
670,968 652,555 
Less current portion(7,705)(9,847)
$663,263 $642,708 
Our senior notes consisted of the following as of December 31 (in thousands):
20232022
Senior NotesIssuance DateMaturity DateAmountEffective RateAmountEffective Rate
2.625% Senior Notes due 2024
November 2019November 2024$1,000,000 2.79 %$1,000,000 2.79 %
1.250% Senior Notes due 2025
June 2020July 2025500,000 1.46 %500,000 1.46 %
1.000% Senior Notes due 2025
October 2020September 2025700,000 1.18 %700,000 1.18 %
2.900% Senior Notes due 2026
November 2019November 2026600,000 3.04 %600,000 3.04 %
1.450% Senior Notes due 2026
May 2021May 2026700,000 1.64 %700,000 1.64 %
0.250% Euro Senior Notes due 2027
March 2021March 2027552,050 0.45 %534,950 0.45 %
1.800% Senior Notes due 2027
June 2020July 2027500,000 1.96 %500,000 1.96 %
1.550% Senior Notes due 2028
October 2020March 2028650,000 1.67 %650,000 1.67 %
2.000% Senior Notes due 2028
May 2021May 2028400,000 2.21 %400,000 2.21 %
2.875% Swiss Franc Senior Notes due 2028
September 2023September 2028356,633 3.05 %— — %
3.200% Senior Notes due 2029
November 2019November 20291,200,000 3.30 %1,200,000 3.30 %
2.150% Senior Notes due 2030
June 2020July 20301,100,000 2.27 %1,100,000 2.27 %
2.500% Senior Notes due 2031
May 2021May 20311,000,000 2.65 %1,000,000 2.65 %
3.900% Senior Notes due 2032
April 2022April 20321,200,000 4.07 %1,200,000 4.07 %
1.000% Euro Senior Notes due 2033
March 2021March 2033662,460 1.18 %641,940 1.18 %
2.000% Japanese Yen Series A Notes due 2035
March 2023March 2035266,888 2.07 %— — %
2.130% Japanese Yen Series C Notes due 2035
March 2023March 2035104,911 2.20 %— — %
2.370% Japanese Yen Series B Notes due 2043
March 2023March 204372,516 2.42 %— — %
2.570% Japanese Yen Series D Notes due 2043
March 2023March 204332,608 2.62 %— — %
2.570% Japanese Yen Series E Notes due 2043
February 2023March 204370,886 2.62 %— — %
3.000% Senior Notes due 2050
June 2020July 2050500,000 3.09 %500,000 3.09 %
2.950% Senior Notes due 2051
October 2020September 2051500,000 3.00 %500,000 3.00 %
3.400% Senior Notes due 2052
May 2021February 2052500,000 3.50 %500,000 3.50 %
13,168,952 12,226,890 
Less amount representing unamortized debt discount and debt issuance cost(108,026)(117,351)
13,060,926 12,109,539 
Less current portion(998,580)— 
$12,062,346 $12,109,539 
Schedule of Optional Redemption
With respect to the rest of the Notes listed below, we may redeem at our election, at any time or from time to time, some or all of the notes of any series before they mature. The redemption price will equal the sum of (1) an amount equal to one hundred percent (100%) of the principal amount of the notes being redeemed plus accrued and unpaid interest up to, but not including, the redemption date and (2) a make-whole premium. If the Notes are
redeemed on or after the First Par Call Date listed in the table below, the redemption price will not include a make-whole premium for the applicable notes.
Senior Notes DescriptionFirst Par Call Date
2.625% Senior Notes due 2024
October 18, 2024
1.250% Senior Notes due 2025
June 15, 2025
1.000% Senior Notes due 2025
August 15, 2025
1.450% Senior Notes due 2026
April 15, 2026
2.900% Senior Notes due 2026
September 18, 2026
0.250% Euro Senior Notes due 2027
January 15, 2027
1.800% Senior Notes due 2027
May 15, 2027
1.550% Senior Notes due 2028
January 15, 2028
2.000% Senior Notes due 2028
March 15, 2028
2.875% Swiss Franc Senior Notes due 2028
June 12, 2028
3.200% Senior Notes due 2029
August 18, 2029
2.150% Senior Notes due 2030
April 15, 2030
2.500% Senior Notes due 2031
February 15, 2031
3.900% Senior Notes due 2032
January 15, 2032
1.000% Euro Senior Notes due 2033
December 15, 2032
2.000% Japanese Yen Series A Notes due 2035
March 8, 2035
2.130% Japanese Yen Series C Notes due 2035
March 8, 2035
2.370% Japanese Yen Series B Notes due 2043
March 8, 2043
2.570% Japanese Yen Series D Notes due 2043
March 8, 2043
2.570% Japanese Yen Series E Notes due 2043
March 8, 2043
3.000% Senior Notes due 2050
January 15, 2050
2.950% Senior Notes due 2051
March 15, 2051
3.400% Senior Notes due 2052
August 15, 2051
Schedule of Maturities of Debt Instruments
The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of December 31, 2023 (in thousands):
Years ending:
2024$1,007,704 
20251,206,322 
20261,306,171 
20271,694,016 
20281,411,523 
Thereafter7,214,910 
$13,840,646 
Schedule of Fair Value of Debt Instruments
The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of December 31 (in thousands):
20232022
Fair ValueFair Value
Measurement Using		Fair ValueFair Value
Measurement Using
Level 1Level 2Level 1Level 2
Mortgage and loans payable$684,222 $— $684,222 $666,387 $— $666,387 
Senior notes11,739,401 11,165,781 573,620 10,196,933 10,196,933 — 
Schedule of Interest Charges Incurred
The following table sets forth total interest costs incurred, and total interest costs capitalized for the years ended December 31 (in thousands):
202320222021
Interest expense$402,022 $356,337 $336,082 
Interest capitalized25,971 18,152 24,505 
Interest charges incurred$427,993 $374,489 $360,587