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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value of Financial Instruments  
Estimated Fair Value And Carrying Amounts

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Categorization

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As of June 30, 2023

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As of December 31, 2022

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under the fair value

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Estimated Fair

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Estimated Fair

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hierarchy

    

Value

    

Carrying Value

    

Value

    

Carrying Value

Global revolving credit facilities (1)

 

Level 2

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$

2,257,864

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$

2,257,864

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$

2,167,889

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$

2,167,889

Unsecured term loans (1)

 

Level 2

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1,558,175

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1,558,175

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802,875

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802,875

Unsecured senior notes (2)

 

Level 2

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11,555,749

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13,479,366

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11,331,989

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13,220,961

Secured and other debt (2)

 

Level 2

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546,266

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560,795

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517,226

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532,130

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$

15,918,054

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$

17,856,200

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$

14,819,979

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$

16,723,855

(1)The carrying value of our unsecured term loans approximates estimated fair value, due to the variability of interest rates and the stability of our credit ratings.
(2)Valuations for our unsecured senior notes and secured and other debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices.